Owen M20F Posted September 10, 2020 Report Share Posted September 10, 2020 15 hours ago, PMcClure said: I was told to learn what I was going to fly. I bought my first Mooney (69F) with 100 hours. 10 hours dual and I was cleared by insurance. Some of this 10 hours was used for my IFR training. Question, what was the price on your policy? Im 250 hours and 10 complex and about to buy my Mooney Quote Link to comment Share on other sites More sharing options...
jaylw314 Posted September 10, 2020 Report Share Posted September 10, 2020 4 minutes ago, Owen M20E said: Question, what was the price on your policy? Im 250 hours and 10 complex and about to buy my Mooney I was almost exactly in your boat, and ended up paying $2400 the first year for $120k value. I did my IFR training the first year and got my rating, and I put about 120 hours on the plane the first year. The second year it went down to $1500, not sure how much was from the rating and how much from just the additional chunk of time in type. Quote Link to comment Share on other sites More sharing options...
Owen M20F Posted September 10, 2020 Report Share Posted September 10, 2020 Okay, mine should be a bit cheaper. I’m doing 45k hull value and doing a quarterly policy since i should have my ifr/commercial/chi within 6 months or so. Quote Link to comment Share on other sites More sharing options...
rainman Posted September 10, 2020 Report Share Posted September 10, 2020 I bought my 231 when I had just over 100 hrs. I got good transition training then flew VFR for about 50 hours over three months to get comfortable with the plane. I then did my IFR training. I’ve since put about 1000 hours on it and it has been a good match to my mission (me, wife, dog, baggage). It can be done. Ray Quote Link to comment Share on other sites More sharing options...
McMooney Posted September 10, 2020 Report Share Posted September 10, 2020 If you are in a position to become an owner, YES. Quote Link to comment Share on other sites More sharing options...
59Moonster Posted September 10, 2020 Report Share Posted September 10, 2020 5 hours ago, Owen M20E said: Okay, mine should be a bit cheaper. I’m doing 45k hull value and doing a quarterly policy since i should have my ifr/commercial/chi within 6 months or so. I wouldn't count on that at all. Get a quote first. I'm at 300+ hours 150 in type with ifr and I'm at 4amu's for 69k. Quote Link to comment Share on other sites More sharing options...
midlifeflyer Posted September 10, 2020 Report Share Posted September 10, 2020 I guess the bottom line is, if you are planning to fly one, this is as good a time to do it as any. Here's my take: Instrument training is <20% aircraft control and >80% understanding procedures and rules. It is a best practice for instructors to focus on that 20% in the first few insrument lessons, including such things at standard power settings for different phases of flight - what combination of pitch and power and configuration will give me a 450 FPM descent at 90 knots? Learn the 20% well and you free yourself for the other 80%. Most of those standard power settings are used in VFR flight as well - the airspeed and configuration level flight at the MDA of a nonprecision approach is the same as VFR downwind in the traffic pattern. I personally think they should always be taught as part of a complex airplane transition, IFR or VFR. So, if you in your building time stage for the IR. there is noting to lose and everything to gain but getting your airplane of choice now. 1 Quote Link to comment Share on other sites More sharing options...
PMcClure Posted September 10, 2020 Report Share Posted September 10, 2020 9 hours ago, Owen M20E said: Question, what was the price on your policy? Im 250 hours and 10 complex and about to buy my Mooney I don't remember exactly, it was about 10 years ago. However, it was expensive until I got my IFR ticket. I believe the 1st year was about $3-4k for a plane that cost $60k and a partnership of 4 people. After IFR, I think it went down to about $700-1200. But even if you rent, you still need liability insurance and you are still responsible for the plane. Make sure you consider that. Non-retract may be less expensive, but by all means, get your IFR for many reasons. Quote Link to comment Share on other sites More sharing options...
ewalk2001 Posted September 10, 2020 Author Report Share Posted September 10, 2020 Wow this is great information and a great group. I really appreciate all the insight and believe its still a good idea. Thanks all Quote Link to comment Share on other sites More sharing options...
Hank Posted September 10, 2020 Report Share Posted September 10, 2020 9 hours ago, Owen M20E said: Okay, mine should be a bit cheaper. I’m doing 45k hull value and doing a quarterly policy since i should have my ifr/commercial/chi within 6 months or so. You need to check. We have an agent here: @Parker_Woodruff 1 Quote Link to comment Share on other sites More sharing options...
carusoam Posted September 10, 2020 Report Share Posted September 10, 2020 Fun news... 1) aircraft value is a minor part of the calculation... 2) the humans that fill the seats are the most expensive part... 3) Getting hours and ratings really counts... 4) Unfortunately, you pay for a whole year first... It would be great if we got a discount after the fact... Best regards, -a- Quote Link to comment Share on other sites More sharing options...
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