Hull value

[HumbleNarrator]

Have a 1969 M20F we picked up a couple of years ago. vRef at the time was about $75K, we insured the hull for $80K. Time to renew insurance, not sure if it's worth bumping that? $90K would be another $100/yr, $100K another $200/yr. (Now that I type that, it seems silly to even ask. But maybe even $100K is too low?)

4500 TTAF.
0 TSMOH (field overhauled by a Lycoming specialist; Divco did the cases, Aircraft Specialty Services did the guts, new cylinders)
200 hours on a scimitar prop.
P&I are 9/10 (redone). Tanks don't leak.
Steam panel with:

• GNS430W
• S-TEC 30 with GPSS
• JPI 830 with fuel totalizer
• GPSmap 496 with XM radio / weather
• PMA450 stereo audio panel with Bluetooth
• Old GTX327 transponder
• FDL-978-XVR ADS-B In/Out
• KX-155 with failing display
• Several "201" mods including windshield, "guppy mouth" fill plate, but original belly / fairing.
• 40:1 gear conversion
• Always hangared, no corrosion

What's that worth in today's craziness?

[RobertGary1]

Yes, raise it. I've been trying to raise mine but my broker of 20 years seems to have gone silent and I'm getting worried. Won't find much of an F model for $80K now, plus there are tons of costs in buying a new plane, taxes, travel, inspections, etc.

 

-Robert

[RobertGary1]

Oh, my broker just got back to me. Raised another $10K. He'd told me it would be $300 but was only $100. so I'm good now. Planning a trip from NorCal to Phoenix SkyHarbor next week so hope I don't do anything stupid

 

-Robert

[Browncbr1]

i have a well sorted 67F that is about to receive a fresh engine..   clean panel with jpi830, gtn650, G5s, interfaced Aera660, kx155/ki209, trig adsb transponder, autopilot, top prop, 201 windshield, a few speed mods, good paint, nice leather yokes and interior.. 

i had it insured for 80k, but i'm bumping it to 120k..   If it were to get totaled, I wouldn't be able to find another F, so this means going to a J or a twinCo.

Edited February 15, 2022 by Browncbr1

[carusoam]

welcome aboard Humble!
 

Do whatever it takes to not be over insured… or under insured…

Either of the extremes has its own downsides…

Getting a decent valuation of the plane can be tricky… Vref, isn’t known for its accuracy…

Start with the MooneyFlyer for that… see if they have updated their valuations lately…

Our best insurance guy is around here also… find Parker…

Best regards,

-a-

[A64Pilot]

I’ve seen one older guy lose his Maule being underinsured. He had a small accident and the insurence company showed up with a check for the full insured amount,  and soon after sold the airplane for a higher amount.

He bought it new many years ago, insured  it for what he paid for it and never increased the insured value, just kept renewing.

[M20F-1968]

You need to assess the company.  Some just look at the book value and will not go much higher.  Old Republic accepted my appraiser's value and insured mine for $250,000.   The appraiser said it is the most expensive F model out there.  I have not been watching the market but I understand everything is higher.  Any sense how much higher.  Should I be thinking of increasing?

John Breda

[Sheriff23]

Gmax has their new value guide out and its updated to reflect the current market....its is posted here on MooneySpace as well. 

I bought my 67F two years ago and I have to up the insurance already.

[Niko182]

Insure it at the price of replacement. Not the purchase price.

[M20F]

I would add give Parker a call.  Too little and they total it, too much and you potentially get an unsellable plane back.  There is an F here listed for $120K, crazy times we live in.