Adam Atkins

[adamflies1]

what's up guys. I am currently in the market looking for a Mooney and I am just wondering what the general yearly costs are like for insurance maintenance ECT. I also know that insurance is based off of expirience, and I have around 315 hours with my commercial and commercial, multi and complex obviously. 

[Fly Boomer]

5 minutes ago, adamflies1 said:

what's up guys. I am currently in the market looking for a Mooney and I am just wondering what the general yearly costs are like for insurance maintenance ECT. I also know that insurance is based off of expirience, and I have around 315 hours with my commercial and commercial, multi and complex obviously. 

Those qualification will certainly move the needle but, in my experience, time in type seems to count pretty heavily.  That said, all the underwriters are different.  Have you settled on a target Mooney yet?

[GeeBee]

The first year expect to lay out 5 figures for all the deferred maintenance on your airplane. 

[Pinecone]

Getting 100 hours in make and model dropped my insurance almost 10%.

A lot also depends on the value of the airplane.

Figure the basic cost of a proper annual at about $3500.  @jetdriven told me the Mooney checklist takes about 34 hours with removing and replacing inspection plates and such.  With a few sqauwks going into it, and a couple of things found, my first annual was about $6500.  And a large chunk of the extra was to have the autopilot sent in for service.

As for other mainteance, that is difficult to say, as it depends on what shape your airplane it.  In a bit over a year, I have had a few things that HAD to be done, but not many.

[1980Mooney]

18 hours ago, adamflies1 said:

what's up guys. I am currently in the market looking for a Mooney and I am just wondering what the general yearly costs are like for insurance maintenance ECT. I also know that insurance is based off of expirience, and I have around 315 hours with my commercial and commercial, multi and complex obviously. 

I see you just joined Mooneyspace (MS). @Parker_Woodruff is a MS member/pilot that is also an aircraft insurance specialist/broker. He can answer your questions and also arrange for your insurance should you purchase a Mooney. 

[Jrags]

I'm picking up a 1965 M20C next week and Avemco quoted $916 for liability and $3,767 for $68k in hull coverage.  I have 243 hrs, 42 complex and high performance, and no time in type.  They did require 5 hrs dual and written approval from a CFI who is "current in the make and model."  What does that mean, current in make and model?

[ZuluZulu]

6 hours ago, Jrags said:

I'm picking up a 1965 M20C next week and Avemco quoted $916 for liability and $3,767 for $68k in hull coverage.  I have 243 hrs, 42 complex and high performance, and no time in type.  They did require 5 hrs dual and written approval from a CFI who is "current in the make and model."  What does that mean, current in make and model?

Avemco decides what that means, I'd probably ask them.   

[Pinecone]

They could mean M20C or the could mean any M20.  ASK.

[Utah20Gflyer]

17 hours ago, Jrags said:

I'm picking up a 1965 M20C next week and Avemco quoted $916 for liability and $3,767 for $68k in hull coverage.  I have 243 hrs, 42 complex and high performance, and no time in type.  They did require 5 hrs dual and written approval from a CFI who is "current in the make and model."  What does that mean, current in make and model?

I started with Avemco.  The instructor I used had Mooney time but no time in a G model.  So I’m pretty sure it isn’t a requirement for currency in the exact letter model.   
 

The make is Mooney, the model is M20, or at least that is the way I would interpret it.  I’ve flown C,G and J model Mooneys and I didn’t notice any significant difference.  This may not apply to long body Mooneys which introduce a lot more power to the equation, but I have no experience with those.  
 

I asked if my previous Mooney time applied to my transition requirement of 10 hours.  I was told all transition training had to be done in the insured aircraft.  
 

Doesn’t hurt to ask though.  I’d do that. 

[kortopates]

The model referred to in the open pilot clause is virtually always the actual model - not just any Mooney M20. There is after all a huge range from A to U.
Check with your broker.


Sent from my iPhone using Tapatalk

[midlifeflyer]

9 hours ago, kortopates said:

The model referred to in the open pilot clause is virtually always the actual model - not just any Mooney M20. There is after all a huge range from A to U.
Check with your broker.


Sent from my iPhone using Tapatalk

True. 

The one way around it is to have the instructor approved. The open pilot is generic. Individual approval looks at more than hours in make and model. They will often consider related experience. I've had that happen a few times.

[Pinecone]

DEFINITELY check with YOUR insurer.

They have different definitions of what constitutes the same aircraft.

[Jerry 5TJ]

I’ve started to see the “make and model” phrase more frequently in my clients’ insurance requirements in the past year.   I took it to mean X hours in a specific model such as C or E or K.  I had one new owner required to work with an instructor with “hours in a Mooney M20K Rocket Conversion.”  

[midlifeflyer]

On 10/1/2023 at 8:33 AM, Jerry 5TJ said:

I’ve started to see the “make and model” phrase more frequently in my clients’ insurance requirements in the past year.   I took it to mean X hours in a specific model such as C or E or K.  I had one new owner required to work with an instructor with “hours in a Mooney M20K Rocket Conversion.”  

I've even seen "in the insured aircraft."

[KLRDMD]

On 10/1/2023 at 5:33 AM, Jerry 5TJ said:

I had one new owner required to work with an instructor with “hours in a Mooney M20K Rocket Conversion.”  

I just did transition training into a Rocket for a guy last weekend. I have over 1,000 M20 hours in C, E, F, G, J, K & M models. My 10 hours in a Rocket were deemed sufficient.

[N201MKTurbo]

I have a friend who came into a turbo retractable. The insurance company said his insurance cost would drop in half after he had 100 hours in make and model. He has almost 100 hours in it now and is planning on buying insurance soon. 

I was in the plane the first time he flew it. He flies it just fine.

[MikeOH]

4 hours ago, midlifeflyer said:

I've even seen "in the insured aircraft."

@midlifeflyer

Please elaborate on this...the way I'm reading this statement is that you won't be insured in YOUR own aircraft until you have the requisite hours in YOUR aircraft?!?!?  Are those companies basically telling you that you're on your own (naked) until you get those hours??

That seems pretty hard to believe.  But, these days....??

[midlifeflyer]

11 hours ago, MikeOH said:

@midlifeflyer

Please elaborate on this...the way I'm reading this statement is that you won't be insured in YOUR own aircraft until you have the requisite hours in YOUR aircraft?!?!?  Are those companies basically telling you that you're on your own (naked) until you get those hours??

That seems pretty hard to believe.  But, these days....??

No, you're not naked.

The one I was talking about is a requirement for an annual flight review or IPC in the insured aircraft. You are already insured. It's a continuing requirement.

But to your point, it's very common for policies to require a pilot who buys an aircraft with zero time in type to have a certain number of hours dual before being covered for solo flight. IOW, you are covered when accompanied by that qualified instructor but  "you won't be insured for solo flight in YOUR own aircraft until you have the requisite hours in YOUR aircraft."