Student pilot insurance?

[bradcarr]

Anyone have advice on getting insurance on a mooney when still a student pilot. I've found a plane i want. But the loan requires insurance, obviously I want it too. But everything is denying a student on a retract plane.  Ill gladly get a policy requiring my cfi for all flights if anyone has a suggestion.  Then after my ppl is done I can update policy etc.

[toto]

@Parker_Woodruff is the resident insurance expert 

[201er]

It's not gonna be pretty but if anyone @Parker_Woodruff can make it happen

[bradcarr]

As an additional piece of information I could care less about actually flying the mooney for my ppl.  I've got 3 night 3 instrument hours left. Ill gladly do all in a rented 152 if need be. I've just got to have coverage that includes my name so the loan will be given.  If I knew the plane wouldn't be sold for a month I'd finish the ppl first. But since there have been multiple other offers I'm trying hard to not lose out on what will be my dream plane due to an insurance issue.

[Paul Thomas]

1 hour ago, bradcarr said:

As an additional piece of information I could care less about actually flying the mooney for my ppl.  I've got 3 night 3 instrument hours left. Ill gladly do all in a rented 152 if need be. I've just got to have coverage that includes my name so the loan will be given.  If I knew the plane wouldn't be sold for a month I'd finish the ppl first. But since there have been multiple other offers I'm trying hard to not lose out on what will be my dream plane due to an insurance issue.

Talk to Parker. I'd imagine you can insure the airplane without your name on it. Some people own and insure airplanes with no intent to ever fly it themselves.

[Fly Boomer]

8 hours ago, bradcarr said:

As an additional piece of information I could care less about actually flying the mooney for my ppl.  I've got 3 night 3 instrument hours left. Ill gladly do all in a rented 152 if need be. I've just got to have coverage that includes my name so the loan will be given.  If I knew the plane wouldn't be sold for a month I'd finish the ppl first. But since there have been multiple other offers I'm trying hard to not lose out on what will be my dream plane due to an insurance issue.

Some underwriters will write "no fly" policies at a substantial discount.  Your airplane will be stuck in the hangar, but it may satisfy the loan people as well as the airport for hangar rental.  After you complete your certificate, you can add an instructor to the policy and remove the "no fly" provision.  Again, our resident expert is @Parker_Woodruff.

[Parker_Woodruff]

10 hours ago, bradcarr said:

As an additional piece of information I could care less about actually flying the mooney for my ppl.  I've got 3 night 3 instrument hours left. Ill gladly do all in a rented 152 if need be. I've just got to have coverage that includes my name so the loan will be given.  If I knew the plane wouldn't be sold for a month I'd finish the ppl first. But since there have been multiple other offers I'm trying hard to not lose out on what will be my dream plane due to an insurance issue.

We do this all the time.  We write the aircraft on a pro-flown aircraft policy.  Your CFI or a pilot of your choosing can keep the plane exercised for you, take you for flights where you're a passenger (you cannot receive training), deliver the plane for you.  Then we endorse the policy to include the owner pilot once the private certificate is earned.

I don't recommend student pilots in Mooneys for many reasons, and this is a nice way to get the plane you want while you're finishing up your training.

[PT20J]

6 hours ago, Parker_Woodruff said:

I don't recommend student pilots in Mooneys for many reasons

Even as there was a need to rapidly train pilots during World War II, there was a reason that the Army Air Corps started pilots from  a PT-17 or PT-19 before moving to more advanced aircraft. Foundational flying skills are best learned in a basic airplane.

[Jackk]

BWI insurance has been good to me

 

There is also this insurance that’s pay per use, daily/monthly/ etc 

 

https://www.skywatch.ai/aircraft-renters-insurance

[Schllc]

All so far has been sound advice.  Most pilots train in trainers and it’s tried and tested. 
But you can also do it the way you are trying now.  Several of us here did it the alternative method of starting in a Mooney. 
one big factor that hasn’t been elaborated on yet, is that you will need substantially more time before solo, as well as to progress through the training.
Trainers help minimize workload on someone assimilating to the stressful environment, different vernacular, communication procedures etc. Throw a highly complex, and less forgiving machine on top and it just takes more time. 
I do not see that as a bad thing, but I flew with an instructor almost exclusively for my first 100 hours and 65 or so of those were after I got my ppl. I stayed in training mode until I had my Instrument rating.  so be prepared to spend the time learning your skill and knowing your machine. 
Insurance (to fly your plane) will be high the first year and even higher the second year if you still don’t have your license.  Understand what you are getting into. 
 

[MikeOH]

1 hour ago, Schllc said:

All so far has been sound advice.  Most pilots train in trainers and it’s tried and tested. 
But you can also do it the way you are trying now.  Several of us here did it the alternative method of starting in a Mooney. 
one big factor that hasn’t been elaborated on yet, is that you will need substantially more time before solo, as well as to progress through the training.
Trainers help minimize workload on someone assimilating to the stressful environment, different vernacular, communication procedures etc. Throw a highly complex, and less forgiving machine on top and it just takes more time. 
I do not see that as a bad thing, but I flew with an instructor almost exclusively for my first 100 hours and 65 or so of those were after I got my ppl. I stayed in training mode until I had my Instrument rating.  so be prepared to spend the time learning your skill and knowing your machine. 
Insurance (to fly your plane) will be high the first year and even higher the second year if you still don’t have your license.  Understand what you are getting into. 
 

You do realize the OP does NOT intend to learn to fly in the Mooney he wants to buy?

23 hours ago, bradcarr said:

I could care less about actually flying the mooney for my ppl.

 

23 hours ago, bradcarr said:

I've just got to have coverage that includes my name so the loan will be given.  If I knew the plane wouldn't be sold for a month I'd finish the ppl first.

 

[midlifeflyer]

21 hours ago, Parker_Woodruff said:

We do this all the time.  We write the aircraft on a pro-flown aircraft policy.  Your CFI or a pilot of your choosing can keep the plane exercised for you, take you for flights where you're a passenger (you cannot receive training), deliver the plane for you.  Then we endorse the policy to include the owner pilot once the private certificate is earned.

I’ve seen a similar policy and was the pilot/CFI named in the policy who “exercised” the M20C. But in that one, the policy permitted the owner to receive training. 

[Schllc]

8 hours ago, MikeOH said:

You do realize the OP does NOT intend to learn to fly in the Mooney he wants to buy?

 

 

 No, that wasnt in the original post.

[Pinecone]

He also stated in a later post, he only had 6 hours to go to his checkride, 3 night and 3 instrument.

[PBones]

I just went through it. I am a student with about 39hrs, bought an M20K because the deal was great. First they said 9000.00 bucks to get insurance, then my buddy put his name on the pilot list too since he will be flying the plane. He has over 10k hours, that reduced the insurance to 5900.00. I have to get about 35-40hrs of specific training in the Mooney beyond my PPL hours as a stipulation.

Here is agent email for information: michael.hillard@bwifly.com