The Cost Of Airplane Insurance l Certified Vs. Experimental

JOIN mojogrip.net/mvp
Manage your aircraft maintenance with coflyt.com
Use the referral code: "MOJOGRIP" to get 60 days free.
Airplane insurance is one the cost to consider when looking to buy or build your aircraft make and model. Insurance rates will depended on a few factors; hull value of the aircraft, availability of parts, how many aircraft are in the fleet, you as the pilot, your total flight hours, ratings etc.
I've been asked a few times how much the insurance premium would be on an experimental like the Sling TSI. Here is a breakdown video of how much I'm paying for insurance on the TSi, and perhaps what you can look forward to if you decide to fly a certified or an experimental aircraft.
Become A Commercial Pilot In 9 Months www.slingpilot...
Use the referral code: "MOJOGRIP" to get $1000 OFF
Music:
bensound.com
hooksounds.com
youtube.com

[@doranjaffas7351]

You know Mike, I was getting ready to interrupt and I thought no, I'm going to listen to the whole thing and you did a really good job on this. I've been around aviation and insurance for many many years and as a general rule I know the ins and outs but you covered everything really well Something I hadn't thought of was build insurance. An example of needed insurance and this is a true story,, everything seems to happen years ago but I guess the older you get that's the way it is but this small experimental was departing from a grass runway and there hadn't been any rain for some time. As the Aviator turned crosswind and then I assume downwind to head to his destination the runway was on fire. Turned out the exhaust stacks as he was going down the runway set little tiny flames going into the grass and many aircraft were destroyed. I'm not sure if they ever located the individual or if he had liability insurance but this would definitely be a case for it.

[@homertalk]

Sounds like Airport Neglect. Airplane should be left alone

[@quintusboonzaaier6199]

For a moment I thought that N432DT was the high wing Sling! Thanks for the video Mike!

[@alanaspurling6469]

I’ve got liability only, through AOPA. I also paid extra to not have a minimum number of flight hours in make and model. It was an extra $10.

[@benderaviation]

Liability only makes a lot of sense for cheaper aircraft. Make your own collision/other policy by putting away some money into a bank account every month.

[@gix40]

Good Info Mike keep going. Bring that Baby on back to GA. Can't wait to see it.

[@Docinaplane]

Good topic!! Another factor I've run into is that airports have different required minimal levels of coverage if you base your plane there.

[@ericnelson4651]

Great timing, this is my project for tomorrow! Trying to get a quote for an experimental!

[@1shARyn3]

Many, if not most, airports require insurance if you are going to base the aircraft there. You can be denied parking if you don't have insurance --- and usually have to list the primary FBO (the one you pay the parking fees to) as a beneficiary on the policy. //Heads Up//

[@EJWash57]

Excellent points. Then again, you have a habit of making those. Thanks.

[@MrZrryan2]

I have run into FBO's demanding annual proof of insurance... same for renting hangar space... this is a very common practice. BUT, i have NEVER seen anyone being asked to list an FBO or a hangar owner as a beneficiary. That's a new one on me.

[@paulhansard948]

Mike, Can’t wait for that plane to come to Georgia. I’d love to see it in person.

[@LeftSeatAdventures]

Thanks Mike! Getting close to flying my project, insurance is currently at the front of my mind.

[@TheEarthandyou]

Someone should tell KZbin that we tend to watch and appreciate ads if they are related to the youtube video topic and are at the end of the video. I wonder what benifit it is to anyone to pester with annoying ads of unrelated stuff we will never buy. All that does is reduce the quality of youtube. Thanks. This video is a good example of how it is well done... in all regards.

[@davecasler]

Very informative. Thanks!

[@JonMulveyGuitar]

Great clip! Excellent info! Thanks, Mike! Go MojoGrip Go!!:-)

[@AV8OR51]

We are paying ~$1,800 (4 partners) on a hull value of $65k for our Grumman Tiger. Rates have steadily gone up from ~$1,200 to $1,800 within 5 years of our ownership. Natural disasters and aircraft accidents were to blame, I was told.

[@MrZrryan2]

you guys are getting hosed. Time to shop around. Assuming all pilots are current, have at least 20 hours on type, and ZERO accidents, zero claims, and zero FAA enforcement actions... you should still be right around 1200 for a 65K fixed gear bird. Shop around. Join and use AOPA resources to shop around.

[@notpoliticallycorrect]

Excellent video! I love your channel!

[@greenthumb6875]

What about instruments, you somehow sold me on a PC-12, a lot of pilot’s are saying “they heard that the ‘Honey Well’ Instruments are not as reliable as the ‘Garmin’.” Which are used on the TBM or the Denali. Your thoughts. You may have covered it, I’m looking.

[@scrapperstacker8629]

Great information, thanks for sharing!!

[@yiasou1027]

Terrific. Thanks for the great advice.

[@moneymikeslickwill8749]

Great video mike

[@nightfall22]

Highly informative

[@politicalsheepdog]

I would think Liability insurance would be a minimum of what a pilto should have.

[@robg6965]

Great video Mike. Very informative. Which brings me to my questions. I work at a major aerospace company and I get to see the detail parts, assemblies and structures that go into making a modern jet airplane. The majority of parts arrive with primer, are installed, sealed and painted prior to corrosion inhibiting compound application. I noticed that the sheet metal parts you are assembling do not have a base primer coating. Are you going to do a primer application following a certain stage of build? Is sealant application done and at what point in the build? Is final paint and corrosion inhibiting compound used at all in the build of your aircraft on the interior side? Is there a pressure test performed to find areas where leaks may occur? I look forward to seeing more videos of your build. I find it interesting and educational seeing how other type of aircraft are assembled. Continued success and enjoy your build.

[@mojogrip]

Hi Rob, we will be applying corrosion X after the airplane/parts are painted.

[@ericlaw2416]

This was really good info Mike, thanks. Any idea how much your quote would change if you get your IFR rating?

[@mojogrip]

Don't know yet. I'll update when that happens 🤞🏾

[@robhenderson4454]

Very informative. Can you suggest an insurance company?

[@cliffordfarrugia7008]

Hi Mike. Do you know of anyone in Europe that has built a Sling tsi that can share info about the building and operating costs ? I can't seem to find any info online related to operating one the EU.

[@jonbrownsquad]

Great video. I was wondering, if I'm a low time pilot and split insurance with a commercial, CFI pilot. do you think the rates overall would be lower?

[@mojogrip]

Likely lower because of your CFI partner. Now they could see it the opposite way 😊

[@jonbrownsquad]

@@mojogrip that's what I was thinking. Either way, worth the call. Keep up the good work Mike

[@jumpleadsx2]

I cant believe you can fly an aircraft over anyones property without liability insurance. If that's true theres probably a unicorn hiding in your chimney.

[@martinsaunders7925]

One of the things that makes America great is the LACK of laws and requirements.Along with Australia India and China you can build and fly aircraft without a license or insurance.Its no accident that these countries lead the world in aviation engineers and innovative designs.Burt Rutan an obvious example in the U.S.A.

[@EJWash57]

@@martinsaunders7925 Yeah. Freedom to destroy other's property and not have to pay. This is somehow "great"?

[@BStrambo]

@@EJWash57 Well, homeowner's or auto insurance would cover that person's home, car or personal property. Then, their carrier would sue the pilot and/or the carrier for any type of liability insurance they have. Not as dramatic as your lame comment and almost as rare as a unicorn an uninsured aircraft crashing into property.

[@martinsaunders7925]

You must have had a personal experience of a plane landing on your property and not being insured.Which infers you don't have home owners insurance.

[@EJWash57]

@@martinsaunders7925 I would not enjoy living that lifestyle or mindset. So much more peaceful doing what's right, and NOT causing headaches to others. hey, maybe that's why I'm still passing 1st Class Medical exams in my sixties, eh?

[@nate9352]

First like and comment! Love your videos mike!!

[@heikogehrig]

Very informative, thanks!

[@jeromes5141]

Good topic MG. Someone gave me an insurance company to call and they quoted me $1900. The person that gave me the info has the same type aircraft I'm looking for and is paying about 2k. I though I would be paying about $1200-1500 having a CPL which the person doesn't. I also think where you live and if the plane will be hangared or not will also affect the price for coverage.

[@montgomeryavionics8721]

Great information, thank you!

[@toddatteberrywife6715]

Hey bro love you videos bro my dad was part of EAA my whole child hood all the way up until he passed away in 2005 but he built planes ✈️ him and his friend did to you remind me of him He was always chasing this plane Project or we’re going to some other man hanger to check out this new thing etc .. it was a lot of fun cool Channel bro

[@savethedeveloper]

thanks for sharing the quote. I bet it goes down once you get 100hrs in it

[@franciscastiglione3191]

Thank you for that run down!

[@MrZrryan2]

FYI - FULLY insured including 2M liability.... my last two planes were; an older 172, valued at 40K, insurance cost was typically 700 per year. Sold that and bought a nice older C182, value 80K, insurance is now 1500 per year. I have ~1000 hours and licensed for ~30 years. Like you said, the single biggest factor is HULL VALUE. Between your quote and my two real world examples, it's not hard to estimate cost per hull value... somewhere around $ 18.00 per thousand dollars of hull value. (hull value in thousands of dollars X $ 18 = annual insurance costs) roughly. Fairly accurate way to estimate what insurance SHOULD cost...

[@PlaneUkraine]

Thanks for the video

[@ChuckPetras]

Thanx! I just got interested in aviation, always wanted to get a helicopter license. 1st vid I've ran across talking about insurance.

[@leecoleman822]

She looks right , less and less hands as you go forward . Congratulations 🚁

[@1907sarilaci]

Thank you Mike. Very helpful information.

[@Ben-bg2lp]

Duuuuude! So great to finally see you! Your voice is super chill!

[@alexandrenazario7857]

Thanks for the video Mike...

[@michaelharper895]

More build videos please

[@joebloggs8785]

Do you have experience dealing with airplane insurance claims? I've heard a couple of horror stories in my club with the insurance companies evading their agreement to pay out.

[@mojogrip]

Never have and hopefully never will