It’s HOW MUCH to Insure my Airplane!? 😳

[@Gionix]

I like honest people like you, not every pilot has the honesty to left this bouncy landing, congrats for that 🎉

[@whomitmayconcern]

he is a honest and good dude. really is.

[@MrNarwhal101]

Definitely leave the procedural stuff place. New student leaning in a mooney and I like seeing how others do it! Will have my own mooney soon and very much looking forward to being able to do the things I'm watching you do. Thanks! Definitely appreciate the real world costs of things.

[@ericscott1895]

Leave all your check lists in. It helps us fly along with you. Love it!

[@robertstellan6017]

I agree hope he keeps it. Very thorough

[@soaring92]

I currently own a 150 right now and have seriously been considering a Mooney. Just found your channel so thanks a bunch for making these videos! It helps me out seeing the price difference to prepare for.

[@whomitmayconcern]

Get a Mooney and sell me your 150! Where are ya?! xD

[@TheIndyspace]

If someone needs a Mooney let me know...I have a lead on a good one for you. 😁👍🏻

[@hoosierbuckeyedaddy]

@@TheIndyspace Year/model/details? Listed on MooneySpace or one of the other trade classifieds?

[@eyesea123]

Your channel, and the information you share is priceless for someone who would love to learn, but is cautious. I thought is was much more expensive. For now, all I fly on is my horse. You're luring me into taking lessons...it just seems so damned cool!

[@joshsosbee8820]

I haven’t started my PPL yet so I really like the procedural stuff. It helps me learn vicariously. Keep up the vids!

[@matthewvisnaw4306]

I love going through the checklists. Youngster with a correct attitude.

[@Ifp154]

Appreciate your attitude of gratitude. Life and family are a blessing, flying is icing on the cake. Enjoy safely!

[@Bubba_Lynn]

I love the procedural things left into the video!! ✨

[@abbott876]

Love the checks and transparency mate.

[@jwiebe3697]

Good info. I like all the technical stuff on the run-up and stuff since I'm a student pilot. I was wondering about insurance costs, so I'm glad I found this video. Thanks!!

[@rkclime4]

Keep the cockpit pre-flight, good to see you are serious and conscientious. Always remember complacency kills! Great videos!

[@yankey4]

Dude! This is so cool!! I was born and raised in Charleston South Carolina. Other than commercial flights. I have not ever seen this much of my home from the sky. Thanks so much for sharing. God Bless.

[@mobis8153]

Great flight dude all the commentary is very helpful! Great content!

[@itsPlanesUSA]

As a fellow aviator I love the checklist procedure talk

[@Veteran_Aviator]

I like to checklist stuff in the video. It helps others, like myself, to build good habits. Adding or changing what I’ve been doing to be more specific and more deliberate.

[@bryceerban947]

I guess i will not be adding any one with low time to my policy any time soon! Love the series keep up the great work. 👍🏻

[@mhafter]

As a fellow Mooney M20E owner it's great to see the procedures. Very similar to what I learned during my transition training. The hardest part for me was learning how to slow it down. If I'm flying at altitude on a cross country I have to plan the descent 50 nm out. Insurance for me was very similar

[@Tommyflies]

Foreflight is great for that. I have it set up to tell me “Decent to Destination”. When it says 500 fpm. I start down.

[@brenthollady]

I love listening to the run up the check list the ATC communication. I think it's great that you share the good landings and the not so good landings (still safe) don't change a thing man. The only thing I ever wanted to do was to be a pilot but life took me another direction. Still I have a great job a beautiful family and I'm flying my PPG every chance I get so I'm a very lucky man. Keep making these videos keep living your best life, I am certain you will make it to the bigs fly safe my friend!

[@GreenBlueWalkthrough]

11:45 I know right? Like in 2021 I got a 2020 Ford Mustang primum nearly maxed out for $34k out the door $30k for the car... right now their is a fullly restored 1942 Taylorcraft grasshopper scout plane on trade a plane by a polane flipper company for $29k so I could have had that over my car... But seeing I use my car way more it made sense and plane I might rain in and then fly an hour a month? Not so much.... Though when my online creative career takes off...

[@Beech-cr2we]

Leave all the checklists and mistakes, great learning for all. PPL is just a license to learn is what my DPE told me. It was so true. Thanks for sharing.

[@dozermedic18]

Just came across this video and not finished yet, but; Yes, Please leave in all the procedural details! Nice work!

[@loupitou06fl]

Same experience here : M20E with 0hrs complex right after PPL. A year later and the IFR cert really lowered the premium, keeping it in a hangar and 120hrs in type are good milestones. Working on my commercial and hoping to see it drop again.

[@PrescottFlyer]

Enjoyed watching you go through your checklist.

[@bryantturner97]

Would love it if you did a video on your camera setups someday. Enjoy your videos. Thanks for posting!

[@terrysmith4748]

I absolutely love this kid and what he’s doing. I love getting students like him. Makes life easier as a CFI.

[@amocerino671]

Like the procedures 👍🏼

[@JohnHansknecht]

Awesome! I look up every time I hear a plane fly over at my house near JZI. I think I have seen you a couple times.

[@justharryjohnson7250]

I like that you keep the good and the bad in. And it's not luck, Tom. It's hard ward and determination that got you where you are. Is there any chance of a paramotor video soon ?

[@haroldrileyii3036]

Keep your procedures in it helps as I am a student pilot as well

[@Almostth3R]

Definitely continue your procedural parts of the video. I'm a few hours ahead of you in the same year M20, and I'm still learning. Ironically, our insurance rate is identical. Mine went up by $300, annually. I suspect they have they're figures in mind before we called. 😂

[@Fiftyx60]

Great video, and super interesting topic. Flying finances are always interesting to learn about .Thanks for sharing!

[@evanfusco1936]

I bought an m20c at the exact same TT but with an IFR and Commercial certificate and it was $300 more to insure! I guess being in my early 20s played a part. Just found you yesterday and really like what you're doing here!

[@whomitmayconcern]

Keep making videos man, we love it, you are going places bro! Hope we can link up one day, I fly in Florida.

[@yashrajaero-spaceheritagey2015]

Thanks for the great information. I was wondering what is your insurance agency.

[@oceanchiro]

Yes I like all the procedure stuff. That’s why I watch flying videos.

[@mattspokane]

I like the procedural stuff since I am just learning pilot training. I like to see how other people do it.

[@DWBurns]

I have a 1973 Piper Arrow, my insurance is $2,400 a year. I lost my medical so I can only fly with my friend from the office, NetJets, CFII, 6000 hours. My wife is a non instrument rated pilot with 400 hours in Arrows, A&P and all 3 of us have aircraft dispatchers license. I like your format, I like seeing how those of us who are responsible to rid the world of bugs fly. My Arrow has been inop for 10 weeks getting new electronic toys. We want to fly before winter sets in.

[@JB_Hobbies]

Nice video. What is maintenance like for you? And, is there much downtime for parts or anything else?

[@tommybridges690]

I like the pretakeoff checklist left in the video

[@TheBarzook]

Very interesting video. Just found out your channel. Being a J owner I like the procedural stuff for the E, helps me improve my own checklist. I like the reminder of the aborted TO or engine failure after TO. On my end it's about 4000$ in insurance this year but I'm low time TT and type (110 TT, 40 Mooney). It dropped almost 1k from what it was last year though so pretty happy about that. I flew with my 2 boys (7 and 3) this summer and they started fighting in the back seat, so I get your point, there's little you can do at 4500' to stop them from fighting or yelling in the headset at you are on final, it's pretty distracting. I love than plane though. Got it before I had my PPL and flew a 172 in my training, so the transition was steep for the 3-4 first hours. Now it's better but still a lot to learn which is a good part of the fun to it! Keep the videos coming!

[@justplanefred]

I think the procedural checklist is kinda neat as a person with a desire to become a pilot. May be boring for others though but nobody else does it.

[@photobusta]

Yeah love all the checklists!!

[@budowens6478]

Hey Tom great video. I own a Cessna 172, I fly about 150 hours a year. I do love my 172, but it would be nice to upgrade to a Mooney, I’ve heard you either love the Mooney or hate it. The way prices are with airplanes, I will probably stay with my 172. I’m a private pilot VFR, for my 172 with 60k hull insurance and 1800 hours I pay 580 bucks a year. Thanks for sharing man, looks like you’re a really good pilot.

[@michaelfagan2403]

Great video! Keep knocking out those hours and getting those ratings! If there's any way at all possible you should get in a full time training program and make the transition to professional pilot as soon as you can. I realize that's easier said than done but follow your dreams!

[@Night_Sketching]

That was an interesting runup, coming from a cessna guy.

[@Veteran_Aviator]

Insurance on my 180 is $3,600. 200hours at the time with 25 tailwheel hours and 0 high performance. When I started.

[@nitrostamped]

Always have the procedures, it's part of the process.

[@brandonnonya3680]

I just purchased a Maule. I have zero tail wheel time and the 1st quote was $7500 per year at 40k hull value.

[@Tommyflies]

Wow…

[@jacobellis6150]

I notice that in all your videos, you hit 25² during climb out. I thought your pitch should be flattest during your climb till you got to your cruising altitude? Is that not right?

[@Tommyflies]

That’s just my power setting (I’ve since modified this a bit, but…). You actually target an indicated airspeed during your climb. My cruise climb speed is usually 120 mph. The resultant pitch will change as you climb to maintain that chosen indicated airspeed. ✌️

[@RedvansChan]

Have you found it more cost effective overall to purchase a plane? I can rent an IFR 172 for $140/hr wet. I'd rather buy an m20 of some sort, but it doesn't seem cost effective

[@Tommyflies]

Yes, by far. But I wouldn’t start with a complex airplane. Insurance and instructors can be hard to find. Also, check rides are easier in slower, simpler aircraft. I started with a C150.

[@RedvansChan]

@TomKubat right on! Yeah I'm already commercial multi, instrument, so mostly looking for an efficient, "quick", time builder so I can actually do some fun XC lol

[@Tommyflies]

@@RedvansChan Oh. Then Mooney all the way 🤙. Pull it back and burn 6gph building time, or do 155 ktas at 9gph.

[@RedvansChan]

@TomKubat 155 true at 9gph, ain't gettin better than that until it's all electric! Keep up the great vids!

[@utah20gflyer76]

I pay 2600 a year for 85k hull, 1 million liability. I have 285 TT, 165 retract time, 150 hours in my Mooney. No IFR yet but about to start on it.

[@patriotsfan1236]

Get you IFR and commercial and build 400+ hours and you will see a huge drop. I pay only slightly more for an A36 Bonanza with a much higher hull value.

[@utah20gflyer76]

@@patriotsfan1236 I hope so, it would be nice to pay less. I am planning on doing my commercial right after the Instrument rating.

[@2airwolv]

I like the procedures

[@pappyodanial]

Because you didn't cut the landing I sub'd. Honest dude. I see a lot of other KZbin pilots cut their less than perfect landings.

[@scaviator4207]

Paramotors are cheaper, well sometimes. 😜

[@tevahflys]

I got quoted 7,700 for my zenith Zenair with a 50k hull price… I have 50hrs and no time in that bird

[@photobusta]

Do you miss your 150 at all?

[@Tommyflies]

Sometimes yeah. For nights when it real calm and you just want to go up and put around it would be nice to have. But I have the paramotor for that too 🤙

[@gman68137]

I like your procedure stuff, since you asked.

[@purdueschmidt]

That is a low hull value for that... insurance will total it in a hurry. Very lucky you didn't get a prop strike on that bounce... remember that prop is very close the the ground

[@EricEsser]

I dunno, I pay like $2500/yr for my 9 year old car and I have like 8000 hours of driving I guess. $2600 doesn’t seem like all that much.

[@purdueschmidt]

Either you are a horrible driver or drive an exotic car

[@EricEsser]

@@purdueschmidt You missed a third option. I live in California.

[@GolfFoxtrot22]

I do like all the procedural elements but not for every video. Always good to follow your journey.

[@wokkus5610]

keep the procedures in

[@alancornyn4482]

Keep the procedural stuff in. Good for memory. In Canada, you probably couldn’t get gear up insurance for any price for you first many hours. If I’m fast, I bounce. Oshkosh 2024?

[@Lucre993]

Procedures, Leave it all in

[@1dullgeek]

I like the procedural stuff left in there but with the chapter markers I get the option to decide whether or not I want to listen to it today. I really liked, "On takeoff my engine is going to die and I'm going to push forward immediately". Great reminder to really have a plan for the worst. And $2600 is a complete bargain for complex with no time. I have 350 hrs and 3 hrs complex time. I started looking around for a Mooney or a Piper Arrow, and I asked my insurance broker for an estimate and it was $6000. Re: hours, if you're going to be a professional pilot, how much twin time do you need to build? Will your next airplane be a twin?

[@braer240]

That’s not even bad! My insurance on citabria is $4000

[@braer240]

Never mind. Heard later you only had hull value of $60k. That is pretty rough. At least with planes it’s not required by law. Insurance for cars is a total scam. What can we do 🤷🏻‍♂️

[@afdchocolatemilk2107]

I'm a low time newly minted pilot and decided to get liability only on my Mooney, until I get my 80 hours in type my insurance company is calling for.

[@davidcollier3604]

I do not insure my airplane for what I could sell it for (too expensive) but for what I have in it. (more affordable)

[@TheWilliamHoganExperience]

The question isn't "How can you afford to own an airplane?" The question is, "How can you afford not to own an airplane?" I laughed when you pointed out that you can afford to own and fly an airplane because you forego fiscally ruinous - but common - luxury purchases like late model BMW M series automobiles. If you think insuring and flying an antique Mooney is expensive, dial-up your Gieco agent and ask for a quote for comprehensive and liability insurance for a new 20 or 30 something year old male driver in a late model M2 coupe! I'm gonna guess that's gonna be pushing $5,000 to $10,000 a year for the first year depending on where you live. Now, add in the cost to finance (or worse, lease) the $80,000 out the door cost at consumer automobile finance rates. Again, a young person like you with a short credit history, even a perfect one, is gonna be looking a high rate - 6% to 8% per year will cost you another $13,000 in interest - Assuming you put $20,000 down and finance $60,000 of your purchase, after 5 years you'll own the car outright, after spending $93,000 on it's purchase price, and another $7,000 x 5 years ($35,000) to insure it. So your total out of pocket expenses to drive and then own that common luxury car is gonna top $120,000 before you put a drop of fuel in it. Now, factor in maintence costs. It's a BMW, so problems will be frequent expensive, and increasingly common as the car ages. Auto dealerships don't make much on sales. It's the shop that drives dealership profits, so you're gonna be paying another small forture on the scheduled maintenace required to keep your warantee valid. Figure another several thousand per year for that. So you're done spending money on that M2 right? Not so fast! M2s roll on expensive, sticky high performance tires that wear out quickly. Price replacement costs for things like new tires once a year. Get a dealer quote for the 4 corner brake job your gonna need after a couple of years of commuting to that telemarketing gig. Factor in a new battery at some point, and of course all the fuel that 400hp engine is gonna burn. Then there are lisencing and registration, title, and tax costs, all of wich are tied to it's purchase price. Most young (and not so young) guys buy BMWs to impress the ladies and to one-up their freinds. After 5 years, you'll own a 5 year old BMW M2 that the local girls will yawn at because the new models are so much cooler. Your male freinds will resent you, and It will be worth half it's original sticker price on the re-sale market. By the time all is said and done, You'll probably be out of pocket for well over $120,000 and holding a rapidly depreciating asset worth maybe 1/3 of that. Then there's the "time value of money" and "opportunity costs" associated with using your cash to own a luxury car instead of investing that cash in Bitcoin or JP Morgan or EXXON or commercial real estate or whatever lol.... Average annual stock market (equities) return is 10% or so. 5x10=50, and 50% of $120,000 is $60,000 - basically the sticker price of that M2 before the dealer jacked it up with all those useless options and the undercoating. Instead of gaining $60,000 ininvestment returns, you missed out while burning roughly $100,000 in cash so you could look cool / provoke jealously in your fellow motorists. Instead, buy a high milage 10 year old Honda Civic for $8,000. Pay with cash. No need to fully insure it - just carry state liability minimum insurance. No one is gonna resent you for driving an Civic, they sip gas, and and are as cheap and reliable to own and operate as a sledge hammer. Besides - you're married right? That's gonna leave you with $100,000 or so cash over the next 5 years to purchase, maintain, fly, and tie-down /hangar an older single engine airplane. If you decide at any point flying isn't for you, you can likely sell that airplane for as much or more than you paid for it, less any deffered maintence or engine / airframe overhaul and inspection costs accrued. Your true cost to own, store, maintain, insure and fly that old airplane will be a fraction of the true cost to own and drive that M2. You know - drive it past the airport where wiser people diving 20 year old beaters laugh at you from 1,000 feet up doing a little pattern work before flying 300 miles to another State to grab a hamburger. If you're flying to build hours as part of pursuing a career as a commercial pilot, well, then it's an investment in future earning potential that could ultimately be worth millions of dollars to you and your family down the road. Oh, and chicks dig pilots way more than they dig BMW divers. Just sayin'.... ;-)