Insurance! College student looking to buy
Asked by: Kyle Inbody 2864 views General Aviation
Okay some I'm going to college and I am looking for an older affordable airplane, within 300 miles I have found a piper colt and aeronca cheif for 11-15K, what is an expectable insurance on these plane for a 100 hr pilot? I don't need exacts I know it varies but I only want minimum, if I total the hull I scrap it out and count my losses. With a 5 year loan on these with annuals, hanger, 100hrs fly time a year, and at 1,300 insurance cost with some spare dollars per hour.I figured I can fly for under 8 K, I'll need roughly 4-5k to live, and after basic GPA and ACT scholarships I'll 30K.(including renting the universities plane for their entire program. To fill extra hours renting their craft 100 hrs a year will be 45k by the time I'm done. Owning would only be 30 which 4 years of work plus what I have already can handle, I'm looking for an ATP quickly and colts having the ability to run on high grade auto fuel and aeroncas whooping 4 GPH are easy to build in. Plus if I still am not to 1000 by the time I graduate and the loan is payed the $30 per hour and 4-4,500 annual upkeep can fill hours much more cost effective than renting- after 33 hours per year it saves money.
back to my question- what's a ball park insurance idea to re do my numbers with?
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