helonorth Posted December 31, 2018 Posted December 31, 2018 Self insure like most private owners do. I think self insurance means no insurance. Quote
adam32 Posted December 31, 2018 Posted December 31, 2018 I think self insurance means no insurance. Set up an LLC, register the helicopter to it. Get a liability only policy and rock on. 1 Quote
helonorth Posted December 31, 2018 Posted December 31, 2018 Set up an LLC, register the helicopter to it. Get a liability only policy and rock on. In other words, if you crash the helicopter, you eat the loss and rock on. 1 Quote
adam32 Posted December 31, 2018 Posted December 31, 2018 In other words, if you crash the helicopter, you eat the loss and rock on. Yup. Because a private/personal pilot with a turbine and hull insurance will make even a rich man gawk at the cost...IF they will even insure him to begin with. I would venture to guess around $6,000-8,000 a month for a hull/liability policy. 1 Quote
helonorth Posted January 1, 2019 Posted January 1, 2019 Well I googled "how much does it cost to insure a helicopter" and sure enough, the figure that came up the most was around 10% of hull value plus 1%. So I got out my calculator and came up with 11%. So on a half million dollar helicopter, you're looking at around $60,000 a year, just on insurance! Now if you didn't insure it, in 8 years you will be able to buy another half million dollar helicopter with all the money you saved. Of course, if at any point you crash it, you will probably be out much, if not all, of the 500 large. I'm guessing with hangar space, fuel and maintenance, you would easily top a 100 grand a year to fly a small turbine...a 110 knot, 5 place aircraft you can really only fit 4 people in. What a deal! When engine sections come due or you burn it up, add another 20 to 30 thousand a year. Still want to buy a helicopter? As I said before, this game is for really rich guys, not just your average millionaire. Buy a Bonanza, be happy and have something you can actually use. And if you don't use it, it will only cost you about one tenth of what the helicopter would. And then you won't feel so bad when it just sits neglected in the hangar... or the marina... or the garage, like all the other expensive toys big kids buy and get bored with very quickly. I know, I've been there. Fortunately, I never had enough money to buy a helicopter. 1 Quote
Jaybee Posted January 1, 2019 Posted January 1, 2019 Yea, I'd buy a mid-time R44 for 200k-ish and have fun. With 100k put aside for insurance/maintenance put the other 200k into a CD or money market or something for a rainy day. 1 Quote
adam32 Posted January 1, 2019 Posted January 1, 2019 Well I googled "how much does it cost to insure a helicopter" and sure enough, the figure that came up the most was around 10% of hull value plus 1%. So I got out my calculator and came up with 11%. So on a half million dollar helicopter, you're looking at around $60,000 a year, just on insurance! Now if you didn't insure it, in 8 years you will be able to buy another half million dollar helicopter with all the money you saved. Of course, if at any point you crash it, you will probably be out much, if not all, of the 500 large. That's assuming you meet their Open Pilot policy minimums...most likely the OP doesn't so you'll have to factor in Bell Factory Training (if he buys a Bell) or a CFI for a number of hours until the insurance will let him go free...plus another % or two for their peace of mind. The last 212 I had a quote on for 135 work with high time carded pilots was $120,000 a year. 1 Quote
cherminator Posted January 1, 2019 Posted January 1, 2019 I paid $29,000. last year for $1 million hull and $5 million liability for my R66. 1 Quote
500E Posted January 2, 2019 Posted January 2, 2019 https://www.ainonline.com/aviation-n...s-could-double Our 500 was a fair bit less than that for hull insurance £8k , but with the above + the crazy prices for parts now glad we sold it.Still miss our own machine but there is a limit to toy price, the manufacturers are gouging your wallet, we ordered 4 nuts for a customer at $60 each !!! 5/16 1 Quote
adam32 Posted January 2, 2019 Posted January 2, 2019 I paid $29,000. last year for $1 million hull and $5 million liability for my R66. That's not tooooooo bad at all. 1 Quote
Discap Posted January 2, 2019 Author Posted January 2, 2019 I have been quoted 3% of hull for insurance. In line with the R66 quote above. Quote
Discap Posted February 5, 2019 Author Posted February 5, 2019 I would like to thanks everyone who commented on this thread. After much research I have just purchased an Enstrom 480B. Wayne Breeden at Helicopters Inc in Memphis helped with the prepurchase. He has also bravely agreed to check me out in it. The adventure begins Bill 3 Quote
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