Insurance for low-time pilot

[jmcmahon]

I recently got my PPL, and thus I am a very low-time pilot (just under 60 hours, of which ~50 has been in a C152, and the rest in a C172). I want to purchase an aircraft now, and I have the money to do so. I was thinking something simple, like a used C172 or similar.

My question is: as a low-time pilot with very few hours in the specific aircraft I will be looking to purchase, will I be able to get insured (liability + hull)? I have searched around on the internet for an answer, but did not come up with one, and obviously I could call some brokers, but I thought I would ask here first. For a simple aircraft, are there often stipulations of total time, time in type, etc? Also, given my experience, can anyone give an estimate of what they think insurance would cost per year (for example, for a 40000$ C172)? Thanks.

At some point I would like to step up to a complex and high-performance aircraft, like a Mooney. However, I am pretty sure that I will not be able to get insurance for that, until I become more experienced.

Jeff

[AEST]

If your requirements mean renting is an option then don't buy.

[jmcmahon]

Renting will not be a great option in the near future. I will be flying round trip (~150 NM) once or twice per week (weather permitting) for the next couple of years (if I don't have an aircraft, I will be driving). And I would also like to get a plane that I can do my IFR training in during that time as well. Thus, for a simple aircraft, operating costs should be significantly less than renting. Plus, I need the availability of a personal aircraft.

I am just curious how easy it will be to insure a simple aircraft, considering my low-time experience?

[birrddog]

Call a broker; costs nothing to ask, and you may be surprised.

One option might be to buy an aircraft, and lease it to a flying school who take care of insurance, maintenance, etc. + guarantee a certain no. of hours usage per month.

This way you get on their insurance, you know the aircraft is being regularly flown/checked/maintained and help reduce your overheads.

Seeing you are in the USA, I trust you are a member of AOPA? If not I would recommend it; they also have helplines to guide prospective first time purchasers.