Will a previous incident affect new insurance rates? I'm considering getting back into flying after around a four year hiatus. I would also like to buy a new plane within the next year or so and that brings me to my story and question. My last flight as pic was in a Mooney M20b that suffered a complete engine failure while in flight. I was almost able to make it to an airport however, ended up short and had to make an emergency landing in a lovely sagebrush and cactus field just short of Casper WY. The NTSB determined that previous maintenance was at fault. Someone had replaced the magneto and failed to use NEW lock washers instead reusing the old ones. This allowed the magneto to vibrate loose during a long cross country and thus I lost all engine oil and ultimately the engine seized. So I'm wondering when I buy a plane do I disclose this information to the agent even though there wasn't an insurance claim on the aircraft as the owner didn't have hull coverage only liability? And will the incident affect my rates?
