According to the pilot and the certificated flight instructor (CFI), the intent of the flight was a proficiency check required by the pilot's insurance carrier, and that the accident occurred while performing a simulated engine failure during the takeoff roll. The pilot reported that after the CFI retarded the power on an engine, the airplane veered to the right. As the airplane exited the edge of the runway he attempted to ground loop it in order to avoid an antenna that was directly in their path. The CFI reported that the pilot "delayed in retarding the power." The CFI subsequently retarded both mixtures, in an attempt to stop the airplane. The airplane subsequently impacted an antenna, which resulted in substantial damage to the fuselage of the airplane. The CFI reported no abnormities with the airplane prior to the accident.