Just got back from Sun n’ Fun where I was about to plop down my deposit and get in line. I decided to check on insurance for the SR20. I’m VFR with 200 hours, but plan to be IFR rated by the time I would take delivery. I was amazed at the quotes; $6,000 to $8,000 for hull and liability. One insurance company would only give me a $5,000 deductable at those rates.
What kind of insurance rates are any of you seeing and from whom? This airplane hits the sweet spot in the market and I want to line up to get one, but I can’t handle insurance rates like these.
I have a second pilot (VFR/250hrs) and myself (VFR/1500hrs) on my policy for just over $3000 including the 10% premium to add him.
They required factory and the 250 hour pilot needed 10 hours of dual in the aircraft - factory training is about six.
The open pilot requirement is 500 hours, factory approved training, and 10 hours in type.
The rate for the total broke down to $300 for liability plus 1.15% of hull value.
A 10% discount is usually given for an IFR rating.
If there aren’t too many SR20 claims before you get yours (with none the rates could down) I would think you should be able to insure it for about $3000.
Not bad compared to auto insurance and about the same as a Skylane which has one of the lowest rates based on its history.
I would recommend checking with AOPA and AVEMCO when the time gets close.
Just got back from Sun n’ Fun where I was about to plop down my deposit and get in line. I decided to check on insurance for the SR20. I’m VFR with 200 hours, but plan to be IFR rated by the time I would take delivery. I was amazed at the quotes; $6,000 to $8,000 for hull and liability. One insurance company would only give me a $5,000 deductable at those rates.
What kind of insurance rates are any of you seeing and from whom? This airplane hits the sweet spot in the market and I want to line up to get one, but I can’t handle insurance rates like these.
Just got back from Sun n’ Fun where I was about to plop down my deposit and get in line. I decided to check on insurance for the SR20. I’m VFR with 200 hours, but plan to be IFR rated by the time I would take delivery. I was amazed at the quotes; $6,000 to $8,000 for hull and liability. One insurance company would only give me a $5,000 deductable at those rates.
What kind of insurance rates are any of you seeing and from whom? This airplane hits the sweet spot in the market and I want to line up to get one, but I can’t handle insurance rates like these.
There is an article in the latest edition of aviation consumer about this issue. As I recall, the low time VFR guy is best advised to get an IFR rating - in extreme cases the savings can pay for the rating!
How much liability were you looking at?
Do you have an accident history?
What was the rate for a 1000 hour pilot? (Something you could aspire to achieve in a couple of years? 
)
Were these folks familiar with the airplane? Its strikes me that one issue may be that there is no “tack record” yet.
That said, I am budgeting $4,000 US per annum with 1 million liablity, IFR rating, glider instructor rating and just over 1000 hours over 20 years and (knock on wood) no accidents.
Where did you get yours at? AOPA? Please give us the name and phone number. Maybe if more and more people bought insurance from the source, we can get better rates?
Check aopa.org.
They are a broker whereas Avemco actually is an insurer and writes the policy.
Mine is a USAIG policy from AOPA.
Where did you get yours at? AOPA? Please give us the name and phone number. Maybe if more and more people bought insurance from the source, we can get better rates?
Check aopa.org.
They are a broker whereas Avemco actually is an insurer and writes the policy.
Mine is a USAIG policy from AOPA.
Where did you get yours at? AOPA? Please give us the name and phone number. Maybe if more and more people bought insurance from the source, we can get better rates?
I’m a recent VFR-rated pilot also coveting the SR20. I have 110 hours and requested a quote on a 2002 SR20 from AOPA. This is the reply I received from Randy Kenyon:
Michael,
Since we cannot accurately quote the 2002 Cirrus, here is a quote on a 1999
model valued also at $200,000.
the pilot time is a little hight than yours, but this should be a good ball
park for you.
Liability $1million/ $100,00 each passenger $3,000 Med pay $200K on hull
full flight and ground.
Annual premium $3140
Please call if you have any questions. Randy Kenyon 1800 622 2672 Ext 101