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.