The USAIG is quoting Cirrus SR-20’s with Private pilots or better (no students) with 100 total hours and factory school checkout in the SR-20. We feel our rates/premiums are competitive. Our base hull rate on a $200,000 insured value is about 1.45% of insured value, or $2,900, and about 1.25% on an insured value of $240,000, or $3,000. Liability premiums are about $500 for a limit of $1,000,000 Combined Single Limit with no passenger sublimit.
We are excited about the Cirrus SR-20, its technology, ease of handling and the excitement it has brought to the General Aviation marketplace. The only reason the hull rate might be slightly higher than a comparable value new Cessna 172 or 182 is that the aircraft is new and does not have a history. Also, our understanding is that if airframe repairs are needed due to an accident, the aircraft must be shipped to the factory in Duluth since most airframe repair facilities have no expertise in composites. That will increase the repair costs over a metal airframe. However, over time, if the Cirrus develops an excellent safety record, and airframe repair facilities across the country become proficient in Cirrus approved composite repair, then the insurance rates on the Cirrus
SR-20 should approach those of the Cessna line.
David E. Baines
Vice President - General Aviation, USAIG