The website crashed on last attempt to send - so forgive if this is a second posting…
I recently test flew an SR20. Nice plane. I’m close to a buy decision. Recently I contacted my insurance broker for a quote on the plane. The broker could only find 1 (one) insurance company who would quote this plane - and they wanted $6,000/yr!!! (I’m a 700 hr Grumman pilot).
The Cirrus rep indicated that many new owners are getting quotes in the $2K raange. I certainly would appreciate any leads as to where you folks are getting your insurance.
Thank you in advance for your help.
By the way … There is a group of Grumman owners who’ve formed an organization known as the American Yankee Association (AYA). Through this organization, Grumman owners are able to receive significant disccounts on insurance premiums. Something SR20 owners might wish to consider.
Thanks again.
I recently test flew an SR20. Nice plane. I’m close to a buy decision. Recently I contacted my insurance broker for a quote on the plane. The broker could only find 1 (one) insurance company who would quote this plane - and they wanted $6,000/yr!!! (I’m a 700 hr Grumman pilot).
It seems to me that you also need to be comparing
“apples with apples”.
That is: deductable, moving vrs not moving, amount of liability, theft etc. In canada I can tell you that glider insurance is in the process of going through the roof. (I am the volunteer CFI of the local gliding club.) We have a national group policy with now only one company interested. It is basically 2% of hull value if no accident history, not including liability. And this is based on the fact that our gliding season is only six months!
If I can get my fully loaded SR 20 or 22 insured for hull and 3 million liability for 6000 canadian I will be very happy. (1000 plus hours, no accidents, IFR rated and current)
If someone can get the same for 2K US I am interested!
The website crashed on last attempt to send - so forgive if this is a second posting…
I recently test flew an SR20. Nice plane. I’m close to a buy decision. Recently I contacted my insurance broker for a quote on the plane. The broker could only find 1 (one) insurance company who would quote this plane - and they wanted $6,000/yr!!! (I’m a 700 hr Grumman pilot).
The Cirrus rep indicated that many new owners are getting quotes in the $2K raange. I certainly would appreciate any leads as to where you folks are getting your insurance.
Thank you in advance for your help.
By the way … There is a group of Grumman owners who’ve formed an organization known as the American Yankee Association (AYA). Through this organization, Grumman owners are able to receive significant disccounts on insurance premiums. Something SR20 owners might wish to consider.
Thanks again.
I have been offered insurance by USAIG for $3460 and this includes 2 low time pilots, both instr. rated.
This is subject to the factory training program for each pilot.
When I got insurance, there was no one else to follow. I bound with AOPA (Tammy Orth) brokerage. The policy is written with London Aviation Underwriters. I wrote it for $160K hull and $1mm each occurance and big deductibles … $2K in motion and $1K not in motion deductibles. The rationale for me was that the insurance companies are risk adverse and the large deductibles demonstrated that I was willing shoulder a significant load and that they (the insurance co) would be burdened with “nickel and dime” claims. I paid about $2.2K for the year. I fully expect that the premium will go DOWN next year although I haven’t asked for a renewal quote.
If someone can get the same for 2K US I am interested!
The best quote for insurance on an SR20 in Australia we have had was 1.1% of hull value. This is for private use only, but flown by non-instrument rated pilots. I would have expected rates here to be lower than the USA (fewer ambulance-chasers). Anyone got any firm quotes from US insurers?
If someone can get the same for 2K US I am interested!
USAIG gave me the following quote for a Cirrus with a hull value of 210K, and a liability of $1 million:
$3,550
The aircraft would be hangered. I have 1,000 hours, with multiengine and instrument ratings.
I’d be disappointed if the rates don’t drop to about $2,500 when the companies get more experience with the aircraft, as the above-quoted price is close to piston twin prices. As for $6,000 a year, that’s more than I paid for a very nice Cessna 303 Crusader twin.
Walt, very useful info, thanks again for this. In your “first man to set foot in the New World” role there is lots of this kind of stuff you’re having to tell the rest of us.
Not directly on point, but related to insurance: I’m trying to decide whether to go ahead and get a commercial certificate. My motive is mainly skill-development, but also the nagging sense that it may make some significant insurance difference. Did the insurance person raise this point? Any sense of how much difference it would make with a Cirrus? (I understand and agree with your high-deductible logic.) Since it costs a couple of thousand$ in training costs to get the commercial certificate, it would have to be a significant savings to be worth it on those grounds, but just for info I wonder if you know about this. (And I’m going to be spending money on rentals anyway.) Thanks Jim F.
Walt, very useful info, thanks again for this. In your “first man to set foot in the New World” role there is lots of this kind of stuff you’re having to tell the rest of us.
Not directly on point, but related to insurance: I’m trying to decide whether to go ahead and get a commercial certificate. My motive is mainly skill-development, but also the nagging sense that it may make some significant insurance difference. Did the insurance person raise this point? Any sense of how much difference it would make with a Cirrus? (I understand and agree with your high-deductible logic.) Since it costs a couple of thousand$ in training costs to get the commercial certificate, it would have to be a significant savings to be worth it on those grounds, but just for info I wonder if you know about this. (And I’m going to be spending money on rentals anyway.) Thanks Jim F.
Jim,
For what it’s worth, my insurance broker has said that no significant difference in premium exists between private and commercial licenses. The real breaks are due to time, instrument rating, and ATP. This conversation occurred with Sandy at Regal Avaition brokerage in Hillsboro, Oregon the last time that I renewed insurance on my C310. I am a @1700 hour Commercial/multi/instrument pilot.
Scott C.
Walt, very useful info, thanks again for this. In your “first man to set foot in the New World” role there is lots of this kind of stuff you’re having to tell the rest of us.
Not directly on point, but related to insurance: I’m trying to decide whether to go ahead and get a commercial certificate. My motive is mainly skill-development, but also the nagging sense that it may make some significant insurance difference. Did the insurance person raise this point? Any sense of how much difference it would make with a Cirrus? (I understand and agree with your high-deductible logic.) Since it costs a couple of thousand$ in training costs to get the commercial certificate, it would have to be a significant savings to be worth it on those grounds, but just for info I wonder if you know about this. (And I’m going to be spending money on rentals anyway.) Thanks Jim F.
I agree with Scott’s comment. The biggest factors are overall time and an instrument rating with some experience.