Insurance prices?

[PhatAJ2008]

How much could one expect to pay a year in insurance for an 2000 Cirrus SR20 with a private license and only about 70 hours TT?

 

[NW_Pilot]

How much could one expect to pay a year in insurance for an 2000 Cirrus SR20 with a private license and only about 70 hours TT?

One arm and two legs!

 

[woutlaw]

I know a couple of guys with similar times who purchased new (2005-ish) SR22s.

Their insurance bills were around 20k annually. Adding an instrument rating dropped that significantly, as in nearly in half, when coupled with the increase in time in the airplane.

The hull value of a 2000 SR20 (~160k) is going to be significantly less than that of a newer 22 (~350K+), so the rate shouldn't be that bad (relatively speaking.)

The annual premium on our flying club's 2000 SR20 is around 10k, but that's with a 400TT requirement and it's a policy written for the club and the greater number of pilots so it's likely higher than you'd see for an individual policy.

Have him call a broker, but if I had to guess I'd say somewhere around 8K, less once he gets an instrument rating and even less once he has a couple hundred hours in the airplane. Going through the factory transition course (either at the factory or from a local CSI) will probably be a requirement as well and money well spent.

If he needs a CSI who is familiar with 2000 SR20s send him my way.

The instrument rating alone will pay for itself in premium savings immediately.

 

[pilotyip]

Don't save money on insurance, go with a company with a known track record. I pay extra for Avemco, but I had a complete airplane loss in a hangar fire. They settled in 10 days no hassles. I have heard of horror stories from other fighting with their insurance company at settlement time. I pay 1100/yr for a C-172 hull value of 55K

 

[NW_Pilot]

Don't save money on insurance, go with a company with a known track record. I pay extra for Avemco, but I had a complete airplane loss in a hangar fire. They settled in 10 days no hassles. I have heard of horror stories from other fighting with their insurance company at settlement time. I pay 1100/yr for a C-172 hull value of 55K

I am in the six hundred dollar a year range on a C150M My Hull Is $30,000 and have increased liability's. Never Under Insure Either!

 

[Lead Sled]

Get some quotes - there will be some variation among the different underwriters. As pilotyip said, go with a reputable company.