Overview:
The Aero Commander is a family of high-wing, twin-engine, retractable gear aircraft. The Aero Commander 500 family were designed for utility and business use and could hold up to 9 passengers or haul 1,400 pounds of cargo. The aircraft was initial designed to be sold to small feeder airline operators but was more successful for private business use or military uses.
Aero Commanders remain very popular aircraft and are in use around the world as light cargo and passenger transport aircraft. Some models of the Aero Commander can fly up to 330 mph.
Aviation insurance in general, is a very specialized industry and premiums vary depending on make and model of the aircraft, hull value, use of the aircraft, pilot history and qualifications and aircraft insurance rates even take into account the loss history of each specific make and model and the loss history of the industry as a whole.
Aero Commander insurance, like all airplane insurance, is broken down into 2 specific coverages. The first is Liability Coverage, which is standard on every aircraft insurance policy and the second is optional hull coverage, which covers damage to the aircraft itself.
Aero Commander aviation liability insurance covers damage caused by the aircraft, outside of the aircraft, specifically property damage, bodily injury. Aircraft liability insurance is typically offered for Aero Commander aircraft at $1,000,000 per occurrence (per incident) and includes coverage for passengers but limits that amount to $100,000 per passenger, which is included within the total liability of $1,000,000.
A real-world example of how this aviation liability coverage would protect you: If while flying your Aero Commander and damaged property or caused bodily injury outside of the aircraft, you would have the full $1,000,000 in coverage to pay for damages that occurred. If the airplane crashed and you had passengers inside the aircraft that were injured, your insurance policy would pay up to $100,000 for each passenger. Aero Commander typically holds 4 passengers, so you up to $400,000 of your total $1,000,000 insurance policy could be used to pay for passenger liabilities, leaving you with $600,000 for other damage outside of the aircraft or legal defense.
This liability coverage also applies as a bubble that follows the aircraft around. If the aircraft is hangered, liability coverage extends throughout your hangar and it is this coverage that airports will typically require you to have. It’s not a separate insurance policy, it is actually coverage built into your standards airplane insurance policy.
Other liability options: Higher liability coverage on the Aero Commander might be available depending on pilot qualifications and aircraft use.
The second coverage on an Aero Commander aircraft insurance policy is hull coverage and is an optional coverage. Aircraft hull insurance covers damage to the aircraft itself and is an agreed value, not subject to depreciation. Agreed value is decided during the initial insurance quoting process, the aircraft owner requests an insurance quote for his or her Aero Commander and requests a quote including hull coverage in the amount of say $100,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $100,000.
*Insurance companies may place additional stipulations on quotes to prove the value of your aircraft prior to binding, if your agreed value is higher than bluebook.
Most aviation insurance companies do not offer deductibles higher than $0 deductibles, which means in the event of a total loss, if your aircraft was insured for $100,000, you would get a straight check for $100,000.
Aero Commander Insurance Cost Breakdown:
As of February 2020, there are 5 carriers quoting Aero Commander insurance in the U.S. We consider qualified pilots to have at least a Private license, IFR/MEL rating with 2,000 total hours, 1,000 Multi-Engine-Land, 1,000 Retractable gear, 50 hours in the make/model and attend annual IPC in the Aero Commander
For an annual policy with $1,000,000 in liability only coverage.
Premium range for qualified pilots: $850-$1,050 per year.
Premium range for less than qualified pilots (low-time/etc): $1,100-$1,375 per year.
For an annual policy with $1,000,000 in liability coverage and $100,000 in hull coverage
Premium range for qualified pilots: $3,800-$4,260 per year.
Premium range for less than qualified pilots (low-time/etc): $4,380-$7,610 per year.
For more information or to get an actual Aero Commander aircraft insurance quote, please fill out a quote request online here or call us at 800.666.4359
-The BWI Team
