Deciding which aircraft to buy is about more than just choosing the aircraft itself. If you want to get a real sense of how much it will cost you in the long run to own an aircraft, you have to consider the cost of insurance. A plane is only a good deal if you can afford to keep it up in the air.
There are several factors that go into what makes some aircraft easier to insure than others. If you have any questions, talk to an experienced aviation insurance broker before you make your purchase. They can give you an idea of the types of coverage you will need and how much it will cost.
Factors That Affect Which Aircraft Are the Easiest to Insure
When you are shopping for an aircraft, keep these factors that affect the cost of your insurance in mind.
Hull Value
Your hull damage insurance covers damage to the plane itself. You will generally have three options when it comes to choosing your hull coverage, including:
- Not In Motion – This covers you when your aircraft is stationary on the ground.
- Not In Flight – Covers you when your aircraft is on the ground, whether it is moving or not
- Ground and Flight – More comprehensive coverage that includes both on-the-ground and flight incidents
You don’t have to buy hull insurance, but you are taking a big risk if you don’t. Even small damage can bring on big expenses when it comes to repairing an aircraft. This is why planes with lower hull values are easier to insure. If you are an inexperienced pilot in an expensive plane, you may have difficulty getting a quote.
Parts and Service Availability
The costs of servicing and repairing aircraft are rising, along with the price of parts. This is in part due to economic factors that face several industries, but there are problems that are specific to aviation.
Supply and demand in part dictate the costs of repairing aircraft, especially rare or older aircraft. As plane models age, there are fewer mechanics to work on them and fewer parts in supply. This makes their price go up. Insurance companies take into consideration the cost of repairing a plane when they give you a quote.
One factor that can help is if an aircraft is older but it is still used frequently by flight schools, charters, and FBOs that rent planes. The more aircraft there are of a particular model, the easier it will be to fix them.
Pilot Factors
It is also easier to insure an aircraft based on who is going to fly it. Some planes are easier to fly, and therefore it is easier for students and part-time pilots to spend time flying in them. There are several factors related to the relationship between a pilot and a plane that insurance companies consider when coming up with quotes.
- High make and model hours, especially as the Pilot-in-Command, or PIC on that specific plane
- Higher total flight hours
- A clean record in your specific plane and in others
- Additional certifications and ratings
- Ongoing pilot training
Focusing on these factors can turn a plane that might normally be harder to insure into one that insurance companies are more than willing to cover.
Easier To Insure Aircraft For Newer Pilots
There are several aircraft that fit all or some of the criteria above, and thus are cheaper for you to insure. You can more easily insure, for example:
- Cessna 150/152 – These models are two-seaters that are very popular amongst students and newer pilots.
- Cessna 172 – Another model that is popular for training and newer pilots, but with four seats.
- Cessna 182 – Similar to the Cessna 172 but with more engine power for pilots who like to take it up a notch.
- Piper PA28-140, 150, 151, 160, 161, 180, 181 – There are plenty of these Piper models out there, as they serve as competition to the Cessnas. Insurance companies have plenty of data on which to base their quotes
- Piper PA32 – You may need an instrument rating to get the lowest insurance rates to cover this plane. If you do, this six-seat version of the PA28 becomes another easy-to-insure model.
Easier to Insure Aircraft For Advanced Pilots
Not all planes flown by advanced pilots are hard to insure. Some makes and models are plentiful enough and have enough available spare parts and qualified repair technicians to work on them that insurance companies can charge less than they can for other models. Easier to insure aircraft in this category include, for example:
- Mooney M20 – This four-seat, retractable gear aircraft is good for long trips. It has been around since the 1950s, so insurance companies have decades of data on this model.
- Piper Arrow – This plane is similar to the PA28 model mentioned above, but with retractable gear. While this makes the plane more expensive to insure, overall the premiums put it in a class of planes that are easier to insure than other retractable gear models.
- Cirrus – Times have changed for insurance rates for cirrus aircraft, as rates have been coming down thanks to competition and improved training on the aircraft.
Easier To Insure TailWheel Aircraft
If you are a fan of tailwheel aircraft, you will be glad to know there are several models that insurance companies are comfortable providing coverage for. There are plenty of these planes out there, and they have better accident and service records than some other models:
- Cessna 170 – This is a solid and reliable aircraft that has been around since 1948. Because more than 5,000 of them have been built, insurance companies are able to more easily calculate their risks when insuring this aircraft.
- Piper J3 Cub – Insurance companies are also familiar with this tailwheel aircraft that has been around since 1938. The company has produced over 20,000 Cubs, so there is a well-established history of their stability and the availability of parts and service.
- Aeronca Champ – This competitor to the Piper Cub was built for both training and personal use. It is a popular plane, and with over 10,000 built insurance companies know what they are getting into when they offer you a policy.
Let BWI Meet Your Aviation Insurance Needs
Whether you are looking for an aircraft that is easy to insure or have your heart set on one regardless of the costs down the road, let BWI Aviation Insurance get you the quotes you are looking for.
We were recognized by Investopedia in both 2021 and 2022 as a top aviation insurance company thanks to our focus on customer service and getting you the best quotes for all of your aviation insurance needs.
Why choose BWI Aviation Insurance?
Over our 42 year history, BWI has built longstanding relationships with all of the above Aviation Insurance Companies. We work hand in hand with the above companies and leverage our experience to find the best market for your particular airplane insurance risk.
To ensure that you are getting the absolute lowest rate and best coverage with a rock solid A+ rated Aviation Insurance company, get a quote with BWI today. We specialize only in Airplane Insurance and our office is open 12 hours a day. Our agents are friendly and knowledgeable, and most importantly they are agents that you can trust to get you the best coverage for your needs. Aviation Insurance is all that we do and have done for 42 years.
Call 800.666.4359 today for a free Airplane Insurance Quote or Click Here to submit a quote request online.
BWI is the Nation’s Leader in Aviation Insurance, with offices based in Corona, CA and Anchorage, AK
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