Cessna built aircraft are some of the most widely produced and well known aircraft in the world. Whether you own a Cessna 172 or a Citation Jet, know that you have a well built aircraft but no matter how well it’s built or how great of a pilot you are, you can’t completely protect it from sudden mishaps.
Further, if your plane causes damage to other people, aircraft, or property, you’ll be held legally accountable for it. That’s why you must get Cessna aircraft insurance.
A quality aircraft insurance provider covers repair or replacement costs for your Cessna aircraft. So go through this guide to know everything about getting a BWI Aviation Insurance policy for your Cessna plane.
Cessna Aircraft: A Brief Overview
Cessna Aircraft is an American aviation aircraft manufacturer based in Wichita, Kansas. The company is famous for its small piston aircraft, turboprops, and massive business jets. It became a part of Textron Aviation in 2014.
Clyde Cessna tested the first Cessna aircraft in 1911 that flew between the Mississippi River and the Rocky Mountains. Clyde was the first person to do so.
Later in 1927, he established Cessna Aircraft with Victor Roos, who later resigned, making Clyde the sole company owner. Currently, it’s the most-renowned aviation aircraft manufacturer in America.
Over the years, Cessna has built more than 190,000 aircraft, including Cessna 150, Cessna 172, Cessna 182, Cessna Caravan, Cessna 400 series, Cessna Citation, Cessna Skylane, and many more.
Should You Get Cessna Aircraft Insurance?
Being a Cessna aircraft owner, you may think: “Why would these great aircraft need insurance anyway?”
The Federal Aviation Administration also doesn’t oblige aircraft owners to get insured. But you should do that no matter how outstanding your aircraft is.
A quality insurance policy can help you get out of sudden big troubles.
For example, if you accidentally damage anyone’s property or injure someone with your aircraft, an insurance policy will cover these costs.
Aircraft insurance is a requirement in some instances. Suppose you’re planning to finance an aircraft purchase. In that case, the lender may ask you to fulfill specific insurance requirements before giving you the loan.
Besides the financial aspect, there is also an emotional factor. You saved your hard-earned money over the years just to get a fantastic Cessna aircraft to fulfill your passion. So of course, you don’t want your beloved aircraft to get destroyed suddenly, right?
This is why you need to get your Cessna aircraft insured as soon as possible.
Cessna Aircraft Insurance
Aircraft insurance is a long-term investment that mitigates your aircraft’s damage risks and reduces your financial burden. You may come across two types of Cessna aircraft insurance policies:
Liability insurance offers three types of coverage:
- Bodily injury or death of a third party
- Bodily injury or death of passengers
- Property damage to a third party
It excludes coverage for:
- Intended injuries
- Bodily injury to staff
- Contractual liability
- Damage caused by noise, pollution, or electrical or electromagnetic interference
You can purchase all three coverages separately or combined under one agreement, called a smooth limit. In the case of separate purchases, each type of coverage will be subject to an individual limit per occurrence.
Your insurance provider will give you two options for the bodily injury sublimit:
- Per-person Limit. It usually restricts monetary payouts for injured passengers or third parties. This means you would have to pay for non-passengers injury costs on your own. So it’s better to avoid it.
- Per-passenger Limit. It limits coverage for damages and injuries sustained by only the passengers. It is the best option.
Let’s say your plane collides with a car during an emergency landing and the car’s owner is a non-passenger. Your policy includes a per occurrence limit of $1 million and a per person limit of $100,000.
In this case, it will only provide coverage for the driver’s damage for up to $100,000, and you’ll be responsible for paying the rest of the costs on your own. But if your Cessna aircraft policy has a per passenger limit of $100,000, it will cover the damages of injured passengers, and the driver would be paid per the occurrence limit.
Hull insurance covers the damages sustained by your Cessna aircraft. You’ll have three coverage options to choose from:
- Ground & Flight. It covers the aircraft damage resulting from any peril not notably excluded, regardless if the aircraft was on the ground or in flight.
- On the Ground.It provides coverage to the aircraft when it’s not in flight and on the ground, whether in motion or stationary.
- Not in Motion.It covers damage to the aircraft when it’s on the ground and not moving.
Hull insurance excludes damages caused due to:
- Wear and tear
- Electrical breakdown
- War and related situations
- Excessive heat in the engine
- Confiscation from a government authority
- Fire or explosion due to a collision
Is Cessna Aircraft Insurance Expensive?
The costs for the aircraft liability insurance and physical damage insurance (hull insurance) are only a part of what owners pay when buying an aircraft. Both of these insurance policies are not that expensive.
For example, according to an estimation, the insurance cost for Cessna 172 (private pilot) with $100,000 per passenger and $1,000,000 per occurrence limit is $175.
However, the costs may vary depending on the type of Cessna aircraft insurance. It could start from as low as $200 and go to $30,000 for liability and hull insurance combined. But remember that these are only estimations and not exact quotes.
BWI Aviation Insurance gives you an exact quote for your Cessna aircraft insurance.
According to the National Cessna 180/185 Insurance Program, the annual costs for a $1,000,000 liability-only coverage policy are:
- A premium range of $384-$505 for qualified pilots
- A premium range of $470-$630 for less than qualified pilots
The annual costs for $1,000,000 liability coverage and $110,000 hull coverage are:
- A premium range of $2,110-$2,340 for qualified pilots
Aircraft owners can minimize their Cessna aircraft insurance costs by purchasing less coverage. For example, if your aircraft only has two seats, you can use a liability policy of $500,000 per occurrence rather than $1,000,000. However, the difference would be almost negligible.
Let BWI Meet Your Cessna 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