Bell 429 Insurance Cost
In the 1990s, Bell had gone through several attempts to grow into lightweight multi-engine helicopters. A brief flirtation with building a twin-engine 407 was later abandoned for what came to be known as the 427. The 427 met performance expectations, but did not offer the interior space, loading convenience, and all weather performance helicopter emergency medical services (HEMS) providers wanted and found in rival Eurocopters. Bell, in partnership with Korea Aerospace Industries, began the design process of a new helicopter to meet this need.
At the 2004 Heli-Expo, Bell introduced a stretched derivative of the 427 to meet the industry desires, but after a negative reception, they elected to return to a clean-sheet design. Bell instead moved to their in-development Modular Affordable Product Line program for a new rotor design and combined this with an all-new cabin design, producing the first mockup of what would become the 429. Most components of the engines and rotor drive systems were borrowed from the 427, though the 429 uses a unique two blade on top of a two-blade tail rotor system for reduced noise. The prototype flew for the first time in early 2007 and achieved certification in July of 2009.
The standard 429 includes a glass cockpit and three-axis autopilot, with a fourth axis being an optional addition. Both versions of the autopilot are capable of single-pilot instrument flight rules (IFR) flying. To meet the needs of the air ambulance industry, an optional rear clamshell door was offered to allow easier patient loading and unloading. The original 429 was delivered with skid landing gear but in 2013 Bell introduced optional retractable wheeled landing gear. The retractable gear allows an increase in cruise speed of 5 knots for a weight penalty of 250 lbs. An optional dual-zone climate control system adds to rear passenger comfort.
The largest customers of the 429 are private operators such as businesses and individuals. The Canadian Coast Guard is the largest operator of the type with 15 in use. Additional operators include the Turkish Government, the New Zealand national police, and the Australian Navy.
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 aviation industry as a whole.
Bell 429 insurance, like all aviation 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.
Bell 429 aviation liability insurance covers damage caused by the aircraft, outside of the aircraft, specifically property damage, bodily injury, and provides for legal defense in the event that the aircraft owner or policyholder is sued.
Aircraft liability insurance is typically offered for Bell 429’s in amounts between $1,000,000 and $20,000,000 per occurrence (per incident) and includes coverage for passengers, but typically limits that amount to between $100,000 and $1,000,000 per passenger. Passenger liability coverage is included within the total liability coverage amount.
A real-world example of how this aviation liability coverage would protect you: If, as a result of operating your Bell 429 you damaged property or caused bodily injury outside of the aircraft, you would have the full amount of total liability coverage to pay for damages that occurred, less the liability amount paid for passengers inside the aircraft. If the aircraft crashed and you had passengers inside the aircraft that were injured, your insurance policy would pay up to the policy passenger limit for each passenger.
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 Bell 429 is available to qualified pilots with experience in the make and model and a minimum Commercial/RW/IFR license/Ratings and commercial helicopter uses.
The second coverage on a Bell 429 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 Bell 429 and requests a quote including hull coverage in the amount of say $6,200,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $6,200,000
*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 $6,200,000, you would get a straight check for $6,200,000.
Bell 429 Insurance Cost Breakdown:
As of January 2021, there are 7 carriers quoting Bell 429 insurance in the U.S. We consider qualified pilots to have at least a commercial license, with 2,000 total hours, 1,500 rotor-wing hours and 200 hours in the make/model.
For an annual policy with $1,000,000 in liability only coverage.
Premium range for qualified pilots: $3,500-$5,750 per year.
Premium range for less than qualified pilots (low-time/etc): $4,750-$6,700 per year.
For an annual policy with $1,000,000 in liability coverage and $6,200,000 in hull coverage
Premium range for qualified pilots: $15,000-$25,000 per year.
Premium range for less than qualified pilots (low-time/etc): $32,000-$45,000 per year.
BWI is a family-owned, nationwide insurance brokerage specializing in aviation insurance since 1977. Our dedicated Aviation Insurance Professionals are highly trained, hand-picked and experienced in helping Bell 429 owners and operators obtain the very best insurance coverage.
BWI offers comprehensive Bell 429 insurance policies for personal, business, charter, industrial aid, and commercial helicopter uses.
For more information or to get an actual Bell 429 insurance quote, please fill out a quote request online here or call us at 800.666.4359
