Bombardier BD-700 Insurance Cost

Bombardier BD-700 Overview:

The Bombardier Global Express is a large cabin business jet that was initially presented with a range of 6,000 nautical miles or 11,100 kilometers. It was designed and manufactured by Bombardier Aviation which was formerly known as Bombardier Aerospace.

The plane first flew in October of 1996 and entered service in July of 1999. It was initially powered by two BMW/Rolls-Royce BR710s and has seen subsequent upgrades to the engine that has increased the aircraft’s range. Variants such as the Global 5000, Global 6000 and Global 5500/6500 are also in operation. Military variants are also flown by a variety of nation states.

Currently, there are six hull-loss incidents involving the global express where the aircraft has been damaged beyond report. Those incidents include:

• November 11, 2007 – A Global 5000 landed short of the runway and collided with embankments. The landing gear collapsed and the plane skidded across the runway before coming to rest in a field at Fox Harbour Airport in Nova Scotia, Canada
• January 17, 2015 – A Global 5000 was severely damaged after exiting to the left of the runway at high speed at Tacloban Airport in the Philippines.
• April 16, 2019 – A global 5000 was severely damaged in a forced landing after flight control problems due to faulty maintenance at Schonefeld Airport in Germany.
• January 27, 2020 – A United States Air Force Northrop Grumman E-11A crash landed in a Taliban controlled area in Afghanistan.

Bombardier BD-700 Insurance Cost:

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.

Bombardier BD-700 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.

Bombardier BD-700 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 Bombardier BD-700’s in amounts between $1,000,000 and $50,000,000 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 Bombardier BD-700 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 Bombardier BD-700 is available to qualified pilots with experience in the make and model and a minimum Commercial/MEL/IFR license/ratings.

The second coverage on a Bombardier BD-700 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 Bombardier BD-700 and requests a quote including hull coverage in the amount of say $40,000,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $40,000,000.
*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 $40,000,000, you would get a straight check for $40,000,000.

Bombardier BD-700 Insurance Cost Breakdown:

As of January 2021, there are 8 carriers quoting Bombardier BD-700 insurance in the U.S. We consider qualified pilots to have at least a Commercial License and IFR/MEL ratings, with 3,000 total hours, 1,000 MEL hours and 50 hours in the make/model.

For an annual policy with $1,000,000 in liability only coverage.
 Premium range for qualified pilots: $3,250-$5,600 per year.

For an annual policy with $1,000,000 in liability coverage and $40,000,000 in hull coverage
 Premium range for qualified pilots: $50,800-$70,600 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 Bombardier BD-700 owners and operators obtain the very best insurance coverage.

BWI offers comprehensive Bombardier BD-700 insurance policies for personal, business, charter, industrial aid, and commercial aviation uses.

For more information or to get an actual Bombardier BD-700 insurance quote, please fill out a quote request online here or call us at 800.666.4359