Bombardier Challenger Overview:
By the late 1990s, Bombardier had developed an extremely successful business jet line in the Challenger 600-series, where the earlier 600 and 601 had been developed into the heavyweight 604. The 604 was a capable machine, but it’s high endurance and long-range came at the penalty of slower climb rates and particularly restricted takeoff performance.
Seeking to target customers who would appreciate improvements in runway and climb performance with minor reduction in maximum range, Bombardier launched the new Continental at the Paris Air Show in 1999. Rather than basing the design off of the earlier Challenger, Bombardier chose to go with an entirely new design. The wing incorporated a supercritical airflow to reduce drag and allow cruising at over 450 knots. The same wing allowed the service ceiling to be raised to 45,000 feet to allow reduced fuel burn as well as the ability to get above weather and turbulence, while advanced Fowler wing flaps gave low takeoff and landing speeds and the resultant shorter distances. The all-new Honeywell HTF700 engines were chosen, producing almost 7000 pounds of thrust each, combined with full authority digital engine control (FADEC) for ease of operation and engine health monitoring to improve time between maintenance visits. Prior to introduction, the aircraft was renamed the Challenger 300.
The new Challenger was an immediate success, rapidly adopted by both private and commercial operators. Major charter operators NetJets and Flexjet were both early customers who would adopt large fleets. The capability provided by the advanced new design allowed the 300 to perform most of the missions of the larger 604, while maintaining the market for the 604 for customers who needed long-range performance.
More than 400 Challenger 300s had been produced by the 2013 European Business Aviation Association conference where Bombardier announced a new follow on version: the Challenger 350. The 350 would use the same fuselage structure and wing but uprated engines, new winglets, and additional fuel storage would allow improvements in speed, range, and lifting capacity. New interior options would increase choices and luxury for passengers. Bombardier closed the show with an order by NetJets for 75 of the new model.
By 2020, the 350th model 350 had been produced. Though competition was increasing with brand new rival designs from Embraer, Bombardier had maintained a steady order book and Bombardier was claiming that nearly two-thirds of the super-midsize market was filled by the 300 and 350.
Bombardier Challenger 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 Challenger 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 Challenger 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 Challenger’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 Challenger 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 Challenger 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 Challenger 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 Challenger and requests a quote including hull coverage in the amount of say $10,500,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $10,500,000.
*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 $10,500,000, you would get a straight check for $10,500,000.
Bombardier Challenger Insurance Cost Breakdown:
As of January 2021, there are 8 carriers quoting Bombardier Challenger 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: $1,650-$1,800 per year.
Premium range for less than qualified pilots (low-time/etc): $1,900-$2,300 per year.
For an annual policy with $1,000,000 in liability coverage and $10,500,000 in hull coverage
Premium range for qualified pilots: $15,800-$18,600 per year.
Premium range for less than qualified pilots (low-time/etc): $34,000-$50,000 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 Bombardier Challenger owners and operators obtain the very best insurance coverage.
BWI offers comprehensive Bombardier Challenger insurance policies for personal, business, charter, industrial aid, and commercial aviation uses.
For more information or to get an actual Bombardier Challenger insurance quote, please fill out a quote request online here or call us at 800.666.4359
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*Always consult your insurance policy for exact coverage specifications, exclusions and details.
