Bombardier CL-600 Insurance Cost

Bombardier CL-600 Overview:

Also referred to as the Challenger 600, the Bombardier CL-600 is a series of business jets manufactured by Canadair in the late 1970’s. By 1986, Canadair found itself on the verge of bankruptcy and that’s when Bombardier swooped in to purchase the company. Fast forward to 2015 and over 1,000 Challenger 600 series aircraft have been put into service.

This aircraft is a twin-engined business jet that has found a strong following as a private jet escorting VIPs around the world. It uses a widened fuselage that allows a “walk-about cabin” for more room and space preferred for private travel. The aircraft has also found a home in government and military service for a host of nations. The United States Coast Guard uses it to provide VIP transport for high-ranking members of the Department of Homeland Security as well as Coast Guard officials.

As of May of 2019, the Challenger 600 series fleet has produced a total of 17 hull loss accidents which have brought with it 39 fatalities. Enumerated among those are the following more recent incidents:

• October 10, 2000 – A Challenger 600 was undergoing a test flight at Wichita Airport when it made impact with terrain during its initial climb and resulted in a fire and 3 fatalities.
• November 28, 2004 – A Challenger 600 rashed during an attempted take off at Montrose Airport in Colorado resulting in 3 fatalities with 3 survivors.
• February 5, 2005 – A Challenger 600 experienced a failed takeoff attempt at Teterboro Airport in New Jersey with no fatalities and 14 survivors.
• January 5, 2014 – Pilot error caused a crash while landing low-level windshear that resulted in one fatality with 2 survivors.
• January 7, 2017 – A Challenger 600 experienced over 9,000 ft of altitude loss after passing through the wake turbulence of an Airbus A380 over the skies of Oman. Remarkably, there were no fatalities after an emergency landing, but the aircraft was a total loss.
• March 11, 2018 – A Challenger 600 crashed in the Zagros Mountains of Iran after experiencing partial instrument failure and loss of control. All 11 people on board perished in the incident.
• March 5, 2019 – A Challenger 600 crashed in Coahuila, Mexico after a trip to Las Vegas. All 13 persons on board were fatalities.

Bombardier CL-600 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 CL-600 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 CL-600 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 CL-600’s in amounts between $1,000,000 and $10,000,000 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 CL-600 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 CL-600 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 CL-600 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 CL-600 and requests a quote including hull coverage in the amount of say $1,250,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $1,250,000.
*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 $1,250,000, you would get a straight check for $1,250,000.

Bombardier CL-600 Insurance Cost Breakdown:

As of January 2021, there are 8 carriers quoting Bombardier CL-600 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: $1,250-$1,600 per year.

For an annual policy with $1,000,000 in liability coverage and $1,250,000 in hull coverage
 Premium range for qualified pilots: $7,800-$11,600 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 CL-600 owners and operators obtain the very best insurance coverage.

BWI offers comprehensive Bombardier CL-600 insurance policies for personal, business, charter, industrial aid, and commercial aviation uses.

For more information or to get an actual Bombardier CL-600 insurance quote, please fill out a quote request online here or call us at 800.666.4359