Cessna 340 Overview:
The Cessna 335 and 340 are low-wing, light twin-engine aircraft produced by Cessna from 1972 until 1984. They are one of the most common light twins in general aviation. The success of the 340 led to Cessna offering the 335 unpressurized version, which was virtually identical by outward appearances but at a lower cost.
Like other light twins manufactured at the time, aircraft components for the 335/340 were sourced from other Cessna models. The tail unit and landing gear were based on the Cessna 310, and the wings, flaps, and ailerons were based on the Cessna 414. At the time the 340 came on the market, it joined the Beechcraft Duke in the six-seat pressurized piston twin market. It quickly passed the Duke, with 1,287 Cessna 340s built, compared to 596 Beechcraft Dukes.
The 340 aircraft was Cessna’s entrance into the pressurized ‘light twin’ market with the 340 being a smaller companion to the company’s heavier 414 and 421 aircraft. It was developed to be a cabin-class version of the popular Cessna 310 (the 340 is five feet longer than the 310), complete with an airstair door (steps built into the door), and four-passenger seats in a club configuration allowing a roomy cabin. Early models of the 340 had two turbocharged Continental TSIO-520-K engines (285 hp each). From 1976 going forward, the 340A variant had two Continental TSIO-520-NB engines (310 hp each). The typical cruising altitude of the 340 is between 18,000-21,000 feet, with a service ceiling of 29,800 feet. Although the aircraft seats up to six people, with a full load, its fuel load (and range) are greatly reduced.
The 335 aircraft was advertised as a low-priced, non-pressurized version of the 340. The non-pressurized model was much less popular than the pressurized version. Only 64 were built by the time production wound down. The 335 was manufactured with two Continental TSIO-520-EB engines (300 hp).
Cessna 300 and 400 series aircraft have had numerous incidents and accidents relating to the exhaust system. An FAA-issued Airworthiness Directive requires regular repetitive exhaust system inspections and removal of the exhaust system for inspection at engine overhaul.
- December 12, 2020, in Shelby County, Tennessee (N980AM)
- May 03, 2019, in Nye County, Nevada (N5418M)
- December 24, 2017, in Polk County, Florida (N247AT)
- March 18, 2016, in Hillsborough County, Florida (N6239X)
- October 25, 2010, in Lewis County, Washington (N68718)
- January 18, 2010, in San Bernardino County, CA (N2217B)
- March 23, 2006, in Brevard County, Florida (N37JB)
- August 8, 2003, in Inyo, County, California (N340DC)
- March 24, 2002, in Arapahoe County, Colorado (N341DM)
- January 17, 2002, in Bell County, Texas (N339S)
- October 26, 2000, in San Diego County, California (N4347C)
- January 17, 2000, in Cameron County, Texas (XB-BJU)
- March 16, 1999, in Norfolk County, Virginia ( N13DT)
- June 18, 1998, in Lewis and Clark County, Montana (N88JH)
- December 7, 1995, in Los Angeles County, California (N37324)
- March 3, 1994, in Suffolk County, New York (N512SK)
- October 29, 1984, in San Miguel County, New Mexico (N4001Q)
Cessna 340 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.
Cessna 340 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.
Cessna 340 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 Cessna 340’s in amounts between $1,000,000 and $3,000,000 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 Cessna 340 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 Cessna 340 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 Cessna 340 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 Cessna 340 and requests a quote including hull coverage in the amount of say $215,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $215,000.
*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 $215,000, you would get a straight check for $215,000.
Cessna 340 Insurance Cost Breakdown:
As of January 2021, there are 8 carriers quoting Cessna 340 insurance in the U.S. We consider qualified pilots to have at least a Private License and IFR/MEL ratings, with 1,500 total hours, 500 MEL hours and 25 hours in the make/model.
For an annual policy with $1,000,000 in liability only coverage.
Premium range for qualified pilots: $850-$1,400 per year.
Premium range for less than qualified pilots (low-time/etc): $1,100-$1,600 per year.
For an annual policy with $1,000,000 in liability coverage and $215,000 in hull coverage
Premium range for qualified pilots: $3,900-$5,000 per year.
Premium range for less than qualified pilots (low-time/etc): $6,700-$12,000 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 Cessna 340 owners and operators obtain the very best insurance coverage.
BWI offers comprehensive Cessna 340 insurance policies for personal, business, charter, industrial aid, and commercial aviation uses.
For more information or to get an actual Cessna 340 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.