The late 1980s and early 1990s had seen a huge slump for general aviation. The passing of the General Aviation Revitalization Act in 1994 finally brought relief for manufacturers and both the old breed as well as new manufacturers began the slow process of beginning production.
Minnesota-based Cirrus Design Corporation, most known for their VK-30 composite kit built aircraft, began work on their first certified design. Unlike the metal and rivet structure of most general aviation aircraft, Cirrus’s extensive experience with strong and lightweight composite materials in the VK-30 served as the base for their all-new type. Replacing the relatively unusual pusher-engine design of the VK-30, Cirrus drew up plans for an all-composite four-seat aircraft incorporating the latest in composite and aerodynamic technologies.
The high strength of composites allowed the cabin of the new SR-20 to be larger and much more comfortable than boxy all metal designs. To free up space in front of the pilot and front seat passenger, a standard control yoke was replaced with an intuitive side stick design mounted on the cockpit sidewall. Seats more reminiscent of a performance car provided a comfortable ride for all four occupants and the introduction of a large electronic multi-function display (MFD) simplified the panel and served as the first general aviation “glass cockpit”. The smooth all composite wing and 200 horsepower six cylinder Continental engine led to a cruise speed of around 155 knots. Most notably, the inclusion of the full-airframe Cirrus Airframe Parachute System (CAPS) allowed a new measure of safety unseen in general aviation. Certification was achieved in late 1998 and deliveries began in early 1999. Reception across the industry was warm, and the new technologies would spur other designers to explore composite materials and glass cockpits.
Further generations of the SR20 would follow. 2004 would bring the SR20 G2, with the primary cockpit instruments replaced with an all-glass Avidyne system expanded from the earlier MFD. Major changes as the G3 in 2007 would include the borrowing of the wing from the larger and heavier SR22 (itself heavily based on the SR20), numerous improvements to passenger comforts, general aerodynamic improvements, and a bump in takeoff weight for more payload. The latest model, the SR20 G6, features a Garmin glass cockpit replacing the earlier Avidyne, further increases in maximum payload, and replacement of the Continental engine with a 215 horsepower Lycoming.
More than 1500 SR20s have been produced, and the type remains popular with private owners and flight schools. It even serves as a limited military trainer, with 25 airframes providing initial flight training for US Air Force Academy students under the designation T-53A.
Cirrus SR20 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.
Cirrus SR20 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.
Cirrus SR20 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 Cirrus SR20’s at $1,000,000 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 Cirrus SR20 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 Cirrus SR20 may be available to qualified pilots with experience in the make and model and a minimum Private License/IFR rating.
The second coverage on a Cirrus SR20 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 Cirrus SR20 and requests a quote including hull coverage in the amount of say $490,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $490,000.
*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 $490,000, you would get a straight check for $490,000.
Cirrus SR20 Insurance Cost Breakdown:
As of January 2021, there are 7 carriers quoting Cirrus SR20 insurance in the U.S. We consider qualified pilots to have at least a Private License with 500 total 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: $550-$650 per year.
Premium range for less than qualified pilots (low-time/etc): $675-950 per year.
For an annual policy with $1,000,000 in liability coverage and $490,000 in hull coverage
Premium range for qualified pilots: $4,100-$5,800 per year.
Premium range for less than qualified pilots (low-time/etc): $5,900-$7,850 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 Cirrus SR20 owners and operators obtain the very best insurance coverage.
BWI offers comprehensive Cirrus SR20 insurance policies for personal, business, charter, industrial aid, and commercial aviation uses.
For more information or to get an actual Cirrus SR20 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.