Diamond DA42 Insurance Cost

Diamond DA42 Overview:

Diamond Aircraft Industries made a name for itself in the 1980s and 1990s with advanced new designs to help modernize the light aircraft industry. The composite construction, positive flying characteristics, and above-average performance had ensured both the DA20 two-seat trainer and DA40 four-seat touring aircraft had continued to sell well.

Around the turn of the century, Diamond announced they would pursue certification of a twin engine aircraft loosely based on the DA40. This decision made some waves in the general aviation market, where no clean sheet light piston twin had been introduced since the 1970s. In keeping with their earlier designs, Diamond made extensive use of composite materials throughout the new model, known as the DA42 Twin Star. While other manufacturers had used composites intermittently for certain components, Diamond made virtually the entire structure of the aircraft from carbon fiber, including almost the entire airframe structure and the main wing spar.

The use of composite materials helped to keep the weight of the aircraft down while providing extremely aerodynamically clean surfaces and the flexibility to make more dramatic shapes than aluminum would allow. The four-seat cabin is accessed by a tip up canopy and all four seats feature comfortable three-point automotive style seat belts. With the removal of the DA40’s single-engine in the nose, Diamond used this space to create large externally accessed baggage compartments.

Being an Austrian company, Diamond was acutely aware of the lack of availability and extremely high cost of 100LL aviation fuel, commonly known as Avgas, in Europe. It was decided to pursue certification of a diesel engine capable of running on JetA turbine fuel as well as a standard piston engine for areas where Avgas was still widely available. The two engines ultimately selected were the diesel Thielart TAE-125 Centurion, producing 135 horsepower, and the Avgas Lycoming IO-360, producing 180 horsepower. Following the collapse of Thielart in 2008, Diamond introduced the diesel Austro Engine AE300, produced by a division of Diamond themselves in cooperation with Mercedes Benz, rated at 170 horsepower. This newer model was known as the DA42 NG. In 2012, the DA42-VI model would incorporate improved aerodynamics to raise cruise speed.

With its strong structure, excellent single-engine performance, and low operational cost, the DA42 was adopted by a number of flight schools in both gas and diesel forms. Its long endurance made it a natural fit for airborne surveillance, aerial mapping/surveying, and low altitude photography. The DA42 MPP (Multi Purpose Platform) has been adopted by the governments and militaries of more than a dozen nations. More than 800 DA42s have been produced, and the type remains in production alongside its single-engine cousin.

Diamond DA42 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.

Diamond DA42 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.

Diamond DA42 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 Diamond DA42’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 Diamond DA42 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 Diamond DA42 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 Diamond DA42 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 Diamond DA42 and requests a quote including hull coverage in the amount of say $680,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $680,000.
*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 $680,000, you would get a straight check for $680,000.

Diamond DA42 Insurance Cost Breakdown:

As of January 2021, there are 8 carriers quoting Diamond DA42 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: $1,400-$1,800 per year.
 Premium range for less than qualified pilots (low-time/etc): $2,000-$2,900 per year.

For an annual policy with $1,000,000 in liability coverage and $680,000 in hull coverage
 Premium range for qualified pilots: $6,700-$9,000 per year.
 Premium range for less than qualified pilots (low-time/etc): $10,500-$19,000 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 Diamond DA42 owners and operators obtain the very best insurance coverage.

BWI offers comprehensive Diamond DA42 insurance policies for personal, business, charter, industrial aid, and commercial aviation uses.

For more information or to get an actual Diamond DA42 insurance quote, please fill out a quote request online here or call us at 800.666.4359