Falcon 7X Insurance Cost

Falcon 7X Overview:

By June 2001, Dassault had established themselves as an extremely successful manufacturer of business aircraft with their flagship Falcon line having several thousand deliveries across numerous models. At that year’s Paris Air Show, Dassault announced the development of a new large-cabin design to fill the gap above the Falcon 900 and 2000 and compete against the newest models from Gulfstream.

Unlike earlier models that were outgrowths of previous Dassault aircraft, the new design was to be a virtually clean sheet approach. The only remnant of former aircraft would be in the fuselage cross-section, common to the Falcon 900 and 2000, but extended by nearly one-third for additional cabin space. The fuselage structure was strengthened allowing the use of a stronger pressurization system which lowered the interior cabin altitude for additional passenger comfort on long flights. An all-new wing design featured a new airfoil and winglets and provided for an increase in maximum speed to over 500 knots while the flight control system utilized Dassault’s first “fly by wire” flight controls. The new threesome of Pratt & Whitney engines and additional fuel capacity delivered a maximum range of nearly 6,000 nautical miles (10,500 km). Finally, the cockpit used Dassault’s Enhanced Avionics System (EASy) and “heads up” displays for both pilots. The new model was named the 7X by the time of its first flight in 2005.

Dassault paired with BMW DesignWorks for interior furnishings and the additional cabin space gave a large number of configurations for customers to choose from or the aircraft could be delivered “green” for the customer to complete at the shop of their choice. Options included a private bedroom and lavatory in the rear of the cabin, as well as a private shower. With the 7X offering much-extended range over the earlier models, a full forward galley capable of preparing hot and cold meals was standard and a private crew rest compartment available as an option. Typical setups featured three bulkhead-separated compartments for passengers to utilize as they desired. Extensive use of cabin insulation and new vibration-isolating engine mounts allowed cabin noise to be reduced below 50 decibels, far below any competing aircraft.

The 7X entered service in mid-2007 and by 2010 more than a hundred had been delivered. In 2014 the Model 8X was announced as a follow-on type, featuring a one meter (3 feet) fuselage extension, updates to the wing structure, additional fuel capacity, and more powerful and efficient engines. Maximum range increased to nearly 6,500 nautical miles (12,000 km). Both the 7X and 8X remain in production and hundreds are in service with private and commercial operators worldwide.

Falcon 7X 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.

Falcon 7X 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.

Falcon 7X 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 Falcon 7X’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 Falcon 7X 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 Falcon 7X 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 Falcon 7X 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 Falcon 7X and requests a quote including hull coverage in the amount of say $50,000,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $50,000,000.
*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 $50,000,000, you would get a straight check for $50,000,000.

Falcon 7X Insurance Cost Breakdown:

As of January 2021, there are 8 carriers quoting Falcon 7X 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: $1,450-$1,800 per year.

For an annual policy with $1,000,000 in liability coverage and $50,000,000 in hull coverage
 Premium range for qualified pilots: $40,800-$62,600 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 Falcon 7X owners and operators obtain the very best insurance coverage.

BWI offers comprehensive Falcon 7X insurance policies for personal, business, charter, industrial aid, and commercial aviation uses.

For more information or to get an actual Falcon 7X insurance quote, please fill out a quote request online here or call us at 800.666.4359