Pilatus PC-24 Insurance Cost

Pilatus PC-24 Overview:

The Pilatus PC-12 is a worldwide workhorse of an airplane. With over 1500 produced, the PC-12 offered operators turboprop speeds in a sizable cabin while having the performance to land on short, unprepared, and isolated runways around the world. Seeing the success of the -12, Pilatus began engaging operators to see what they’d like to see in a follow on model. The resounding response was for an aircraft that could maintain the rugged backwoods runway strengths while offering more range and speed.

By 2007, Pilatus had begun studies into different designs and began working on mockups. The downturn of general aviation as a result of the market depression in 2008 would shelve work for a few years, but by 2013 Pilatus had arrived at a definitive configuration and revealed the new PC-24 at the European Business Aviation Convention to a flurry of interest, selling all 84 original production slots by the completion of the show.

The new PC-24 would be a light jet with little in common from the original PC-12. A slightly swept wing with large double-slotted flaps would allow takeoff and landing performance worthy of the Pilatus name and when combined with strong trailing-link landing gear would maintain the ability to operate out of rough grass and dirt runways. The cabin could seat a maximum of eight passengers and similar to the PC-12 could be rapidly reconfigured to trade passenger seats for cargo space with the use of standard floor tracks. Another feature mirroring the PC-12 was a large aft cargo door capable of fitting a standard sized GMA cargo pallet through the gap between the left-wing and left engine. Well-proven Williams FJ44 engines were mounted high on the aft fuselage to prevent damage on unprepared runways and the Honeywell Primus avionics system, similar to that used in the PC-12NG, was chosen to allow single-pilot operation

Deliveries began in 2018 and the PC-24 was marketed heavily to operators of PC-12s as increasing their capabilities just as the design originally intended. Though slightly slower than its light jet competitors, the short and unpaved runway abilities of the PC-24 has ensured demand has remained consistent. The largest operators of the type are Planesense, a charter company located in the United States, and Australia’s Royal Flying Doctor Service, both extensive customers for the PC-12. Both utilize the PC-24 to significantly cut flying times on routes the PC-12 could operate, and the RFDS maintains the ability to fly in and out of many remote unpaved airstrips across the vast expanse of Australia.

Pilatus PC-24 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.

Pilatus PC-24 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.

Pilatus PC-24 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 Pilatus PC-24’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 Pilatus PC-24 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 Pilatus PC-24 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 Pilatus PC-24 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 Pilatus PC-24 and requests a quote including hull coverage in the amount of say $7,000,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $7,000,000.
*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 $7,000,000, you would get a straight check for $7,000,000.

Pilatus PC-24 Insurance Cost Breakdown:

As of January 2021, there are 8 carriers quoting Pilatus PC-24 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-$1,400 per year.

For an annual policy with $1,000,000 in liability coverage and $7,000,000 in hull coverage
 Premium range for qualified pilots: $49,800-$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 Pilatus PC-24 owners and operators obtain the very best insurance coverage.

BWI offers comprehensive Pilatus PC-24 insurance policies for personal, business, charter, industrial aid, and commercial aviation uses.

For more information or to get an actual Pilatus PC-24 insurance quote, please fill out a quote request online here or call us at 800.666.4359