Overview:
The Piper J-3 Cub is a high-wing, strut-braced single-engine, tailwheel aircraft produced by Piper Aircraft. The Piper Cub was introduced in 1938 and produced until 1947. Over 20,000 Piper Cub’s have been built, making it one of the most produced aircraft in the world.
The J-3 Cub was originally designed to be a training aircraft and due to its amazing flight characteristics has become one of the most popular general aviation aircraft. The Piper Cub is well know as being an amazing bush plane and was also used for military observation during World War II.
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 industry as a whole.
Piper Cub insurance, like all airplane 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.
Piper Cub aviation liability insurance covers damage caused by the aircraft, outside of the aircraft, specifically property damage, bodily injury, and provides money for legal defense in the event that the aircraft owner is sued. Aircraft liability insurance is typically offered for Piper Cub aircraft at $1,000,000 per occurrence (per incident) and includes coverage for passengers but limits that amount to $100,000 per passenger, which is included within the total liability of $1,000,000.
A real-world example of how this aviation liability coverage would protect you: If while flying your Piper Cub and damaged property or caused bodily injury outside of the aircraft, you would have the full $1,000,000 in coverage to pay for damages that occurred. If the airplane crashed and you had passengers inside the aircraft that were injured, your insurance policy would pay up to $100,000 for each passenger. The Piper Cub typically holds 1 passenger, so you up to $100,000 of your total $1,000,000 insurance policy could be used to pay for passenger liabilities, leaving you with $900,000 for other damage outside of the aircraft or legal defense.
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: Some companies may offer lower liability at $500,000 but the cost savings typically doesn’t make this a viable choice. Higher liability coverage on the Piper Cub is typically not available due to the type and build of the aircraft.
The second coverage on a Piper Cub aircraft 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 Piper Cub and requests a quote including hull coverage in the amount of say $60,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $60,000.
*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 $60,000, you would get a straight check for $60,000.
Piper Cub Insurance Cost Breakdown:
As of February 2020, there are 10 carriers quoting Piper Cub insurance in the U.S. We consider qualified pilots to have at least a private license, with 300 total hours, 25 tailwheel and 10 hours in the make/model.
For an annual policy with $1,000,000 in liability only coverage.
Premium range for qualified pilots: $245-$295 per year.
Premium range for less than qualified pilots (low-time/etc): $325-$530 per year.
For an annual policy with $1,000,000 in liability coverage and $25,000 in hull coverage
Premium range for qualified pilots: $1,300-$1,580 per year.
Premium range for less than qualified pilots (low-time/etc): $1,450-$1,800 per year.
For more information or to get an actual Piper Cub aircraft insurance quote, please fill out a quote request online here or call us at 800.666.4359
-The BWI Team
