Piper PA-27 Aztec Overview:
The Piper PA-27 had a storied history to arrive at its production. Originally conceived by the Stinson Aircraft Company, a design for a “Twin Stinson” had come to Piper after the acquisition of Stinson in 1948. The design languished for a few years as Piper reorganized itself, but in 1952 would be introduced as the PA-23 Piper Apache.
Over a thousand Apaches were built – by any measure a successful design. But both Beechcraft and Cessna were working on new piston twins powered by much more capable six-cylinder engines than the Apache’s four-cylinder Lycomings. In the late 1950s, Piper began test-flying a modified Apache with Lycoming O-540 engines producing 250 horsepower each, double what the original Apaches had produced. A swept vertical tail modernized the look and a full flying horizontal tail known as a stabilator was borrowed from the Comanche for more control authority. To thoroughly differentiate the new version, it was named the PA-27 Aztec.
The first Aztecs began rolling out of the factory in 1959 as a five-seat twin-engine touring airplane. In 1961 a longer nose with a baggage compartment would replace the blunt nose from the original Apache and a sixth seat would be added. The new model was known as the Aztec B and was produced until 1964 when the Lycoming engines were replaced with newer fuel injected (and optional turbocharged) versions and newer engine nacelles and landing gear for a slight bump in speed and the resultant Aztec C. Further improvements would continue for the remainder of production until 1981, focusing mostly on the interior and improving the robustness of the systems. The aircraft was noted for its prodigious load-carrying ability – useful loads were around 2,000 pounds (nearly 1 tonne) depending on airframe, and frequently even with all seats occupied, baggage at limits, and fuel tanks full the aircraft was below its maximum weight limit.
The Aztec also brought two particularly notable contributions to general aviation. One was the use of removable skin panels to allow easy access to things like the battery, brake, and hydraulic equipment, and control cable hardware significantly reducing the labor and thus cost associated with ongoing maintenance. Secondly, the Aztec B and on featured a modular panel design where individual instruments and radios could easily be removed and swapped for others, a precursor to modern standardized instrument sizes and radio racks. The Aztec served as one of the first true luxury twins, and the list price for an Aztec C started at nearly $55,000 in 1964 ($459,000 in 2020 dollars), with options adding up to an additional $25,000 on top of that price.
Despite the high sales price of the Aztec, the aircraft was in high demand, particularly for its load-carrying capacity. Over 5,000 were produced in a 21-year construction span, and they remain in demand today as heavy lifters for private owners and as trainer aircraft for flight schools that appreciate the docile handling characteristics and simple maintenance requirements.
Piper PA-27 Aztec 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.
Piper PA-27 Aztec 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.
Piper PA-27 Aztec 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 Piper PA-27 Aztec’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 Piper PA-27 Aztec 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 Piper PA-27 Aztec 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 Piper PA-27 Aztec 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 PA-27 Aztec and requests a quote including hull coverage in the amount of say $45,000. Once an aviation insurance company provides a quote, they are agreeing with you that your aircraft is worth $45,000.
*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 $45,000, you would get a straight check for $45,000.
Piper PA-27 Aztec Insurance Cost Breakdown:
As of January 2021, there are 5 carriers quoting Piper PA-27 Aztec insurance in the U.S. We consider qualified pilots to have at least a Private License with 500 total hours, 100 Multi-engine 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: $650-$800 per year.
Premium range for less than qualified pilots (low-time/etc): $875-$1,050 per year.
For an annual policy with $1,000,000 in liability coverage and $45,000 in hull coverage
Premium range for qualified pilots: $2,650-$4,100 per year.
Premium range for less than qualified pilots (low-time/etc): $4,840-$8,100 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 Piper PA-27 Aztec owners and operators obtain the very best insurance coverage.
BWI offers comprehensive Piper PA-27 Aztec insurance policies for personal, business, charter, industrial aid, and commercial aviation uses.
For more information or to get an actual Piper PA-27 Aztec 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.