Avanti EVO Insurance Cost Examples
Piaggio P180 - Pro Pilot and Experienced
|P180 Physical Damage||$1,600,000 Agreed Value||$13,500|
|Aircraft Liability||$5,000,000 Per Occurrence||$7,000|
|Total Annual Premium||$20,500|
Avanti - Pro Pilot and Experienced
|Avanti Physical Damage||$3,500,000 Agreed Value||$14,000|
|Aircraft Liability||$25,000,000 Per Occurrence||$12,500|
|Total Annual Premium||$26,500|
Avanti - Owner Pilot and Experienced
|Avanti Physical Damage||$1,800,000 Agreed Value||$19,800|
|Aircraft Liability||$1,000,000 Per Occurrence||$3,750|
|Total Annual Premium||$23,550|
Avanti aircraft are made by the Italians and it uses an airfoil design called a canard, which is a smaller wing in the front of the fuselage to create downward lift of the nose. It is a strange looking design but actually great for aerodynamics and fuel efficiency.
The EVO is the latest design by Avanti which incorporates great style. The Avanti aircraft are fast for even a turbo prop. The new aircraft has a true airspeed of over 400 KTAS. That’s much faster than the light twin turbine jets like the Citations and Phenoms.
Most aircraft are operated by a Professional Pilot for Part 91 operations. The pilot is required to complete annual training in the aircraft by a school approved by the insurance companies. Full motion simulator training is highly recommended.
Liability premium is based on the number of seats and use of the aircraft. Typically around 30% of the premium is from the liability and 70% of the premium is from the hull value. For a new aircraft with a higher hull value it would be possible to see the hull premium to be 90% of the overall premium.
An easy way to estimate or visualize the premium for an Avanti Aircraft is: 1% and 2%
- 1% of the hull value for experienced pilots and single ownership with no dry leases or mid term policy changes
- 2% of the hull value for less experienced pilots, high number of named pilots like over 3 pilots, constantly requesting extensions for training, dry leases, fractional ownership, etc.
Models We Cover
Avanti aircrafts hold their value similar to other turboprops and twin turbine aircraft like a Citation, Phenom and King Air. The value of the aircraft is based on the age, total airframe time, and Time Between Overhaul (TBO) on the engines.
One of the major concerns with the Avanti aircraft with regards to insurance is if there is a claim, parts can be hard to come by and take longer than expected to receive. As a result the cost for the aircraft to sit in maintenance can make for more expensive repairs. For this reason a few of the already small aviation insurance company marketplace have exited providing quotes for the Avanti aircraft. Check with your local Avanti maintenance shop and ask them about how difficult it currently is to find parts after a claim has been filed.
The typical claim for Avanti, along with all corporate jets, is Foreign Engine Debris (FOD), hangar rash, hail, etc. We have also seen the windshields crack in flight due to a gas leak between the outside pane and inside pane. This is often considered normal wear and tear and not an insurance claim. If you end up having to pay out of pocket for one side of a new Avanti windshield, you can expect to pay upwards of $50,000.
With the turboprop propellers being in the back of the airframe the aircraft has great directional control and stability, especially on takeoff, which feels like a rocket ship. The aircraft is powered by two Pratt & Whitney PT6 engines, which is one of the most reliable engines ever built. The PT6 was built in 1960 and has more time as a turboprop engine than any other engine.
Flight Training Centers
See our complete list of approved flight schools for more information.