Beechcraft Baron / G58 Insurance Cost Examples
Beechcraft Baron G58 - new PRIV working on ME and INST
|Aircraft Liability||$2,000,000 per occurrence||$1,500|
Beechcraft Baron G58 - PRIV ME working on INST
|Aircraft Liability||$1,000,000 sub $200,000 per passenger||$1,500|
Beechcraft Baron G58 - Owner Pilot with PRIV INST ME
|Aircraft Liability||$2,000,000 per occurrence||$2,000|
The Beechcraft Baron was the upgrade in production from the Travel Air. A new generation Baron, the G58 has special-edition 300-horsepower Teledyne Continental Motors and a state-of-the-art Garmin G1000 “all-glass” integrated avionics suite. This six passenger aircraft boasts of a 232 mile per hour top speed and a maximum range of nearly 1600 statute miles.
Models We Cover
The lowest price cheapest Beechcraft G58 Baron may be around $$200,000. This would be the older versions made around 1970. A new base model G58 Baron from the Textron factory is $1,740,000. With a few additional option upgrades it’s $1,800,000. The Baron already comes fully loaded in the base model with air conditioning and synthetic vision avionics so there’s little difference in price. As of February 2023, the lead time for new deliveries is over a year.
Some of the more difficult or more expensive Baron G58s to insure are pilots over 75 years old, new Student Pilots buying a new G58 with a high hull value, and also operations with too many dry leases, named pilots, or fractional owners. Most insurance companies will require a Private and Multi-Engine license prior to being insurable on a brand new $1,800,000 Baron G58.
The Baron G58 is primarily flown by owner pilots. For insurance we call this Part 91 Pleasure & Business.
The Baron G58 is a high performance piston aircraft so it is easy for an unproficient or inexperienced pilot to get in trouble. Claims are typically from runway incursions, hard landings, hangar rash, and weather damage. Claims are relatively low and predictable to underwrite.
The new Baron G58 is a multi engine which increases safety right off the bat, but it’s also equipped with the Garmin G1000 NXi avionics. The NXi comes with Synthetic Vision Technology (SVT) which increases situational awareness and spatial orientation especially when flying IFR or shooting instrument approaches. The main focus should just be on maintaining your proficiency to properly manage the avionics to your benefit. Insurance companies are familiar with underwriting the Baron G58 and Beechcraft/Textron as a manufacturer.
Insurance rates start around 1% of the hull value for qualified pilots and a smooth operation.
Aircraft Insurance Cost Guide
Learn more about the cost of insurance for private pilots based on your aircraft type and the various factors that affect premium rates. Whether you’re seeking owner aircraft insurance or commercial aircraft insurance, this valuable information will help to make an informed decision about the best coverage for you. If you have any additional questions, please don’t hesitate to reach out!