Beechcraft Premier I Insurance Cost Examples
Pro Pilot and Experienced
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $1,300,000 Agreed Value | $15,000 |
| Aircraft Liability | $10,000,000 Per Occurrence | $5,000 |
| Total Annual Premium | $18,000 |
Pro Pilot and Experienced less than 1,500TT
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $1,300,000 Agreed Value | $16,000 |
| Aircraft Liability | $5,000,000 Per Occurrence | $5,000 |
| Total Annual Premium | $21,000 |
Owner Pilot and Experienced
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $1,300,000 Agreed Value | $15,000 |
| Aircraft Liability | $5,000,000 Per Occurrence | $5,000 |
| Total Annual Premium | $20,000 |
Aircraft Summary
Raytheon’s Premier I: A Revolutionary Business Jet. The revolutionary business jet designed and built by Raytheon Aircraft, the Premier I, is a first-of-its-kind light business jet. Equipped with a composite fuselage and a swept aluminum wing design, the aircraft was first conceived in 1994 and had its first flight three years later. After earning FAA certification in 1999, the jet was capable of being flown with a single pilot or two pilots, and featured Williams FJ44-2A turbofan engines providing 2300 lbs. of thrust each. RVSM capability was first seen on serial number 70 delivered aircraft, and is available through a field service kit.
The world-renowned Premier 1A is certified as the biggest single-pilot business jet. Famed for its remarkable avionics and brakes, this aircraft has been completely redesigned for even better performance. With a maximum takeoff capacity of 12,500 pounds, the Premier 1A can take off from a runway in just 3,792 feet and soar to heights of 37,000 feet in only seventeen minutes. Its cruising speeds can reach up to .80 Mach and fly 1,380 nautical miles, in addition to a certified ceiling of 41,000 feet. The Premier 1A is equipped with two Williams/Rolls-Royce FJ44-2A engines, capable of producing 2,300 pounds of thrust each during takeoff. These engines are regulated by an electronic control unit and a hydro-mechanical fuel control system on the engine itself. Lastly, the Premier 1A requires major inspection every 3,500 flight hours.
Models We Cover
Valuation
The Beechcraft Premier 1 ranges in price from $1,700,000 to $1,900,000 while the Premier 1A ranges from $2,300,000 to $2,900,000.
The Beechcraft Premier 1 aircraft was produced between 2001 and 2005 and was upgraded to the Premier 1A in 2006. Production was discontinued in 2012. 169 Beechcraft Premier 1/1A have been produced and 156 are still in service today.
Risk Areas
Risk areas involve insuring Beechcraft Premier 1/1A flown by less experienced pilots that are transitioning from smaller single engines.
It’s also harder to insure Premier 1 flown by single pilots with no single pilot twin turbine time. Insurance companies expect qualified pilots to have a Commercial license and IFR/MEL ratings with over 1000-hour flight time.
Underwriters expect pilots to have completed inflight training or full-motion simulator-based training within the preceding 12 months. They prefer full-motion simulator-based training from Simcom, CAESimuFlite, or FlightSafety.
Claim History
Beechcraft aircraft have a good claim history which also applies to the Beechcraft Premier 1/1A. Most of the accidents were caused by pilot errors. The Beechcraft Premier 1/1A also has a low fatality record.
Safety Features
The Beechcraft Premier 1/1A Williams/Rolls-Royce FJ44-2A engine is safe and reliable. The Premier 1A model was improved from the original Premier 1 with electronic charts and XM satellite radio weather graphics to promote safety.
The Beechcraft Premier 1/1A also features Enhanced Ground Proximity Warning System (TAWS) with Wind Shear Warning Capability and Traffic Alert and Collision Avoidance System (TCAS II).
There’s a 3–screen Electronic Flight Instrument System (EFIS), Dual Attitude Heading Reference Systems (AHRS), and Flight Management System (FMS). All these features increase safety and situational awareness during flight.
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!
Flight Training Centers
Beechcraft and Textron Flight Training Centers are located throughout the US and throughout the world.
See our complete list of approved flight schools and Part 141 flight schools for more information.
Parts Service Centers
Beechcraft has the same authorized service centers as Cessna because they are both owned by Textron Aviation. Beechcraft Authorized Service Centers are located throughout the US and throughout the world.