Cessna 172 Insurance Cost Examples
Cessna 172 Skyhawk - Owner Pilot Experienced
| Coverage | Limits | Premium |
| Physical Damage | $300,000 | $2,500 |
| Aircraft Liability | $1,000,000 per occurrence | $1,000 |
| Total Premium | $3,500 |
Cessna 172 Skyhawk - Owner Student Pilot working on Private
| Coverage | Limits | Premium |
| Physical Damage | $300,000 | $7,000 |
| Aircraft Liability | $1,000,000 sub $100,000 per passenger | $1,000 |
| Total Premium | $8,000 |
Cessna 172 Skyhawk - Flight Training School - Instruction and Rental
| Coverage | Limits | Premium |
| Physical Damage | $250,000 | $12,000 |
| Aircraft Liability | $1,000,000 sub $100,000 per passenger | $2,000 |
| Total Premium | $13,000 |
Aircraft Summary
The Cessna 172 is one of the most iconic trainer aircraft built in modern flight training. Most flight schools at one point or another have owned or operated a Cessna 172 for instruction and rental purposes. It’s nicknamed the Skyhawk and they are flown throughout the world. Flight schools use the 172 to rent to Student Pilots working on their Private Pilot, and Private Pilots working on their Instrument rating. It’s a four seater, high wing aircraft powered by a Continental with horsepower between 145 hp and 200 hp. A brand new Cessna 172 Skyhawk costs around $525,000. With current supply chain shortages, they are taking approximately 6 months to deliver. The avionics are a Garmin G1000 NXi.
Models We Cover
Valuation
The older Cessna 172s from before 1975 can be valued as low as $60,000 in some cases. A brand new 2023 Cessna 172 Skyhawk from the factory and with option upgrades such as synthetic vision and air conditioning are going for $600,000. As of February 2023 the lead time for a new Cessna 172 Skyhawk order is two years.
Risk Areas
Some of the more difficult Cessna 172 operations to insure are pilots over 70 years old. The typical cut off age range is from 75 – 80. This range depends on the pilots proficiency and consistency flying leading up to 70 years old.
It can also be complicated for underwriters to process Cessna 172 policies with more than 3 – 4 Student Pilots named pilots on the policy. But for the most part the Cessna 172 is an easy aircraft to get insurance on.
Claim History
A lot of Student and Private Pilots use the Cessna 172 for training purposes so these aircraft get a lot of flight hours annually and experience all sorts of hard landings yet they remain reliable and have a relatively low claim history.
Safety Features
The Cessna 172 Skyhawk is considered a safe plane when compared to the industry standard. I think a few of the reasons it is considered a safe airplane is because it is high wing which allows great visibility. There’s a lot of Cessna 172 in operation and therefore there’s a lot of data on accidents and claims history. Insurance rates for a Cessna 172 are relatively low starting at 1% of the hull value so insurance companies have determined it’s a safe and profitable aircraft to underwriter. The newer Cessna 172s have a Garmin 1000 with a synthetic avionics option which helps pilots with situational awareness and spatial orientation, especially when flying IFR or in the clouds.
Cessna started making the 172 in 1955 but discontinued it in 1986 because the liability insurance became too expensive. This was from people being able to sue the manufacturer, Cessna, for product defects without any time restriction. The General Aviation Revitalization Act was passed by the Federal Aviation Act in 1994 limiting a manufacturer’s exposure for products liability. Since 1996 the Cessna has been in continuous production as of present date, 2023.
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!
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