Cessna 414 Chancellor Insurance Cost Examples
Cessna 414 - Owner Pilot Experienced
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $800,000 | $9,500 |
| Aircraft Liability | $2,000,000 per occurrence | $4,500 |
| Total Premium | $14,000 |
Cessna 414 - Owner Pilot Low Multi Engine Time
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $800,000 | $13,000 |
| Aircraft Liability | $1,000,000 per occurrence | $4,000 |
| Total Premium | $17,000 |
Cessna 414 - Owner Pilot Transitioning from Cessna 206
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $800,000 | $18,000 |
| Aircraft Liability | $1,000,000 per occurrence | $4,000 |
| Total Premium | $22,000 |
Aircraft Summary
The 414 is an impressive aircraft, with a metal body and seating for six to eight passengers. Its low-wing design is pressurized and features retractable tricycle landing gear. It’s certified to operate in the Normal category, but spins and aerobatic maneuvers are strictly prohibited. When outfitted according to Federal Aviation Regulations 91 or 135, it can be used for day or night VFR/IFR operations.
Since 1969, the Cessna 414A has been a reliable and affordable twin-engine utility aircraft. Its design is a combination of the CESSNA 402’s wings and the CESSNA 421’s fuselage, making it lighter and less powerful than its predecessor, the CESSNA 421 Golden Eagle. In 1978, an improved version called the Chancellor was released with a bonded wet wing and no tip tanks. The Cessna 414A remained in production until 1985.
Models We Cover
Valuation
As of 2023 the price range for a Cessna 414 Chancellor is between $360,000 and $1,100,000. Much of the market value or price for a Cessna 414 Chancellor depends on the condition which includes the engine Time Between Overhauls (TBO), interior, paint, avionics, maintenance logs, and a clean accident or incident history.
The Cessna 414 was manufactured between 1969 – 1979 and there were 329 built. Of that, there are still 273 in operation worldwide. The Cessna 414A was built between 1977 – 1985 and there were 439 built. There are 414 of them still in operation
Risk Areas
The hardest Chancellors to insure or ones with the highest rates are with pilots over 75 years old or pilots that are transitioning from smaller aircraft with very little multi engine experience.
Claim History
The Cessna 414 Chancellor has a good claims history. The aircraft are flown primarily for Part 91 Pleasure & Business by owner pilots. The typical claims are hangar rash, hard landings, runway incursions, and pilot error related claims.
Safety Features
The Cessna 414 Chancellor is a reliable aircraft that has been proven time and time again. The biggest safety feature is the twin engines and the fact that it has been in operation for so long there’s a lot of pilots and mechanics that are very familiar with the aircraft.
Insurance rates start around 1% of the hull value and move up with less experienced pilots or riskier operations.
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
Citation Aircraft has training centers 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
Citation Aircraft has Authorized Service Centers throughout the US and throughout the world.