Cessna Citation CJ3 Insurance Cost Examples
Cessna Citation CJ3 - Dual Pro Pilot Experienced
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $5,700,000 | $21,000 |
| Aircraft Liability | $20,000,000 per occurrence | $6,000 |
| Total Premium | $27,000 |
Cessna Citation CJ3 - Single Pro Pilot Experienced
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $5,700,000 | $45,000 |
| Aircraft Liability | $5,000,000 per occurrence | $9,000 |
| Total Premium | $54,000 |
Aircraft Summary
The Citation CJ3 is the largest of the CJ family, offering a superior interior, more potent engines, longer wings and an advanced flight deck. With FAA type certification in October 2004, this aircraft is allowed to operate with one pilot under U.S. registry. The cabin was extended two feet and the wingspan widened by three feet, allowing it to surpass the CJ2 in cruise speed while consuming less fuel. Reports from owners reveal that the CJ3 meets or exceeds Cessna’s fuel burn data of 150 gallons per hour due to its two Williams/Rolls-Royce FJ44-3A turbofan engines with 2,780 lbs. of thrust on takeoff (480 lbs. more than the CJ2). Moreover, natural laminar flow wings are employed which delay flow separation longer to optimize lift-to-drag performance and further increase fuel efficiency.
The CJ3+ is a low-wing aircraft with retractable tricycle landing gear and a T tail. It contains a pressurized cabin that can hold up to eight passengers, but six is the standard. This aircraft has two Williams International Co., LL (Williams) FJ44-3A Full Authority Digital Engine Controls (FADEC) controlled turbofan engines which are mounted on the back of the fuselage. Additionally, this plane also includes an LED lighting suite that uses less power and is lighter than before, with a lifespan of 8,000 hours.
Models We Cover
Valuation
A Citation CJ3 cost between $4,365,000 – $ 7,110,000. A CJ3+ cost between $8,015,000 – $ 11,405,000. Price typically depends on the year manufactured and a clean accident history. Along with the typical economic cycles of supply and demand.
The Citation CJ3 was built from 2007 – 2014. The Citation CJ3 was upgraded to the CJ3+ in 2014 and is still in production. The lead time for a new CJ3+ is two years. So if you order one in February 2023, you won’t take delivery until first quarter 2025.
There’s been a total of 416 Citation CJ3 aircraft that have been produced by Textron and 236 Citation CJ3+. Of that 409 CJ3s are still in operation. As of February 2023, there are 236 CJ3+ aircraft in operation.
Risk Areas
Risk areas are high hull value CJ3s flown single pilot. Typically any hull value over $6,000,000 single pilot is a quota share of insurance. Quota share means that more than one insurance company is involved to secure 100% of the risk. The most common is a 50/50% quota share by two insurance companies. For example, AIG leads 50% and W Brown follows 50%.
It can also be expensive for the first few years for transitioning pilots upgrading to a CJ3 from smaller aircraft like a Cessna Conquest or even a low time Baron G58 pilot. Insurance companies will typically require simulator training and up to 25 hours dual with a mentor pilot.
Safety Features
One of the safety features that insurance companies require is annual training in the Citation CJ3. Some companies will require full motion simulators and others allow in aircraft training.
The Citation CJ3 has twin Williams/Rolls-Royce FJ44-3A turbofan engines with FADEC engine controls which are extremely reliable.
Citation CJ3 insurance rates for dual pilots start at around 0.4% of the hull value and 0.8% for single pilots.
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.