Cirrus Insurance Cost Examples
Cirrus SR22T - Private Pilot and Instrument Rating
|Cirrus SR22T Physical Damage||$900,000 Agreed Value||$6,500|
|Aircraft Liability||$1,000,000 Per Occurrence||$1,900|
|Total Annual Premium||$7,400|
Cirrus SR22T - Private Pilot working on Instrument rating
|Cirrus SR22T Physical Damage||$900,000 Agreed Value||$13,600|
|Aircraft Liability||$1,000,000 Occ./ $250,000 Passenger||$1,900|
|Total Annual Premium||$15,500|
Cirrus SR22T - Student Pilot working on Private Pilot
|Cirrus SR22T Physical Damage||$900,000 Agreed Value||$19,300|
|Aircraft Liability||$1,000,000 Occ./ $250,000 Passenger||$2,700|
|Total Annual Premium||$22,000|
Cirrus aircraft are typically flown by owner pilots for pleasure & business purposes. The Cirrus Aircraft has between 4 to 5 seats in the SRs and 7 in the SF50 Vision Jet. In 2014 they changed the seating to 1+4. This changes the insurance premiums slightly because the liability premium is based on the number of seats and typically accounts for 15% – 30% of the overall premium. The remaining 70% – 85% is from the hull value premium.
An easy way to estimate or visualize the premium for a Cirrus Aircraft is: 1%, 2%, and 3%:
- -1% of the hull value for pilots with a Private and Instrument rating
- 1.5% – 2% of the hull value for pilots with a Private, working on an Instrument rating
- 2% – 3% of the hull value for new Student Pilots working on a Private Pilot’s License
Models We Cover
Hold their value relatively well. This depends largely on the supply and demand of the market. The Cirrus maintenance does require the parachute to be repacked every 10 years so that may affect the valuation.
The hardest operations to insure for Cirrus owners and operators is pilots with less than 1,000 hours total time transitioning into the Cirrus Vision Jet. Another difficult to insure operation is a Student Pilot in a high hull value SR22 that takes too long to get their Private Pilot license. Underwriters will look at this Student Pilot as not taking it seriously.
Overall, the Cirrus aircraft has had a great claims history as a manufacturer and because there are so many of them, insurance companies have a lot of data on the claims history.
The Cirrus has a built in parachute which has saved countless lives. The SR20 and SR22 use a Lycomming engine and the Cirrus Vision Jet uses a Williams FJ33. Both of these engines have great reliability.
Flight Training Centers
See our complete list of approved flight schools for more information.