Home » Airplane Insurance » Cirrus » Cirrus SR20

Cirrus SR20 Airplane Insurance

Cirrus SR20 Insurance Cost Examples

Cirrus SR20 - Student Working on PRIV

Coverage Limits Premium
Physical Damage $400,000 $8,000
Aircraft Liability $1,000,000 sub $100,000 per passenger $2,000
Total Premium $10,000

Cirrus SR20 - PRIV working on INST

Coverage Limits Premium
Physical Damage $400,000 $5,500
Aircraft Liability $1,000,000 sub $200,000 per passenger $1,500
Total Premium $7,000

Cirrus SR20 - PRIV and INST

Coverage Limits Premium
Physical Damage $400,000 $3,000
Aircraft Liability $1,000,000 sub $200,000 per passenger $1,000
Total Premium $4,000

Aircraft Summary

The Cirrus SR20 was first built and sold as a flight training aircraft in 1999 by Cirrus Aircraft of Duluth Minnesota. The University of North Dakota was one of the first schools to purchase the Cirrus SR20 for training pilots to get their Certified Flight Instructor license. The SR20 was originally designed with 4 seats up until 2012 where there was an option to include 3 seats in the rear. The SR20 is still primarily used for flight training for pilots working on their Private or Instrument ratings. There is a good number of owner pilots flying the SR20, but most owners elect to go with the more powerful SR22.

Both the SR20 and SR22 are equipped with a ballistic parachute that shoots out of the top fuselage in case of emergency. This safety feature made the Cirrus instantly a very unique aircraft. Cirrus as since been the number general aviation piston aircraft, surpassing Cessna. Another milestone was the use of glass cockpits in light trainer aircraft. The SR20 first used the Avidyne avionics and then later switched to the Garmin Perspective 10 inch glass avionics including a Primary Flight Display (PFD) and Multi-Function Flight Display (MFD). This helped increase training pilot’s situational awareness and also later transition into faster more complex turbine powered aircraft for the airlines or corporate business jets. This Cirrus also has the side stick flight controls instead of the traditional yoke.

A brand new Cirrus SR22 fully loaded can cost as much as $800,000.

Some competitors to the Cirrus SR20 are the Diamond DA40, Cessna 400, Tecnam P2010, and Cessna 182.

Models We Cover

Cirrus SR20


As of February 2023, the price range for a Cirrus SR20 is $180,000 – $750,000. The price depends on the year it was built and overall condition of the interior, airframe hours, and parachute repack hours. If it’s being listed for sale the aircraft will go through a pre-buy inspection with a review of the maintenance logs and any maintenance related issues that may affect the value.

For insurance, Cirrus SR20 are used for either Part 91 Pleasure and Business by owner pilots or Part 61/141 Instruction and Rental by a flight school.

Risk Areas

Some of the more difficult Cirrus SR20 to insure are pilots over 75 years old. Insurance companies start paying particular attention when pilots get into their 70s. Underwriters will increase the premium, lower liability limits, require annual training, medical and EKG, or even dual pilot operations at some point.

A Cirrus SR20 insurance policy with over 4 Named Pilots on the policy can also be more expensive because it’s more for an underwriter to manage and it’s also more difficult to get other competing underwriters to quote. Same applies to operations with over 2 fractional owners.

Claim History

The Cirrus SR20 is often used as a trainer aircraft either with a flight school or by an individual owner that buys one and plans to train for his or her Student or Private Pilot License. Training aircraft typically have higher claims. A typical claim is a runway incursion, hard landings, or hangar rash when pulling the Cirrus in or out of the hangar. Claims are relatively low and from an insurance company’s perspective, predictable. There’s a significant number of SR20s in operation which helps insurance companies properly underwrite the risk.

Safety Features

The Cirrus SR20 is a low wing aircraft which allows for great upward visibility from the cockpit. Safety features include the ballistic parachute. Cirrus calls this the Cirrus Airframe Parachute System (CAPS). The older Cirrus aircraft had the Avidyne avionics and the newer Cirrus have Garmin with synthetic vision. It’s called the Synthetic Vision Technology (SVT) which helps pilots with shooting instrument approaches and IFR flights. It also helps improve the safety with better situational awareness and spatial orientation.

Insurance rates for a Cirrus SR20 are low. They start at 1% of the hull value. It’s a safe and profitable manufacturer for insurance companies to underwrite.

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

Cirrus Aircraft has training centers throughout the US and throughout the world.

Parts Service Centers

Cirrus Aircraft has Authorized Service Centers throughout the US and throughout the world.

Find out what we can do for you