Cirrus Vision Jet SF50 Insurance Cost Examples
Cirrus Vision Jet SF50 - Owner Pilot Transitioning from SR22
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $3,500,000 | $40,000 |
| Aircraft Liability | $1,000,000 per occurrence | $5,000 |
| Total Premium | $45,000 |
Cirrus Vision Jet SF50 - Owner Pilot Experienced
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $3,500,000 | $27,000 |
| Aircraft Liability | $5,000,000 per occurrence | $6,000 |
| Total Premium | $33,000 |
Daher TBM-700 - Experienced
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $3,500,000 | $26,000 |
| Aircraft Liability | $5,000,000 per occurrence | $6,000 |
| Total Premium | $32,000 |
Aircraft Summary
The Vision SF50 is a low-wing cantilever monoplane made of composite material and powered by a single Williams FJ33 turbofan mounted above the rear fuselage. It has a V-tail and a retractable tricycle landing gear. The enclosed cabin is 5.1 ft. (1.56 m) wide and is 4.1 ft. (1.24 m) high with room for seven. It is equipped with a CAPS parachute (which deploys from the nose of the aircraft), making it the first jet of any kind to come with a whole aircraft ballistic parachute. It is also considered the first civilian single-engine jet to achieve certification with the FAA.
The single-engine Vision SF50 Generation 2 (G2) will be available for delivery starting in January 2020. New features include a higher maximum operating altitude, autothrottle, lithium-ion mainship batteries, upgraded avionics, new cabin appointments and additional paint schemes. The FJ33-5A engine has also been modified with a new thrust schedule from 24,000 to 31,000 feet and new maximum operating altitude (up from 28,000 feet), giving the G2 an improved climb and a seven-knot increase in cruise speed at 28,000 feet to 311 ktas. At 31,000 feet, the Vision G2 can cruise at 305 ktas, one knot faster than the original Vision at 28,000 feet (at International Standard Atmosphere and maximum takeoff weight). With the new maximum operating altitude of FL310, the G2 Vision is now RVSM capable from the factory.
Models We Cover
Valuation
The Cirrus Vision Jet SF50 was built from 2016 – 2018. It has a price range from $2,100,000 – $2,800,000. Cirrus upgraded to the Vision Jet SF50 G2 in 2019 and has a price range from $2,750,000 – $3,700,000. Cirrus again upgraded the Vision Jet to the G2+ in 2021 and this is the type that is currently in production, as of 2023. The Vision Jet G2+ has a price range of $3,205,000 – $3,605,000. The price range largely depends on what year the aircraft was manufactured.
As of 2023, there have been 93 SF50 Vision Jets built and 85 are currently in operation. There have been 194 SF50 G2s built and 189 are in operation. The SF50 G2+ is the most current type in production and also the most expensive. So far as of February 2023, there have been 153 built and 119 in operation. The lead time for a new Cirrus Vision Jet SF50 G2+ is two years. So if you order a new one in February 2023 you’ll take delivery in the first quarter of 2025.
For insurance purposes the Vision is primarily flown as Pleasure & Business for owner pilots.
Risk Areas
Vision Jets are primarily operated as a Pleasure & Business operation by owner pilots. The most difficult or potentially expensive insurance operations to insure are pilots over 75 years old, over 2 fractional owners, over 2 dry leases, and listing over 4 Named Pilots on the policy.
One or two insurance companies will often require pilots to have at least 500 hours total time and be upgrading from a SR22 along with 50 hours dual with a mentor pilot prior to solo. Most insurance companies will require at least 1,000 total time because of the high hull value of a Vision Jet.
Claim History
As of February 2023, there have been a total of two parachute pulls on the Vision Jet. A typical claim is a hard landing, engine FOD, runway incursions or hangar rash. Claims are relatively low and predictable to underwrite. 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 Vision Jet is equipped with the Cirrus Airframe Parachute System and Garmin G3000. The G3000 for Cirrus is called the Perspective Touch+ with the Synthetic Vision Technology (SVT). The Vision Jet has a Full Authority Digital Engine Control (FADEC) for engine controls.
Insurance rates for a Vision Jet are low provided its a well qualified pilot that focuses on safety and training. Rates start around 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.
See our complete list of approved flight schools and Part 141 flight schools for more information.
Parts Service Centers
Cirrus Aircraft has Authorized Service Centers throughout the US and throughout the world.