Daher-Socata TBM-700 Insurance Cost Examples
Daher TBM-700 - Owner Pilot Transitioning from SR22
|Aircraft Liability||$2,000,000 per occurrence||$5,000|
Daher TBM-700 - Owner Pilot w/ 1,500 Total Time
|Aircraft Liability||$2,000,000 per occurrence||$4,000|
Daher TBM-700 - Experienced
|Aircraft Liability||$5,000,000 per occurrence||$5,000|
The Socata TBM-700 is a powerful single-engine turboprop, outfitted with the latest Bendix/King Silver Crown avionics. It offers a competitive alternative to the Pilatus PC-12, being slightly smaller and providing a faster cruise speed, all at a comparable price. The A model, with its distinctive narrow clamshell door, has been replaced by the B model featuring a larger cargo-style door.
The TBM-700C stands apart from its counterparts with an increased maximum takeoff weight, 20G cabin seats, reinforced wing structure, larger cargo space, freon air conditioning, and an improved altitude ceiling. The C1 version is tailored to customers in Europe and the C2 for North America, with the former not possessing the increased maximum takeoff weight. All in all, the TBM-700C is an impressive aircraft with a range of desirable features.
Models We Cover
This includes the TBM 700A, 700B, and 700C2. As of 2023 the price range for a Daher or Socata TBM 700 is $700,000 – $1,780,000. The Daher TBM 700 aircraft started with the TBM 700A in 1990 and the last 700C2 was built in 2006. The TBM types were then upgraded to the TBM 850 in 2006. The 700s are the oldest TBMs therefore the price range largely depends on the engine TBO time, avionics, paint, interior, claims history or accidents, and the accuracy of the maintenance logs. If the aircraft is for sale it will undergo a pre-buy maintenance inspection to determine if there is corrosion. The value also follows the typical economic cycles of the economic supply and demand.
There are a total of 321 built and as of February 2023 there are currently 269 in operation.
Some risk areas for insurance are pilots over 70 years old that are new to flying the TBM. We have seen several pilots over 75 years old continue to be insured for single pilots in the TBM if they already have a relationship with their insurance company and also haven’t had any major claims within the past 5 years. Rates can also be higher for operations that have more than 2 fractional owners, dry leases, and more than 3 named pilots on the policy. For less experienced transitioning pilots from something like a Cirrus SR22 pilots will be required to have at least 500 hours total time and then require 25 – 50 hours dual with a mentor pilot. Most insurance companies will require 1,000 total time and dual make and model after initial training.
The TBM 700 has been around since 1990 and they have had a good claims history. Insurance companies are familiar with underwriting the TBM and claims are relatively low. Most claims are from pilot error such as runway incursions, hard landings, and hangar rash. Engine FOD is also a common claim.
The biggest safety feature for a TBM is the Pratt & Whitney PT6 turboprop engine being one of the most reliable turbine engines ever built. The TBM 700 is the first TBM ever built by Socata and there’s a wide range of avionics. Most TBM 700s have been upgraded to Garmin products like the G600 TXi touchscreen with Synthetic Vision Technology (SVT).
Insurance rates of a TBM 700 are low provided it’s a well qualified pilot that has an emphasis on safety and training. Rates start around 1% of the hull value and go up with more risk. Socata and now Daher is a safe aircraft the insurance companies like 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!