Daher-Socata TBM-940 Insurance Cost Examples
Daher TBM 940 - Owner Pilot Transitioning from SR22
|Aircraft Liability||$2,000,000 per occurrence||$7,000|
Daher TBM 940 - Owner Pilot w/ 1,500 Total Time
|Aircraft Liability||$2,000,000 per occurrence||$6,000|
Daher TBM 940 - Experienced
|Aircraft Liability||$5,000,000 per occurrence||$6,000|
Models We Cover
The price range of a Daher TBM 940 is $4,200,000 – $4,570,000. It’s a fairly close price range because all of the TBM 940s are newer aircraft. It was built from 2019 and as of 2023 it’s still in production. The value mainly depends on the year it was built as long as it hasn’t had any major damage to the airframe or engine.
As of February 2023, there have been 151 TBM 940s built and 147 still in operation.
For insurance, the TBM 940s are mainly flown as Pleasure & Business by owner pilots.
TBMs are flown by a wide range of experienced pilots. One of the more common age groups is pilots over 60 years old and age always becomes a part of the discussion when pilots start approaching 70 years old. There is no hard age cut off number for insurance and the FAA doesn’t have an age restriction but most TBM pilots will start seeing age be factored into insurance rates, liability limits, and pilot warranties around 70 with dual pilots required between 75 – 80 years old.
It can also be expensive for the first few years for pilots that are Transitioning from a smaller piston aircraft such as a Cirrus SR22 into an expensive TBM 940 or 960. A few insurance companies will quote 500 hours total time and 25 -50 hours dual with a mentor pilot with low liability limits like $1,000,000 per occurrence. Most insurance companies will require at least 1,000 hours total time along with some dual mentor pilot experience prior to solo.
Each year at the annual TBMOPA conference, there’s a lot of emphasis placed on how unstabilized approaches lead to accidents or incidents such as prop strikes, hard landings, and runway incursions. Other non-pilot related claims are hangar rash from the FBO, weather or fire related physical damage, engine FOD, and bird strikes.
The TBM 940 has the Garmin G3000 avionics with Synthetic Vision Technology (SVT) avionics and a PT6 engine, two of the most reliable products in General Aviation. Daher introduces the emergency autoland system for the TBM 940 called the HomeSafe button. Anyone on board can press the button if the pilot becomes incapacitated and the aircraft will shoot an approach and make a safe landing.
Insurance rates for the TBM 940 start around 1% of the hull value for well qualified pilots and can be as high as 2% for less experienced pilots transitioning from a piston such as a Cirrus SR22.
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!