Diamond Airplane Insurance

Diamond Aircraft are headquartered in Austria and are a competitor to Cirrus Aircraft as far as purchase price and utility. The Diamond Aircraft primary uses are for training purposes for flight schools and also owner flown and operated.

The Diamond DA62 is a five to seven seat, twin-engined light aircraft produced by Diamond Aircraft Industries and first announced in March 2012. The aircraft is available in two weight versions. The “European” version has five seats and a maximum takeoff weight (MTOW) of 1,999 kilograms (4,407 lb), the “US” version has seven seats and a MTOW of 2,300 kilograms (5,071 lb). DA62 aircraft that have the alpha-numeric “C” appended into their serial #’s, denote that the aircraft was built in the Canadian manufacturing facility, as opposed to the Austrian facility. A new DA62 aircraft can cost up to $1,700,000.

The DA50 RG is the newest version of the Diamonds, which is a single engine, jet fueled engine with retractable gear. Also coming soon is the Diamond DART series which is a carbon fiber turboprop for aerobatic flying.

Liability premium is based on the number of seats, commercial or private use, and liability limit. The liability premium is typically around 30% of the overall premium. Hull value is the remaining 70%.

An easy way to estimate or visualize the premium for a Diamond Aircraft is: 1%, 2%, and 3%

• 1% of the hull value for pilots with a Private and Instrument rating and non-commercial flight operations
• 2% of the hull value for pilots with just a Private and working on an Instrument and Multi-Engine license
• 3% of the hull value for Student Pilots working on a Private Pilot License, also Commercial flight operations like flight schools

Insurance policies for reciprocating engine aircraft don’t require annual training like a turbine engine policy although some policies do require an annual Instrument Proficiency Check or Biennial Flight Review.