Diamond Insurance Cost Examples
Diamond DA42 - Owner Pilot - Private and Instrument
|DA42 Physical Damage||$600,000 Agreed Value||$6,500|
|Aircraft Liability||$1,000,000 Per Occurrence||$1,500|
|Total Annual Premium||$8,000|
Diamond DA62 - Owner Pilot - Private, Instrument, Multi, 400 Total Time
|DA62 Physical Damage||$1,400,000 Agreed Value||$17,000|
|Aircraft Liability||$1,000,000 Per Occurrence||$2,000|
|Total Annual Premium||$19,000|
Diamond DA62 - Owner Pilot - Private, Working on Instrument and Multi
|DA62 Physical Damage||$1,400,000 Agreed Value||$25,000|
|Aircraft Liability||$1,000,000 Per Occurrence||$3,000|
|Total Annual Premium||$28,000|
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.
Models We Cover
Diamond Aircraft hold their value fairly well and have been in high demand since the COVID pandemic. The value largely depends on the year and hours on the airframe. New deliveries are back ordered about a year out.
The hardest Diamond Aircraft to insure is Student Pilots looking to purchase a high hull value DA50 or DA62 and use it for their Private Pilot training. There are two insurance companies that can insure these types of operations, but it does take some convincing and the rate for the first year can be up to 3% of the insured value of the aircraft.
Diamond Aircraft has a good claims history and most insurance companies are rating them similar to a Cirrus Aircraft. There are a lot of Diamonds in operation so there’s good data for insurance companies to rate the risk.
The Diamond Aircraft has Garmin G1000NXi flight deck avionics systems, optional oxygen system for high altitude flights, TKS deicing system, and powered by Continental Aerospace Technologies engines.
Flight Training Centers
Diamond Aircraft Flight Training Centers are located throughout the US and throughout the world. Diamond also has OEM simulator training
See our complete list of approved flight schools for more information.