Extra Insurance Cost Examples
Extra EA 330LX - Owner Pilot Experienced
|EA 330LX Physical Damage||$400,000 Agreed Value||$10,500|
|Aircraft Liability||$1,000,000/ $100,000 Per Pax||$1,500|
|Total Annual Premium||$12,000|
Extra EA 330LT - Owner Pilot 1,500 Total Time
|EA 330LT Physical Damage||$450,000 Agreed Value||$16,000|
|Aircraft Liability||$1,000,000/ $100,000 Per Pax||$2,500|
|Total Annual Premium||$18,500|
Extra Aircraft were first designed and manufactured in Germany in 1980 and their primary use is for owner flown aerobatic flights for pleasure and business, aerobatic competitions, and airshows.
The insurance premium for an Extra depends on the pilot’s experience and whether or not there are going to be any commercial uses for airshows, flight instruction, or aerobatic competitions.
An easy way to estimate or visualize the premium for a Extra Aircraft is: 3%, 4%, and 5%
- 3% of the hull value for experienced pilots with the hull value around $500,000
- 4% of the hull value for experienced pilots with the hull value around $300,000
- 5% of the hull value for less experienced pilots
The highest liability limits available to Extra owners is $1,000,000 per occurrence and is often sublimits to $100,000 per person or passenger. There are deductibles on physical damage claims like $5,000 per claim.
Models We Cover
Typically, if there are more than 15 Extra aircraft for sale it is considered a buyers market. Much of the resale value is dependent on the overall supply and demand of the aerobatic industry and aircraft industry.
The hardest aircraft to insure for Extra owners is low time pilots getting into a new high hull value Extra EA-330 for the first few years while they build up their aerobatics flight time. Also pilots over 70 years old have to start preparing to stay with the same insurance company for the remainder of their flying career.
Extras have had a pretty good claims history considering the nature of the typical flight operations in aerobatic maneuvers. Extra aircraft only have either one or two seats so the premium charged for bodily injury to passengers is minimal and the liability limits offered by insurance companies is $1,000,000 or less.
Flight Training Centers
See our complete list of approved flight schools for more information.