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Gulfstream Airplane Insurance

Gulfstream Insurance Cost Examples

Gulfstream G-IV - Dual Pilot Typed Rated

Coverage Limits Premium
G-IV Physical Damage $6,000,000 Agreed Value $22,500
Aircraft Liability $300,000,000 Per Occurrence $25,000
Total Annual Premium $45,500

Gulfstream G550 - Dual Pilot Typed Rated

Coverage Limits Premium
G550 Physical Damage $40,000,000 Agreed Value $72,000
Aircraft Liability $300,000,000 Per Occurrence $28,000
Total Annual Premium $100,000

Gulfstream G650ER - Dual Pilot Typed Rated

Coverage Limits Premium
G650E Physical Damage $65,000,000 Agreed Value $98,000
Aircraft Liability $300,000,000 Per Occurrence $32,000
Total Annual Premium $130,000

Aircraft Summary

Gulfstream is one of the most iconic large cabin corporate jets in the world. Capable of flying non-stop in luxury almost anywhere, except warzones. The newest Gulfstream is the G700 and G800 which have been in a speed and range race with Bombardier’s Global 7500 and 8000. A brand new G800 is expected to cost $80,000,000. Corporate jets of this value typically have liability limits around $300,000,000 per occurrence.

 

The hull value typically accounts for around 70% of the overall premium. The remaining 30% of the premium is from the liability limit. The insurance premium for a Gulfstream depends on the pilot’s experience, number of seats, and use of aircraft as far as commercial or private operations. European Union operations require at least $250,000,000 in War liability. This coverage can be purchased on a per trip or annual premium basis. Per trip is $1,000 and annual is $2,500.Gulfstreams are some of the safest jets in the world for a few reasons. They are well manufactured and maintained but also flown by some of the best most professional and experienced pilots in the world. Pilots are required to complete annual full motion simulator training at least one a year per the insurance policy requirements.

An easy way to estimate or visualize the premium for a Gulfstream Aircraft is: 0.2%, 0.4%, and 0.6%

  • 0.2% of the hull value for experienced pilots and high hull value such as $50,000,000
  • 0.4% of the hull value for experienced pilots and high hull value such as $25,000,000
  • 0.6% of the hull value for experienced pilots and high hull value such as $10,000,000

While much of the aviation industry has recently experienced a hard market since 2019, some of the best Gulfstream jet operators have been very mildly impacted because aviation insurance underwriters are constantly seeking to insure operations with the most favorable risk. This typically involves owners who are very well funded and spare no expense when it comes to their flight operations.

Models We Cover

  • G-II
  • G-III
  • G-IV
  • G-IVSP
  • G100
  • G150
  • G200
  • G280
  • G300
  • G350
  • G400
  • G450
  • G500
  • G550
  • G600
  • G650
  • G650ER
  • G700
  • G800

Valuation

Gulfstream aircraft hold their value pretty well along with the rest of the market but most owners' primary concern isn’t the resale value as they typically depreciate the aircraft as a tax write off.

Risk Areas

The hardest Gulfstream aircraft to insure are old G-IIs or G-IIIs that are trying to get pilot warranties that don’t require both pilots to complete annual training in the same make and model. Also another hard market of the industry is getting pilots over 72 years old approved. Underwriters will want to know what the exit plan is for any pilots over 70 years old to eventually be phased out. 

For the most part Gulfstreams are very easy to insure because there are so many of them in operation and the owners are typically very well established and funded business owners that spare no expense when it comes to their flight operations. 

Claim History

The Gulfstreams have had an excellent claims history . The support from Gulfstream for Aircraft On the Ground (AOG) has helped downed aircraft get back to being airworthy in record fashion. The employees or personnel at a Gulfstream flight department are the most experienced and typically have had to work their way up various other flight departments to get to a Gulfstream. 

Gulfstreams very rarely have catastrophic losses but with all jets, the risk is always there and can wipe out decades of premiums collected from the aviation insurance companies. 

Safety Features

Gulfstreams are some of the safest jets in the world for a few reasons. They are well manufactured and maintained but also flown by some of the best most professional and experienced pilots in the world. Pilots are required to complete annual full motion simulator training at least one a year per the insurance policy requirements. 

Flight Training Centers

Gulfstream Flight Training Centers are located throughout the US and throughout the world at full motion level D simulators. FlightSafety International, CAE Simuflite, and Simcom.

See our complete list of approved flight schools for more information.

Parts Service Centers

Gulfstream Authorized Service Centers are located throughout the US and throughout the world.

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