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Learjet Airplane Insurance

Learjet Insurance Cost Examples

Learjet 45XR - Dual Pilot Typed Rated

Coverage Limits Premium
45XR Physical Damage $3,000,000 Agreed Value $14,500
Aircraft Liability $25,000,000 Per Occurrence $11,500
Total Annual Premium $25,500

Learjet 60 - Dual Pilot Typed Rated, SIC 24 Month Training

Coverage Limits Premium
60 Physical Damage $3,000,000 Agreed Value $18,000
Aircraft Liability $25,000,000 Per Occurrence $11,500
Total Annual Premium $29,500

Learjet 70 - Dual Pilot Typed Rated

Coverage Limits Premium
70 Physical Damage $10,000,000 Agreed Value $35,000
Aircraft Liability $50,000,000 Per Occurrence $15,000
Total Annual Premium $50,000

Aircraft Summary

Learjet was one of the first private companies to manufacture private jets. In 2021, they announced that Learjet would stop production but continue to support existing aircraft operations and maintenance. The Learjet is a very fast dual pilot jet that is used for Part 91 corporate flights and Part 135 Charter. It’s primarily flown by professional pilots that are required to do simulator training in the same make and model annually.

The Bombardier Learjet 75 is the newest derivative of the popular Learjet 45. Compared to the Learjet 45XR, the Learjet 75 has improved avionics, redesigned winglets yielding better fuel efficiency, and upgraded engines.

Liability premium typically accounts for around 30% of the overall premium. The liability premium is based on the number of seats, liability limit, and use and operations of aircraft. The remaining 70% of the premium is based on the hull value.

An easy way to estimate or visualize the premium for a Learjet Aircraft is: 0.5%, 1%, and 1.5%

  • 0.5% of the hull value for experienced pilots and high hull value such as $7,000,000
  • 1% of the hull value for experienced pilots,hull value around $3,000,000, high liability limit like $150,000,000
  • 1.5% of the hull value for experienced pilots and high hull value such as $2,000,000 and Part 135 Charter and high liability limit

Whether the insurance market is a hard market or soft market, aviation underwriters will be seeking to find jet operators and owners with the best resume or candidates with the lowest risk profile. While riskier sections of the aviation insurance industry can see a lot of volatility, some of the best jet operations in the world have continued to operate unaffected by insurance rate increases.

Models We Cover

  • 31
  • 35
  • 40
  • 40XR
  • 45
  • 45XR
  • 55
  • 60
  • 60XR
  • 70
  • 75 Liberty
  • 75

Valuation

Learjets hold their value decently well, especially since the pandemic where demand to fly corporate has increased exponentially. Current owners have been looking to upgrade and first time buyers that had been sitting on the fence with the means to buy a Learjet or corporate jet now had the excuse they needed to pull the trigger. 

Risk Areas

The hardest Learjet jets to insure are the older aircraft and specifically the operators that are trying to save money by not sending both pilots to simulator school in the same make and model Learjet annually. The majority of the Learjet operators don’t have this problem, but sometimes with the lower purchase price of older Learjets, it brings out bargain hunters that think saving money on maintenance or pilots is a badge of honor when it comes to their frugality. 

Claim History

Learjets have had an amazing claims history. There’s also over 2,000 Learjets in operation worldwide so aviation underwriters have a lot of data to properly rate the risk. They very rarely have total losses, but like the rest of the aircraft insurance industry the risk is a catastrophic loss that can wipe out a decade of insurance premiums collected from the insurance companies. 

Safety Features

Learjets are extremely safe to operate because they are so well manufactured and maintained, but also because the pilots that fly the Hawker are very well qualified. Pilots are required to complete recurrent training annually in the same make and model aircraft. 

Pilots that fly the Learjet are either Named on the policy or fly under the Open Pilot Warranty, which will require a minimum of 3,000 hours total time, 100 hours in make and model, and annual training. 

Flight Training Centers

Learjet 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

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

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