Piper M600 / SLS
Piper PA-46 Malibu
Piper PA-46 Malibu Jetprop
Piper PA-46 Matrix
Piper PA-46 Meridian
Piper Insurance Cost Examples
Piper M600 - Owner Pilot retired airlines pilot high experience
|M600 Physical Damage||$3,000,000 Agreed Value||$18,500|
|Aircraft Liability||$2,000,000 Per Occurrence||$4,200|
|Total Annual Premium||$22,700|
Piper M600 - Owner Pilot with 2,200 total time and age 71 years old
|M600 Physical Damage||$2,500,000 Agreed Value||$20,900|
|Aircraft Liability||$5,000,000 Per Occurrence||$7,100|
|Total Annual Premium||$28,000|
Piper M500 - Owner Pilot with 500 Total Time
|Meridian Physical Damage||$900,000 Agreed Value||$9,000|
|Aircraft Liability||$2,000,000 Per Occurrence||$4,000|
|Total Annual Premium||$13,000|
It’s no surprise that new delivery Piper Aircraft like the M600 are sold out for a year and a half. The Piper Aircraft have been in high demand since the pandemic for owner flown Part 91 Pleasure & Business operations. Piper Aircraft’s main headquarters is in Vero Beach Florida and they distribute aircraft throughout the world. The main competitors are Daher TBM, Pilatus PC-12, Cirrus Vision Jet, and Diamond DA50.
There are a total of 12 insurance companies that are able to quote the Piper M Class aircraft. Generally, premiums have been going up for most owners but this market is still somewhat competitive. The hull premium typically accounts for around 70% and liability is 30%, as a rough estimate.
An easy way to estimate or visualize the premium for a Piper Aircraft is: 1%, 1.5%, and 2%
- 1% of the hull value for experienced pilots and less than 3 named pilots on the policy
- 1.5% for the hull value for pilots with less than 1,500 total time, dry leases, over 3 named pilots on the policy, and high liability limits like $5,000,000 per occurrence.
- 2% for the hull value for pilots over 70 years old and pilots transitioning from something like a Cirrus SR22 with less than 1,000 total time
The Malibu M-Class Owners and Pilots Association MMOPA is a good organization for pilots to share insight in the Piper market through the online forums and annual fly-in meetings. Each year they have the annual meeting at a different location to accommodate Piper pilots from around the country. They also have an event at EAA Oshkosh every year. Here’s a link to MMOPA https://mmopa.com/. The Forums section is a great place to learn from other Piper owners.
Models We Cover
Piper aircraft hold their value well along with the rest of the market being in very high demand. The best sources for valuation are with your aircraft sales broker, Aircraft Bluebook, and Controller.com.
The Piper Aircraft market is very competitive. Many motivated buyers look for months before finding the right aircraft to purchase. A good reference for properly valuing a Piper aircraft is Aircraft Bluebook, Controller.com, and your local aircraft sales broker.
The hardest aircraft to insure for Piper is typically pilots over 70 years old looking to develop a new relationship with an insurance company. Another difficult to insure operation is a very low time pilot transitioning into an expensive Piper M600. An example of this would be a Cirrus SR22 pilot with 400 total time that’s buying a new Piper M600 with a hull value of $4,000,000. There will likely be up to 25 hours of dual mentor pilot time required after completing the initial flight training from an approved school.
It’s typically recommended that the pilot have over 700 total time and place a strong emphasis on training and some dual pilot mentor hours prior to solo operations.
The Piper Aircraft have had a good claims history. There are also so many Piper aircraft out flying around in the market that insurance companies have a clear understanding of what the risk profile looks like. A typical claim for a Piper turboprop aircraft is a prop strike from a hard landing or taxiing too fast on poor surface area conditions. Prop strikes on turboprop aircraft require the engine to complete a complete overhaul which is expensive and time consuming.
The new Piper M series aircraft has an Autoland button in the cockpit which is coupled with the autopilot to safely land the aircraft if the pilot becomes incapacitated or disorientated in IFR flight conditions. The Autoland has been a big selling point for Piper. Most Piper pilots are owners and either the pilot or their significant other also need to be sold on the safety of the aircraft. The Autoland has helped solve this problem and save lives.
The Piper M600/SLS is a high-performance, pressurized, single engine turboprop, which has recently become the first GA aircraft to be FAA certified with Garmin AutoLand. The Piper M600/SLS is based on the Piper M500 (Piper Malibu Meridian) with an all-new clean-sheet wing design and increased fuel capacity. The M600 has been equipped with the Garmin G3000 touch screen avionics including the new Piper ‘Halo Safety System’ AutoThrottle, AutoLand, Automatic Level Mode, SafeTaxi, Terminal Traffic and more. The M600/SLS is powered by 1 x P&WC PT6A-42A turboprop engine generating 600 shp each, delivering a max speed cruise speed of 274 ktas and a max range of 1,406 nm.
Aircraft Insurance Cost Guide
Learn more about the cost of insurance for private pilots based on your aircraft type and the various factors that affect premium rates. Whether you’re seeking owner aircraft insurance or commercial aircraft insurance, this valuable information will help to make an informed decision about the best coverage for you. If you have any additional questions, please don’t hesitate to reach out!
Flight Training Centers
Piper Flight Training Centers are located throughout the US and throughout the world. Here’s a link to Piper Training Centers https://www.piper.com/flight-schools/ or https://sunsetais.com/wp-content/uploads/Approved-Schools.pdf