Piper PA-46 Matrix Insurance Cost Examples
Owner Pilot and Experienced
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $600,000 Agreed Value | $7,000 |
| Aircraft Liability | $2,000,000 Per Occurrence | $3,000 |
| Total Annual Premium | $10,000 |
Owner Pilot and Experienced but less than 1,000TT
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $600,000 Agreed Value | $9,000 |
| Aircraft Liability | $1,000,000 Per Occurrence | $3,000 |
| Total Annual Premium | $12,000 |
Owner Pilot and Experienced but less than 400TT
| Coverage | Limits | Premium |
|---|---|---|
| Physical Damage | $600,000 Agreed Value | $12,000 |
| Aircraft Liability | $1,000,000/ $250,000 Pax. | $3,000 |
| Total Annual Premium | $15,000 |
Aircraft Summary
The Matrix offers all the features you need for luxurious, high performance flying. Its entrance door behind the wing, central aisle between the seats, modern and tidy instrument panel, laptop power connection, and both interior and exterior baggage storage make it ideal for no-compromise voyages. It also has a top speed of 213 knots true airspeed, a range of 1,343 nautical miles with long-range performance settings, and a service ceiling of 25,000 feet. If the optional de-icing system is installed, the Matrix is even certified for flights in known icing conditions.
Models We Cover
Valuation
The current market price range of a Piper Malibu Matrix is $476,000 and $796,000. Piper Aircraft built the first Matrix in 2007 and discontinued production in 2015. A total of 214 Malibu Matrix were produced. 206 of them are still in operation, while 8 have been retired.
Risk Areas
The hardest Malibu Matrix to insure is those flown by pilots over 75 years of age looking to start a new relationship with a new insurance company. Less experienced pilots are also difficult to insure, more than 3 named pilots, and low-time pilots hoping to transition from a smaller aircraft.
Underwriters typically require initial training in the type/model and recurrent training. They will require pilots to have undergone full-motion simulator-based or in-aircraft training within the preceding 12 months.
Claim History
The PA-46 Malibu Matrix has a good claim history. Being a non-pressurized aircraft, it offers a greater advantage in terms of maintenance and insurance when compared to its turboprop brothers.
The FAA announced an Airworthiness Directive in April 2021 that mandates finding and fixing nonconforming stall warning heat control systems, which also applies to Piper Matrix. What necessitated the directive was the realization that several planes with wing assemblies did not have the required stall warning heater modification design.
Ice can form on the stall vane during flights into icing conditions with the landing gear down if the appropriate stall warning heat control modification kit isn’t installed. This might lead to the stall warning system failing.
Safety Features
The Lycoming TIO-540-AE2A is one of the strongest and most reliable piston engines. The PA-46 Malibu Matrix is equipped with the latest Garmin G1000 Avionics Suite with autopilot. The glass flight deck presents flight instrumentation, navigation, weather, terrain, traffic, and engine data on large-format, high-resolution displays.
The suite features a GFC 70 Autopilot with GMC 710 AP Controller and Yaw Damper System, Dual GRS 77 AHRS Computers, Garmin FliteCharts, and Garmin SafeTaxi. It also has GTX 33 ES Mode S Transponder and Standby Flight Instruments.
Jeppesen ChartView, TAWS-B (Terrain Awareness and Warning System), and KTA 870 Traffic Advisory System enhance situational awareness during flight. GWX 68 Weather Radar, GDL 69A XM WX Satellite Weather, Flight Into Known Icing (FIKI), L3 WX-500 Stormscope.
Assurance Package and Synthetic Vision Technology (SVT)-Garmin Synthetic Vision also enhance situational awareness and safety from takeoff to landing. SVT helps to enhance the visibility even in IFR conditions.
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
See our complete list of approved flight schools and Part 141 flight schools for more information.
Parts Service Centers
Piper Authorized Service Centers are located throughout the US and throughout the world. Here’s a link to Piper Authorized Service Centers https://www.piper.com/find-a-service-center/