C340 Insurance

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    I’m interested in how much others have to pay to insure their 340s and if everyone is required to attend an annual sim-training facility.

    To start:

    I pay about $4,400/year.

    Hull value is $300,000. (1982 340a with “all the bells and whistles”)

    I have little time in type (’bout 100 hours), but I’m a professional pilot logging over 300 hours per year.

    Although I agreed to the required refresher this year because it’s been a number of years since I’ve flown a 340 and I think I should (SimCom next week), they still say it’s an annual requirement, even though I attend a part 121 annual recurrent and sim.

    Anybody else?



      I only pay $485 a year for liability only, but have many thousands more hours than you. I don’t have to do recurrent training; again because AVEMCO likes 18,000 hour pilots. Until you build lots more time, all insurance companies will want some kind of recurrent training which isn’t a bad thing anyway.


      I pay about $6k for a C414 with hull value of $290k. I am required to attend annual sim training as well. I have 1200 total hours, 1000 in multi engine with about 400 hours in the C414.

      I have been to Simcom in Orlando, but the last couple of years I have gone to RTC which is about half the cost and is located near KCMI in Illinois. It is a no frills place but I like their sim better.



      I pay $1,716 for Liability – $1 Million/Occurrence and $1 million each passenger and $1000 medical/per. This is a combined single limit.

      The policy can be issued with a $100,000/passenger limit at much less premium. I feel the “smooth” limits worth the extra. $100,000 is pretty low.

      Considering my engines are run out, I have the current hull value at $250,000 and a $100 deductible for all events is $3,880. It is a 1979 C340.

      (I have not explored higher retention and what it would do the the price, but I am going to after writing this.)

      Total cost for the policy just renewed 6/12/2010 – $5597.00

      The company is Illinois National Insurance Co, a subsidiary of CHARTIS

      The company requires annual “approved” training.

      I use: Steve Thibault
      Aviation Enhancements
      6225 47th St SE
      St Cloud, MN 56304
      Work: 612-508-5539
      Mobile: (612)508-5539

      We train in my plane and a rented Sim for the ugly stuff. Steve is excellent, I highly recommend him.

      I have 5,000 TT, 1,800 ME and around 800 in the insured airplane. The pilot endorsement requires all the usual plus 1,000 TT with 50 make and model and 500 ME.

      6/29/2011 Update –

      I just renewed my expiring policy, all terms the same except I do have new motors but did not change the hull value due to market conditions. The renewal was $397 lower than the expiring policy.


      I just renewed my 340 policy in July. The numbers were:

      Liability – $1,000,000 smooth / $30K Medical at $2,283
      Hull – No deductible, premium is 1% of hull value

      I have ~800 hours in the 340. Last year the insurance compay let me take an in-aircraft refresher but said they were unlikely to accept that in the future. They wanted to see systematic training in a simulator.

      I took a look at the premiums over the past few years and noted the following:

      1. Hull insurance in the 2004 – 2007 timeframe was running 1.78% of hull value; that came down in 2008 and has fluctuated between 1% and 1.1%.
      2. Liability was constant from 2004 – 2009 at just under $2,000 for $1M smooth; it increaed 15% this year to ~$2300.
      3. The delta between $1M smooth and $1M / 100K sublimits was quoted as $940.


      I received the quote today for insurance for the 2011-2012 year – virtually unchanged from last year at 1% of hull value and $2,283 for $1M smooth liability. This policy is with Starr Aviation through PIM Aviation Insurance.

      I also received a quote from Avemco. Their quote was ~3% of hull value plus $1,500 for $250K sublimits. They also place a pretty low hull value on 340s. Does anyone insure with them and, if so, what kind of rates are you seeing?


      OK, well, it’s been a year and I appreciate the updates. I guess my insurance isn’t out of line, but it sure feels expensive.

      $ 782 Liability ($1M total, $100K per seat — I don’t have enough time in type for smooth coverage)
      $3,531 Hull (1.177% of $300,000 valuation), no deductible
      $ 1 for misc. endorsements
      $4,294 total

      Required training:
      Formal sim training (SimCom, etc.) every other year and just an IPC in the plane in the off years.

      1982 C340A, low time, great paint and interior, low time engines and brand new glass panel and avionics (radar, sat wx, traffic, etc.)

      ATP, Pt 121 employed pilot
      6,000+ hours TT
      4,000+ hours ME
      …but less than 100 TT in 340.


      I did get a bid from Avemco and it was absurd at over $6K total. They tried to explain that they’re a better company and worth the extra 50%. I don’t know what those folks are smokin’ but I don’t think I want any!

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