diamondaviators.net

Try AOPA.

i own a 2018 DA62, 7 pax config, 1.2M hull value, paid $11k for the premium.
I have >1000hrs, Multi/Com/Instruments

Good luck!

MP

Any updates on the DA62/BasicMed insurance interface? Thanks!

Evening Mack,

Not sure if this would contribute at all but here’s the contact info of the broker that I’m using. He might be able to look into this and point you a certain way. FYI I have a medical and don’t use BasicMed so I’m not too knowledgeable with that part.

Ryan Horst
Managing Director - Aviation, NFP P&C
8201 North Hayden Road | Scottsdale, AZ 85258
P: 480.947.3556| ryan.horst@nfp.com

Thanks - I have a good broker in whom I have confidence. I may have to deal with some Class 3 medical issues and considering possibly transitioning to BasicMed as an alternative; I wanted to get the experience of this forum and have any relevant examples before discussing all my options with my broker. I should have more visibility on these issues in a month or two. Would appreciate any data from other owners (if any) who have been able to insure a 5-seat 62 in the US with BasicMed.

We have multiple US DA62 customers who bought 5-seaters precisely so they could get insured under Basic Med. It can be done.

It would actually be nice for someone to say that they do have Basic Med insurance for a DA62 and with what company and broker. Do not buy a DA62 and look for insurance afterwards. BIG mistake!

We looked for insurance for over a month. We were quoted $17,500 but Basic Med was not acceptable. Then, for the fun of it, we asked insurance for a DA42. Basic Med was acceptable for a DA42 at a premium of $12,500 and with only a CFI sign off. GO FIGURE.

Our insurance is around 5k for our SR22T and we are paying $250 a month for a hangar. With a 42 or 62, we will need a larger corporate hangar at $1,300 a month. So, 12k extra for insurance and 12k extra for a hangar equals 24k per year more for the previledge to fly a DA62 and not to mention that there are really not any in the used market.

It's safe to say that we are now happy having a Cirrus.

Dean & Linda

I agree that:
1. There really aren't any DA62s in the used market right now (at least in North America). This isn't just a DA62 issue; other used Diamond models are also harder to find than in previous years -- with demand far exceeding supply, and rising prices.
2. There's no question that it's more difficult to find hangar space for an aircraft with a 48 foot wingspan like a DA62. If space is available, it's typically either a "corporate hangar," or shared space in a big hangar where you need to call the FBO to pull your plane out before flying. These options are far more expensive than a typical T-hangar. (We're fortunate to rent a rare end-unit T-hangar with a 53-foot door for about $650/month for our DA62 -- although the door sticks and pops a breaker when it's really cold, and our hangar floods during heavy rains!)

As for finding insurance (including flying a DA62 under BasicMed) it's all about working with a Diamond-specialist sales or insurance broker, who should be able to work on your behalf to get you quotes from underwriters who understand these aircraft. (Sorry if I can't provide any names here without my post likely being deleted.)

CFIDave wrote: ↑Fri Apr 09, 2021 4:13 pm As for finding insurance (including flying a DA62 under BasicMed) it's all about working with a Diamond-specialist sales or insurance broker, who should be able to work on your behalf to get you quotes from underwriters who understand these aircraft. (Sorry if I can't provide any names here without my post likely being deleted.)

Thought I would throw my recent experience in here. I assumed (I know, dumb) that BasicMed would be available in the 5 seat configuration. I had let my Class III lapse during Covid times and it was just so easy getting the BasicMed signoff that I figured that would be fine at least for now.

When I talked to John Travers, he disabused me of that. He basically said it *was* possible but at 3-4X the cost. I hustled and was able to find a sympathetic AME and got a new Class III so I'm good but I was very surprised by the need. John says "no problem" in a DA42 but not possible except with "special risk" carriers for the DA62 (as John explained it, until they have a lot of experience they are very wary even though the DA62 is a lot like the "less risky" DA42).

I ended with a premium of ~$20,700 on a $1.4m hull with $1m combined single limit, 100k per passenger. Can step up to $1.5m/150k or $1.5m/250k for about $400 additional premium at each step.

Requires 10 hours dual with CFII who, in turn, has to have at least 25 hours in type. Then an additional 15 solo before I can carry passengers.

I'm ~1,700 hours, MEL, IFR, and lots of turbine time. No accidents or incidents but also not current on BFR/IPC (which I will do during the transition training).

Thanks that's very helpful for future reference. I was also able to get back in the Class 3 game last fall so am not expecting the Basic Med issue on my initial policy.

Travers insures me, too. I'm not even going to tell you how much - it's truly terrifying -- but part of the cost is because I'm currently flying under Basic Med. Because of this, I am now highly motivated to get my Third Class medical back, so that will be happening in another month or so. I may drop back to Basic Med once I've got a couple hundred hours in the plane...but for now, the $$$$$ I'll save next year makes it worth the hassle to get my 3C back.

Mine's also high because I'm planning to get my MEL and IFR in this plane -- again, all of this probably before summer. Once those hurdles are cleared, I expect next year's premium to be a fraction of this year's. I'm also contemplating getting a commercial license...just because I'll be close enough, and can, and it'll probably give me yet another break on the insurance. Even if I give the CPL rating up later (which I'll have to do if I decide to go on Basic Med again), it'll be nice to have at least achieved it for a while.

I'm also planning to take out the two back seats sometime this year.