Insurance for your aircraft and what to look for.
How Much Does Aircraft Insurance Cost?
The cost of aircraft insurance depends on multiple factors, and you can be assured that specialists ensure that you get the right policy for your individual situation. Factors that affect the price of your aircraft insurance include the type and size of your plane, your training and flying history, the number of passengers your plane holds, and more. We recommend having the most coverage you can reasonably afford. Speak with an aviation insurance specialist today to find the policy that’s right for you!
What is Covered by Liability Insurance?
Liability insurance provides Bodily Injury and Property Damage protection*. This coverage makes sure you are protected if you cause damage to others and claims are made against you by third parties for which the law holds you legally liable. The commitment is to defend you and pay your legal fees if you are sued. If you are at fault, Insurance will pay for the damages according to the terms of your policy. Some insurance policies also includes unlimited legal defense costs. If you rent an airplane but still need insurance, go to an Aircraft Renters Insurance for help.
Note: This coverage is not first-party medical or life insurance.
What is Aircraft Hull Insurance?
While Aircraft Liability protects you if you damage someone else or their property, Aircraft Hull insurance provides coverage for physical damage to your aircraft, whether in flight, taxiing, or on the ground. There are many options for hull coverage. Our aviation insurance specialists will craft a policy based on your individual situation.
How Much Aircraft Insurance Should You Have?
When deciding how much personal airplane insurance you should carry, consider these factors:
Your personal assets
The liability limits you carry on other insurance policies (homeowner's, auto, etc.)
Whom you carry as passengers
How the aircraft is used
How much insurance you can afford
These factors will play a large role in determining what policy is best for your unique situation. It’s also important to note that the ability of your insurance company to resolve claims is just as important as your liability limit.