important aspect

  • Aviation insurance can cost anywhere from $1,000 to hundreds of thousands of dollars.
  • Only 12 states require pilots to have liability insurance.
  • Your flying experience, insurance history, aircraft model and your use of it will determine how much you pay in annual premiums.

Make no bones about it: a private aircraft can be one of the most expensive machines you can insure, behind only space vehicles and certain long-distance satellites.

For some smaller planes, like the Beechcraft Bonanza G36, you can get away with paying $1,000 a year for liability and “hull coverage” — the policy covering the physical plane. But for larger private jets, you can pay anywhere from $10,000 to hundreds of thousands of dollars Every year In aviation insurance.

That said, the price of airplane insurance is situational and will vary based on which airplane you’re flying, how many hours you’ve flown as a pilot, and where you park it. You may pay less if you never make an insurance claim — or more if you plan to teach aviation students how to fly with your airplane.

How much does it cost to insure a private plane?

To give you a rough idea of ​​how much it will cost to insure a private plane, here are the average insurance premiums for five popular planes.

Name of the aircraft

average cost

Annual estimate for liability of $1M

Annual Estimate for Liability + Coverage for Aircraft (Hull)

Cessna TTX


$567 to $740

$4,050 to $6,530

Cirrus vision

$1.9 to $2 million

$1,500 to $1,750

$13,000 to $16,700

Eclipse 500

$700,000 to $1 million

$1,250 to $2,600

$16,200 to $20,600

Beechcraft King Air 350

$2 to $4 million

$2,180 to $3,500

$8,870 to $21,200

Embraer Phenom 100

$2.4 to $2.9 million

$1,500 to $1,750

$18,000 to $22,700

Data source: Evojets and BWI.

Can you buy airline coverage?

Insurance companies generally divide aviation insurance into two policies: liability and hull coverage.

Liability covers expenses related to bodily injury to pilots, crew and passengers. Typically, companies will offer a minimum liability of $100,000, up to several million.

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Hull coverage helps you pay for physical damage to your aircraft, whether from accidents, vandalism or weather. Because planes are expensive to repair or replace, hull coverage takes up the majority of your insurance premiums.

Of course, insurance companies are in the business of making money, and as such, they have many policies that you can add on for additional costs. Some of the most common include:

  • International liability. If you’re traveling outside the US, it’s additional insurance to cover you, your crew and your passengers. Some countries, in fact, require your international liability to fly within their airspace.
  • Public liability: It covers any damage or bodily injury to civilians and their property if you have an accident.

What Factors Affect Air Insurance Premiums?

Like car insurance and homeowners insurance, aviation insurance can be difficult to price. Insurance companies typically look at numerous variables to calculate your premium, such as:

  • Your aircraft model. More expensive planes will cost more for hull coverage.
  • flying experience Insurance companies will look at the total number of hours you have flown. Generally, you are considered an experienced pilot if you have flown more than 5,000 hours.
  • Your insurance history. More accidents or insurance claims will make your premium more expensive.
  • Plane parking. Sheltering your aircraft in a hangar can reduce insurance costs.
  • Frequency of aircraft use. The more miles you fly on your plane each year, the higher your premium will be.

Who sells aviation insurance?

You can purchase flight insurance for most private aircraft from BWI Fly, Wings and USAA. As with other types of insurance, you can enlist an independent insurance agent to help you find the best overall coverage at the lowest price.

Do you need airline insurance?

Yes. If you are going to fly an airplane, you should have airplane insurance.

Unlike car insurance, the federal government does not require pilots to carry airplane insurance. But 12 states to do You need a certain amount of liability coverage to fly legally. Currently, those states are California, Connecticut, Hawaii, Indiana, Maryland, Massachusetts, Minnesota, North Dakota, Oregon, Rhode Island, Virginia, and Utah.

Even if your state doesn’t require liability coverage, it’s wise to have this policy before you fly with other people. If you get into an accident without insurance, you’ll be on the hook for paying out of pocket for your passengers’ medical bills, not to mention your own.

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