Two of the worst possible outcomes for a pilot are for their plane to be damaged or for one of their passengers to be hurt. A pilot who flies without aviation insurance is putting himself and his passengers in severe financial and legal danger in the event of an accident. Read our quick primer on best aircraft insurance to learn everything you need to know to keep you and your plane safe. Having to deal with aviation insurance is one of the most extensive hassles pilots have, quickly dampening the flying experience. It’s not easy to shop for insurance, and buying the wrong coverage could leave you financially and otherwise stranded.
Aircraft owners require comprehensive insurance for their planes, but pilots renting planes from clubs, flight schools, and other rental companies can get by with simple and cheap non-owned aircraft insurance. Find the best policy to suit your needs and keep flying by learning about the situations in which insurance is required.
The Best Aircraft Insurance
Although USAA Insurance’s roots are in auto insurance, the company has grown to become a one-stop shop for military personnel and their families. It provides veterans access to various financial services, including mortgages, auto, life, and health insurance, in one convenient location. USAA is the best option for veterans needing aviation insurance because of the personalized service knowledgeable underwriters provide and the competitive annual rates at which members can renew their policies.
USAA insures both private and commercial aircraft, as well as the aviation and farming industries. Legal protection against claims made by third parties is a possibility. Easy policy selection is ensured by plans’ coverage for various aircraft types, including planes, helicopters, seaplanes, warbirds, and commercial UAVs (drones). Aircraft type, coverage requirements, and yearly premiums affect the total cost. In some cases, you can find annual premiums less than $100. Insurance for private planes is available to USAA members. The members can get their quotes by logging into their accounts online or calling USAA.
Since its founding in 1984, aviation insurance specialist Wings has become a leading provider of insurance products and services to clients worldwide. We like these plans for commercial aviation since they are tailored to meet each client’s individual demands in terms of usage, coverage, and budget. Aircraft hull and liability, cargo operations liability, pollution and environmental liabilities, products and finished operations, property and ocean cargo coverage, and more are all included in Wing’s insurance for commercial clients. In contrast to some rivals, Wing offers workers’ compensation and life insurance, making them a more attractive option for businesses searching for a comprehensive insurance provider. Wings is committed to finding the finest coverage for its clients in the United States and worldwide, and they take pleasure in its unique underwriting process. Since this is the case, online instant quotes are not currently available. Luckily, Wings representatives are responsive and familiar with commercial aviation policyholders’ demands.
One of the largest aviation insurance companies in the United States is AssuredPartners (AOPA). Renters insurance is now available for instant online purchase and binding. For airplane rental insurance, we recommend AssuredPartners due to their competitive pricing. Standard renters liability insurance from AssuredPartner costs just $81, and you can buy additional coverage for just $175 a year. To get coverage above and above what the aircraft owner’s policy provides, you can pay less than $7 monthly. To help reduce costs, AssuredPartners provides discounts to eligible policyholders. In the aviation insurance industry, AOPA members receive a 5% discount. If policyholders complete an entire year without filing a claim, they will be eligible for a 10% premium discount, accident forgiveness, and a deductible waiver.
Travel to BWI on a Flying BWI
BWI Fly is routinely ranked as one of the top airplane insurance providers due to their flexible pricing, top-notch customer service, and extensive selection of policies. The insurance responses provided by BWI can be tailored to meet the requirements of both people and businesses. Furthermore, they provide specialized insurance policies for aircraft owners, such as experimental planes, flying clubs, and private jets. For BWI general aviation, policyholders can pick from several different options for liability, ground, and flight, and not in motion insurance. BWI’s website makes it easy for most clients to get quotations and file claims online, and the quality of their customer service has regularly received high marks.
New and experienced pilots can benefit from this service provider’s extensive library of instructional materials. BWI Aviation Insurance offers standard plans for as little as $225 per year to provide a cost-effective alternative, providing liability-only coverage of up to $1 million. However, rates can vary greatly depending on factors like the type of coverage you require, your level of experience, and other typical factors, so it’s always best to shop around for a quote that fits your specific situation.
When preparing to take to the skies, a pilot’s first and foremost concern is always for everyone’s safety. To adequately reimburse you and your passengers in an emergency, you should deal with an aviation insurance firm and follow all needed aviation protocols and ensure your aircraft is up to code.