Airplane insurance can safeguard against the unique risks associated with aircraft ownership and operation. Just as car owners carry auto insurance, airplane owners and operators must secure insurance coverage to protect themselves, their assets and third parties in case of accidents, damage or liability. Understanding the intricacies of airplane insurance is crucial for those involved in aviation, whether they are private pilots, commercial operators or aviation enthusiasts.
What Kind of Insurance Do You Need for a Plane?
The following are some types of insurance you might need for owning and operating a plane:
- Airplane hull insurance can protect from physical damage to the aircraft itself. It can cover damage or loss due to accidents, theft, vandalism and other specified perils.
- Airplane liability insurance can cover bodily injury or property damage that you or your aircraft may cause to others while operating the plane. Aircraft liability insurance can include coverage for passengers, pedestrians or other third parties.
- Passenger liability insurance can cover bodily injury or property damage claims that passengers may file against you or the aircraft’s owner.
- Hangar keepers insurance, typically retained by a hangar, can protect the aircraft if damaged while in the hangar owner’s care, custody or control.
- Medical payment coverage can cover medical expenses resulting from injuries sustained by passengers or crew while on board the aircraft.
- Non-owned aircraft insurance can protect you if you’re held liable for an accident or damage while operating someone else’s aircraft.
- Avionics and equipment coverage can cover the avionics and specialized equipment installed in the aircraft, such as radios, navigation systems and other onboard electronics.
- Personal injury liability can protect you from lawsuits related to personal injury claims that may arise from aviation-related activities.
The specific insurance requirements and options may vary based on the type of aircraft you own or operate, its intended use (e.g., private, commercial, cargo or passenger transport) and local regulations.
How Much Is Airplane Insurance?
The following are some of the factors that influence the cost of airplane insurance:
- Make, model, and age of the aircraft
- Intended use
- Pilot experience
- Coverage limits
- Geographical location
- Claims history
- Security measures
To get an accurate aircraft insurance quote, work with an insurance broker or agent who can assess your situation.
How to Get Airplane Insurance
Contact The Bush Agency to discuss your aircraft insurance options. We proudly serve Savannah, Pooler, Garden City, Bloomingdale, Tybee Island, Pt. Wentworth, Rincon, Richmond Hill, Hinesville, Sandersville and the surrounding cities in Chatham County, Georgia. We can make policy recommendations based on your specific insurance needs.