To decide what airplane insurance you need, list the losses you could face and the costs you can retain. Then review your legal and contractual duties alongside the terms available from insurers.
The right review depends on whether you own, rent, instruct or run a business. Start with your real flights and responsibilities.
List the losses you want to address
Think beyond the value of the airplane. An incident may involve damage to your aircraft, claims from other people and legal costs.
- Repair or replacement of the aircraft.
- Injury claims from passengers or other people.
- Damage to another aircraft, building or other property.
- Legal defense and related costs.
- Expenses during downtime.
Ask which parts of a proposed policy address each item. Check the limit, deductible and conditions for that part.
Choose hull and liability cover separately
Hull cover addresses physical damage to the insured aircraft. Liability cover can address claims for injury or damage to others. Review both when deciding which losses you can afford to retain.
Discuss the aircraft’s insured value and how a loss would be settled. For liability, check the total limit and any smaller passenger or per-person limits.
Check who and what is insured
Give the agent the legal owner, operator and all pilots. Explain any company, partnership, trust or shared ownership involved.
Read the pilot requirements and permitted uses. Ask about any instruction, rental, business travel or paid work. Tell your agent when those facts change.
Review your agreements
A lender, airport, hangar owner or rental provider may set insurance requirements. Obtain them in writing and ask the agent to review them.
For a guide to checking these obligations, read Is airplane insurance required?
Consider flying other aircraft
If you rent or borrow airplanes, review that activity separately. Read the rental agreement and ask what protection applies to you as the pilot.
Tell the agent about the aircraft types and any flight instruction you give. Review non-owned aircraft insurance for those needs.
Compare the risk you keep
Read exclusions and deductibles along with the premium. Ask how repair costs, legal expenses and other limits work in the offered policy.
Choose a deductible with the possible out-of-pocket cost in mind. Keep funds and plans for costs that the policy leaves with you.
Ask for a review before you fly
Bring BWI your aircraft details, pilot experience, current policy and plans. Include any purchase date, renewal deadline or trip that affects timing.
Start a quote or call 800-666-4359. Our team can help you compare the available cover and identify questions that need an answer.
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