Insurance Cost guide

Private Jet Insurance:
What Owners Pay and Why

Aviation insurance is non-negotiable and more nuanced than auto or property insurance. Annual premiums for business jets typically ranges from $15,000 to $150,000+ depending on aircraft value and operation type.

Classifications

Coverage Types

hull coverage

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Liability coverage

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Most policies include both hull and liability coverage. Deductibles apply to hull claims and vary based on aircraft and operator.

Annual

Premium Ranges by Aircraft Type

aircraft category

typical hull value range (usd)

typical annual premium range* (usd)

light jet

$3M-$7M
$8,000-$15,000+

midsize jet

$3M-$7M
$8,000-$15,000+

super midsize jet

$3M-$7M
$8,000-$15,000+

heavy jet

$3M-$7M
$8,000-$15,000+

ultra long range jet

$3M-$7M
$8,000-$15,000+

Liability coverage is typically an add-on to hull coverage. Common limits: $1M, $2M, $5M, $10M, $20M+ per occurance.

* Premiums vary based on operator profile, usage, location, deductable and insurer. Ranges are approximate.

Storage Variables

Factors Affecting Your Premium

Pilot Experience & Currency

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Aircraft Age & Condition

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Operation Type

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Claims History

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Maintenance Program Status

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Pre-Requisites

Lender Requirements

If your aircraft is financed, your lender will require specific insurance terms. This typically includes:

Hull coverage on an agreed value basis (not actually cash value).
The lender names as mortgagee and additional insured.
Adequate liability limits based on aircraft size and operation.
Proof of insurance and notice of cancellation provided to the lender.

Failed to maintain required coverage can be a default under your loan agreement.

Agreed value coverage ensures you are covered for the full value of your aircraft in the event of total loss.

Calculate your total ownership costs

Use our ownership cost calculator to get a personalized estimate based on your aircraft, mission and usage.

Ownership Cost Calculator

All cost estimates are approximate and for information purpose only