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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.
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Hull coverage helps protect the insured value of the aircraft against covered physical damage or total loss. Coverage is typically based on an agreed value and may include a deductible that varies depending on the aircraft, operator, and policy terms.
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Liability coverage helps protect the owner or operator against certain third-party claims arising from aircraft operations. Appropriate limits depend on the aircraft, passenger capacity, intended use, operating environment, and overall risk profile.
Most aircraft insurance policies combine hull and liability coverage. Hull deductibles and policy terms vary based on the aircraft, operator, intended use, and insurer.
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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.
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Failure to maintain required coverage may result in a breach or default under the financing agreement.
Agreed value coverage establishes the insured value of the aircraft at the start of the policy, subject to the terms, conditions, and exclusions of the insurance agreement. This can provide greater clarity about the amount payable in the event of a covered total loss.
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Insurance is only one part of the total cost of aircraft ownership. Use our Ownership Cost Calculator to estimate how insurance, fuel, crew, maintenance, hangar, and other operating expenses can contribute to your annual aircraft budget.
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All cost estimates are approximate and for information purpose only
