Aircraft Insurance
Comprehensive coverage for private aircraft owners and pilots—protecting your plane, your passengers, and your financial future in the air and on the ground.
Protect Your Aircraft Investment
Get comprehensive coverage tailored to your aircraft and flying habits.
Aviation Accidents Can Be Financially Devastating
Even minor aviation incidents can result in significant costs. A gear-up landing can easily exceed $50,000 in repairs. A fatal accident can result in wrongful death claims in the millions. Unlike auto insurance, aircraft insurance is not legally required—but flying without it exposes you to potentially catastrophic financial consequences.
What Is Aircraft Insurance?
Aircraft insurance provides protection for aircraft owners and pilots against financial losses from accidents, incidents, and liability claims. Unlike auto insurance, it's not legally required in most cases—but most airports, FBOs, lenders, and flying clubs require proof of coverage.
Aviation insurance is specialized coverage offered by insurers who understand the unique risks of flying. Policies are tailored based on the aircraft type, pilot experience, intended use, and geographic area of operation.
A typical aircraft policy combines two main components: hull coverage (physical damage to your aircraft) and liability coverage (protection against third-party claims). Additional coverages like medical payments, search and rescue, and personal effects are also available.
Aircraft We Insure
- •Single-engine piston planes
- •Multi-engine piston aircraft
- •Turboprops
- •Light jets
- •Helicopters
- •Homebuilt/experimental aircraft
- •Vintage/warbirds
- •Seaplanes and amphibians
Aircraft Insurance Coverage Components
Build comprehensive protection with these coverage options:
Hull Coverage (Physical Damage)
Covers damage to your aircraft from accidents, weather, theft, and vandalism. Options include "in motion" (all-risk) or "not in motion" (ground only). Pays agreed value or actual cash value.
Liability Coverage
Protects against bodily injury and property damage claims from third parties. Includes coverage for people on the ground, damage to other aircraft, and property damage. Essential protection.
Passenger Liability
Covers injuries to passengers in your aircraft. This can be included in your overall liability limit or broken out as a separate per-seat limit. Higher limits recommended for frequent passenger flying.
Medical Payments
Pays medical expenses for you and passengers injured in your aircraft, regardless of fault. Typically $1,000-$10,000 per person. Supplements health insurance coverage.
Non-Owned Aircraft
Liability coverage when you rent or borrow aircraft. Also called "renter's insurance." Protects against subrogation claims from the owner's insurer. Essential for student pilots and renters.
Search & Rescue / Emergency
Covers expenses related to search and rescue operations and emergency services if you're involved in an incident in a remote area. Often $5,000-$25,000.
What Aircraft Insurance Covers—and Common Exclusions
Typically Covered
- Accident Damage
Damage from hard landings, gear-ups, ground loops, and other accidents.
- Weather Damage
Hail, wind, lightning, and storm damage while parked or in flight.
- Theft & Vandalism
Theft of the aircraft, avionics, or components, plus vandalism damage.
- Third-Party Liability
Injuries to people on the ground and damage to other property.
- Passenger Injuries
Claims from passengers injured in your aircraft.
- Hangar Fire
Fire damage to your aircraft while stored in a hangar.
Common Exclusions
- Mechanical Breakdown
Engine failure or component failure from wear, not accidents.
- Unlisted Pilots
Damage or liability when flown by pilots not listed on the policy.
- Illegal Operations
Flying without proper certification or in violation of FARs.
- War & Terrorism
Damage from acts of war, hijacking, or terrorism (separate coverage available).
- Commercial Operations
Using a pleasure-use policy for charter, instruction, or freight.
- Known Defects
Flying with known deficiencies or overdue maintenance/inspections.
New Pilot or Experienced Aviator?
We work with specialized aviation insurers to find the right coverage for your experience level.
What Affects Aircraft Insurance Costs?
Aviation insurance premiums are highly individualized based on these factors:
Factors That Increase Premiums
- ↑Low pilot experience (total hours, time in type)
- ↑High-performance or complex aircraft
- ↑Higher aircraft value
- ↑More annual flight hours
- ↑Tie-down vs. hangar storage
- ↑Prior claims or accidents
- ↑Multiple pilots on policy
Ways to Reduce Premiums
- ↓Build flight hours and time-in-type
- ↓Complete additional training (instrument, type ratings)
- ↓Hangar your aircraft
- ↓Higher deductibles (hull coverage)
- ↓Ground-only hull coverage (if applicable)
- ↓Maintain claims-free history
- ↓Pay annually vs. monthly
Pilot Qualification Requirements
Aviation insurers require specific minimum qualifications for pilots flying your aircraft. Understanding these helps you get appropriate coverage:
Open Pilot Warranty
Allows any qualified pilot to fly your aircraft as long as they meet minimum requirements specified in the policy:
- •Minimum total flight hours
- •Minimum hours in aircraft type
- •Required ratings (instrument, complex)
- •Current BFR/IPC requirements
Named Pilot Policy
Only specifically named pilots are covered. Each pilot must be individually underwritten:
- •Each pilot's experience reviewed
- •Adding pilots requires notification
- •May allow lower overall minimums
- •Common for sole-owner aircraft
Frequently Asked Questions About Aircraft Insurance
What does aircraft hull insurance cover?
Hull insurance covers physical damage to your aircraft from accidents, weather, theft, vandalism, and other perils. You can choose between "ground and flight" coverage (all-risk) or "not in motion" coverage (ground only). Hull coverage typically pays agreed value or actual cash value depending on the policy.
What is aviation liability insurance?
Aviation liability insurance protects you against claims from third parties for bodily injury or property damage caused by your aircraft. This includes injuries to passengers (passenger liability), people on the ground, and damage to other property. It also covers your legal defense costs.
Do I need aircraft insurance to fly?
Unlike auto insurance, aircraft insurance is not legally required for private pilots in the U.S. However, it is strongly recommended. FBOs, airports, lenders, and aircraft rental companies typically require proof of insurance. Flying without insurance exposes you to catastrophic financial risk.
What factors affect aircraft insurance premiums?
Key factors include pilot experience (total hours, hours in type), aircraft type and value, annual flight hours, geographic area, hangar vs. tie-down storage, and claims history. Training and certifications (instrument rating, type ratings) can also reduce premiums.
Does aircraft insurance cover renter pilots?
Non-owned aircraft insurance (renter's insurance) provides liability coverage when you rent or borrow aircraft. It does not cover damage to the aircraft itself—that's the owner's responsibility. However, it protects you if the owner's insurer surogates against you for a claim.
Related Coverage Options
Complete your protection with these related coverages:
Boat Insurance
Coverage for recreational watercraft and liability.
Collectibles Insurance
Protection for valuable aviation memorabilia and collections.
Personal Umbrella
Extra liability protection beyond your aviation policy.
Homeowners Insurance
Protect your home, including hangar structures on your property.
Important Information
This information is provided for educational purposes only and does not constitute insurance advice. Aircraft insurance coverage features, exclusions, and availability may vary by state and insurance carrier.
All coverage is subject to policy terms, conditions, and exclusions. Please review your policy carefully and consult with a licensed insurance professional to determine appropriate coverage for your specific aircraft and flying activities.
The Steele Agency is licensed to conduct business in New York State. License information available upon request or at the New York Department of Financial Services website.
Fly with Confidence
Protect your aircraft investment and your financial future with comprehensive coverage from aviation insurance specialists.
Our Aircraft Insurance Services Include:
- ✓ Coverage from specialized aviation insurers
- ✓ Hull and liability protection for all aircraft types
- ✓ Policies tailored to your experience level
- ✓ Non-owned aircraft coverage for renters
- ✓ Help understanding pilot warranty requirements
Serving New York pilots since 1969 • Free quotes • Expert guidance
