Insured Aircraft - BWI's policy solutions can accommodate both personal and commercial needs. It also offers a slew of niche or specialty policies designed for specific types of aircraft and aircraft owners, including experimental aircraft, seaplanes, flying clubs, commercial drones, private jets, and aircraft charters.
Coverage varies by policy and policyholder preferences, but most BWI general aviation coverage options include liability, aircraft hull, ground, and flight, not in flight, and not in motion insurance. To get a free quote, you'll need to fill out a form and wait for contact from an insurance agent.
Insured Aircraft
Falcon Insurance is a top choice because of over 40 years of experience insuring pilots only. Insurance coverage refers to the percentage that the insurance company will cover in the event of a claim. For example, an insurance policy that does not include full coverage will only pay a portion of the expenses involved in an accident.
The Amount Of Coverage
You may be wondering if you could "misremember" details about your FAA record, experience level, or details about your aircraft to reduce your insurance premium. While you may feel that some of the parameters included in your insurance premium calculation may be unfair, failing to disclose information, or providing false information, constitutes insurance fraud - A severe crime.
Aircraft insurance companies are far more likely to increase your insurance premium if you submit a claim. If your aircraft is involved in a minor, relatively low-cost incident, you may want to pay for the damage out of pocket - especially if the damage was your fault.
Storing your aircraft in a hangar protects it from the outside elements, such as weather, vandalism, and potential damage from movement on the apron. In addition, renting or buying space in a hanger will reduce maintenance costs.
In-flight insurance is a comprehensive policy that protects the aircraft at all stages of use. Contrary to its name, most in-flight insurance policies do not limit coverage to accidents that occur during flight, and also provide coverage for incidents that occur when the plane takes off, is parked or stored.
A Note On Honesty
In-flight insurance is the most expensive type of aviation insurance available because the most expensive damage done to most aircraft occurs during flight. If your FAA medical certificate has ever been revoked or had to go under review, this will play a factor in calculating your insurance costs.
Insurance companies view a spotty medical history as a risk factor. Unfortunately, there is not much you can do about this other than keep yourself healthy. EAA has secured several zero deductible coverage options, as well as expanded coverage for handheld avionics for EAA members.
And as an added bonus, most EAA members are eligible to receive other special enhancements at no extra cost: Something you do you have more control over, however, is your flying record. If you have any accidents or incidents on your FAA Record, or your license was ever revoked or suspended, aircraft insurance companies may be led to believe that you are a higher-risk pilot.
As a general rule of thumb, aviation experts recommend that most hobby pilots choose a policy that includes coverage for at least $1 million per occurrence for property damage and at least $100,000 per occurrence for passenger injuries.
Renter’s Insurance
Ground hull insurance in motion is similar to ground hull insurance not in motion but covers the period in which the plane is moving but not in flight. This type of insurance covers the aircraft when it's taxiing but does not provide coverage for when the plane takes off, lands or flies.
BWI Fly is a company that puts clients first and makes getting in contact easy. You can talk to a representative from 6AM-4:30PM Monday through Thursday and 6AM-4PM on Fridays. If something happens to your aircraft outside of those hours, they also have a dedicated emergency line to solve any problems.
Avemco's flying club insurance policies provide up to $1 million in property damage coverage and $100,000 per person for bodily injury. Each policy is custom designed to account for the unique needs of each group, which alleviates the constraints that often accompany a one-size-fits-all approach to insurance.
Another insurance provider that specializes in aviation insurance, Wings Insurance has over 30 years of experience serving and protecting pilots. Wings Insurance works directly with aviation underwriters and assists pilots in getting the coverage they need at the lowest possible price.
International Liability
Furthermore, the more hours you have with the model and type of aircraft you intend to insure, the lower your insurance premiums will be. For example, if the majority of your hours have been logged in a Cessna 172, your insurance premium will be lower if the aircraft you are trying to insure is a Cessna 172, compared to an aircraft such as a multi-engine Piper.
Wings Insurance's policies may be especially useful for commercial pilots. Its team not only assists business owners in insuring their aircraft, but they're also one of the few aviation experts to also offer workers compensation insurance as well.
Equipped to serve you if you're a hobby pilot and if you're a pilot who needs to insure his team of aviation experts as well, Wings Insurance is an especially adept aviation insurance provider. Unlike home or auto insurance, there are no state or federal aircraft insurance requirements.
However, it's wise to have enough coverage to cover the cost of your aircraft and any resulting costs associated with an accident, including property damage, passenger injury, and damage to the aircraft. Private aircraft insurance costs vary greatly, with premiums ranging from just under $100 to hundreds or even thousands of dollars a year.
Crew Coverage
It is difficult to state an average for airplane insurance because your individualized rate will depend on multiple factors. These include the type of aircraft to be insured, intended use, the number of passengers (if any) it holds, your flight history (or anyone listed on the policy), and the type of coverage you choose, including its limits and deductibles.
AssuredPartners also offers discounts to eligible policyholders that can make coverage even more affordable. AOPA members, for instance, can save 5% on an aviation policy. Policyholders can also save even more when they go a year without a claim, which entitles them to a 10% claims-free flying record discount as well as an accident forgiveness and deductible waiver.
Daily, weekly, monthly and annual coverage is available for aircraft renters, and you can modify as you go, which is especially helpful if you're learning to fly and must increase your hours in the cockpit over time - or when you stop flying in
the off-season. With partnerships with some of the top names in aviation insurance (like Allianz and Global Aerospace Insurance) and insurance for pilots of all skill levels, Travers and Associates makes getting insurance and a free quote convenient and easy.
Join An Association
Passenger liability insurance provides compensation if passengers on your aircraft are injured or killed during a flight. Passenger liability insurance is usually sold on a per seat basis and depends on how many passengers your aircraft can hold.
An aircraft owner's insurance policy, such as those purchased by rental facilities or flight schools, will not cover damage you may cause when renting an aircraft from them, and you will therefore be liable for any costs associated with an accident.
Travers and Associates is an aviation insurance agency that has been insuring pilots for over 50 years. Another aviation insurance broker, Travers and Associates can assist you in meeting your state's minimum insurance requirements. Travers and Associates even provides property and hangar insurance, which can be essential for pilots who own a flight school or multiple hobby planes and need improved ground protection.
Wings has been specializing in aviation insurance since 1984, and today it offers global insurance solutions through a network of providers. All policies are curated to fit each client's specific usage, coverage, and financial needs, making Wings our top choice for commercial aviation policies.
Hangar Insurance
The Experimental Aircraft Association provides a wealth of resources for aviation hobbyists across the nation, including insurance options. It offers specific aircraft policies that are designed to accommodate the unique needs of hobbyists who like to restore, repair, and fly classic planes.
This type of insurance provides coverage and protection for aircraft damaged when not in flight. For example, most ground risk hull insurance not in motion policies would cover damage from a hangar fire, hurricane, wind, theft or vandalism.
Most ground risk hull insurance includes a small deductible to discourage non-essential claims. Skywatch.ai is a rising star for aviation enthusiasts that offers both aircraft owners and renters insurance. This "A" rated firm offers the most flexible aviation insurance in the US that helps cut costs for pilots across the country.
Falcon Insurance's motto is, "If it flies, Falcon insures it," and its insurance offerings certainly live up to its corporate claims. Falcon Insurance provides pilots with one of the most diverse insurance offering lists. It's one of the few aviation insurance providers to service seaplanes and vintage aircraft, and it also offers drone and UAV insurance as well.
Increase Your Hours
You can buy pilot life insurance through its website for one convenient low rate alongside insurance for your personal or commercial aircraft. Some insurance companies require you to undergo specific flight training to be eligible for an aircraft insurance premium.
Make sure to inquire about any additional flight training requirements or any flight training programs that might reduce your insurance premium. Policyholders can also take advantage of several discount opportunities, including discounts for hangaring the club's aircraft and flying claim-free.
Members can also take advantage of Avemco's Safety Rewards discounts, which can reduce premiums by as much as 10% when pilots complete approved flight training. One of the primary benefits of an Avemco flying club policy is the ability for each club to work directly with an Avemco aviation insurance specialist to create a policy that is structured based on the unique needs of each club.
Avemco further empowers policyholders by allowing them to add and drop members at any time during the policy year without contacting Avemco directly or filing unnecessary paperwork. Avemco has been protecting pilots since 1961 by working directly with aviation insurance specialists to create customized coverage that fits each policyholder's needs.
Avoid Claims
Its competitive rates, customizable plans, and safety-based discounts make Avemco a great option for flying clubs. Keep your flight record as clean as possible, and be honest about any accidents or incidents you may have been involved in.
Accidents or incidents that were not your fault need to be explained to the insurance company.
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