How to Go About Insuring Your New Airplane

Adopt a strategy that ensures smooth skies in your recently acquired bird.

David Hampson

Thursday, May 01, 2025 at 08:00 AM ET

Verified

Edited By:

Ryan Ewing

With proper planning and a little time, getting insurance coverage for your airplane doesn't have to be stressful. [Adobe Stock]

Key Takeaways:

Engage a professional insurance broker early in the aircraft buying process to receive accurate quotes and personalized guidance, avoiding costly surprises from general estimates.
Obtain firm insurance quotes based on your specific pilot experience and the prospective aircraft to make informed purchasing decisions and properly budget for ownership costs.
Thoroughly understand all policy details, including pilot warranties and specific training requirements, as these are critical legal obligations that can impact coverage.
Ensure all policy information, such as the named insured and lienholders, is accurate from the start to prevent administrative issues and maintain a positive relationship with underwriters.

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The uncomfortable silence on the other end of the line was enough to tell me that I had just squashed all the joy and excitement from this soon-to-be turbine pilot by sharing the $60,000 quote we obtained for his new turboprop purchase. “But the sales rep told me the premium would only be $30,000-$35,000,” he finally retorted. Famous last words…

That premium may have been accurate for a well-qualified professional pilot flying this aircraft in a corporate environment but not in these circumstances. This client, while a respectable private pilot with nearly 1,000 hours and instrument rated, lacked retractable gear time and was transitioning from a single-engine piston. Compounding the issue, he was only two weeks away from closing when he sought an insurance quote, leading to a premium double his expectations.