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Aircraft Insurance: How to Keep Your Rates as Low as Possible

One way to get your insurance rates down? Fly more. [File Photo: Shutterstock]
Gemini Sparkle

Key Takeaways:

  • Personal aircraft owners are experiencing significant cost increases, with aviation insurance being a particularly painful spike due to insurers seeking greater profitability and pandemic-driven rate hikes.
  • Aviation insurance premiums have risen substantially since 2018, often regardless of an owner's loss history, as the industry aims to ensure claims do not outweigh premiums.
  • Pilots can proactively reduce their insurance costs by increasing flight hours, engaging in regular flight training, and acquiring additional pilot ratings or endorsements.
  • Joining aviation clubs and maintaining open, regular communication with their insurance agent are also effective strategies for managing and potentially lowering insurance rates.
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Flying has rarely been cheap, especially for individuals operating personal aircraft. However, taking to the sky as pilot in command is such a singular experience that most recreational aviators have no difficulty justifying the expense. Indeed, it seems that the more hours we log, the less we may feel obligated to justify it at all.

But even some of the most dedicated aircraft owners are feeling the squeeze these days, with the prices of so many things rising rapidly. Mainstream news covers increases in the cost of food, gasoline, new cars, used cars, and housing. To that list, pilots add hangar fees, avgas, spare parts, and the aircraft themselves, especially older, used models that were far more affordable just two or three years ago.

Jonathan Welsh

Jonathan Welsh is Lead Editor of Aviation Consumer and a private pilot who worked as a reporter, editor and columnist with the Wall Street Journal for 21 years, mostly covering the auto industry. His passion for aviation began in childhood with balsa-wood gliders his aunt would buy for him at the corner store. Follow Jonathan on Twitter @JonathanWelsh4

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