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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:

  • The cost of operating personal aircraft has significantly increased, with aviation insurance premiums seeing the most painful spikes, often rising 20-50% since 2018 due to market shifts and insurers prioritizing profitability.
  • These rising insurance rates impact even pilots with excellent loss histories, adding to other escalating expenses like hangar fees, fuel, and aircraft parts.
  • Pilots can actively work to reduce their insurance costs by flying more, engaging in regular training, acquiring additional ratings, joining aviation clubs, and maintaining open communication with their insurance agent.
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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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