Best Aircraft Insurance Companies

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The Rundown

Aircraft insurance provides liability and property coverage for everything from standard and experimental aircraft to vintage aircrafts and seaplanes. Also known as aviation insurance, private aircraft insurance isn't required by state or federal law; however, fixed-base operators (FBOs), lenders, and private airports may require it. While there are a large number of providers on the market, the best aircraft insurance companies offer policyholders broad coverage options and robust customer support.

To help you navigate the often confusing world of aircraft insurance, we rounded up the best aircraft insurance companies.

Best Overall: BWI Aviation Insurance

BWI Aviation Insurance

BWI Aviation Insurance

Why We Chose It: BWI excels in the aviation insurance space because of its broad range of coverage options, top-rated underwriters, and user-friendly online tools and resources.

What We Like
  • Offers a wide range of coverage options

  • Customers can get a quote online or via phone

  • Policyholders can report claims online

What We Don’t Like
  • Website is a bit outdated and difficult to navigate

Founded in August of 1977, BWI Aviation Insurance offers competitive rates and a wide selection of coverage options that are underwritten by top-rated insurance companies.

Coverage is available for everything from general aviation and renter’s insurance to charter, flight school, and commercial drone insurance. With its broad range of options, BWI helps potential customers choose the type of coverage they need and then directs them to an underwriter that can meet those unique needs. 

Like many of the other best aircraft insurance providers, BWI also lets policyholders manage their policies and file claims (all online). What’s more, reviews are generally positive. Current and former customers report that coverage is satisfactory and prices are often lower than those available through Avemco and other alternatives.

Best for General Aviation: Avemco Insurance Company

Avemco Insurance Company

Avemco Insurance Company

Why We Chose It: Avemco is our top choice for general aviation insurance because of the company’s high AM Best (credit company) rating, extensive online tools and resources, and broad coverage options.

What We Like
  • Avemco is the only direct writer of aircraft insurance

  • Customers can manage their policy, pay premium, and report claims online

  • Stellar rating from AM Best

What We Don’t Like
  • Does not offer international coverage beyond Mexico

Avemco is an aviation insurance company licensed in all 50 states, plus the District of Columbia. Coverage options are extensive and include owner insurance, homebuilt, experimental, and kit-built coverage.

Customers can also choose from aircraft trader coverage for buying and selling aircraft on a limited basis and Mexico liability insurance for those flying in and out of Mexico. Additional Avemco offerings include aircraft renter insurance, flying club insurance, and various types of Certified Flight Instructor (CFI) coverage.

Beyond Avemco’s extensive general aviation coverage, the company’s online quote tool makes it easy to choose the type of coverage you need. Current policyholders can file claims, manage their policy, and make payments online. Alternatively, claims can be reported by phone or email, including via a special emergency line.

Best for Renters: Travers & Associates Aviation Insurance Agency, LLC

Travers & Associates Aviation Insurance Agency, LLC

Travers & Associates Aviation Insurance Agency, LLC

Why We Chose It: Travers & Associates stands out because of the agency’s instant quote option, customizable coverage, and easy claims reporting.

What We Like
  • Prospective customers can get an instant quote online

  • Coverage is customizable and premiums are transparent

  • Claims can be reported through the online platform

What We Don’t Like
  • Somewhat outdated online quote tool

Travers & Associates Aviation Insurance Agency, LLC is an aviation-specific agency that offers rental insurance (also known as Not Owned coverage) for single-engine, multi-engine, and rotor-wing aircraft.

Policies are available for aircraft with a standard airworthiness certificate, experimental aircraft, and light-sport aircraft. Generally speaking, rental coverage includes aircraft liability insurance, aircraft physical damage, and medical payments coverage.

Policyholders can access a number of savings opportunities, including claims-free discounts, Master CFI discounts, and special offers for members of the Society of Aviation and Flight Educators (SAFE). The online quote interface is somewhat outdated in appearance but it’s easy to enter details about what you need.

Travers then instantly provides several coverage packages or shoppers can use the dashboard to totally customize coverage limits and view relevant costs.

Best for Specialized Aircraft: Falcon Insurance Agency

Falcon Insurance Agency

Falcon Insurance Agency

Why We Chose It: We chose Falcon Insurance as the top option for insuring specialized aircraft because of the agency’s relationship with the Experimental Aircraft Association.

What We Like
  • Coverage available for specialized craft like warbirds, vintage aircraft, and seaplanes

  • Partnered with the Experimental Aircraft Association to provide member benefits

  • Fully licensed in all 50 states

What We Don’t Like
  • Online quotes are not available

One of the largest aviation insurance agencies in the country, Falcon Insurance is licensed in all 50 states, plus Puerto Rico and the District of Columbia.

The agency offers extensive coverage options including policies for specialized aircraft like helicopters, agricultural planes, unmanned aerial vehicles, and seaplanes. Falcon Insurance is also partnered with the Experimental Aircraft Association (EAA), so members can get policies and discounts for warbirds, vintage planes, experimental craft, and other one-of-a-kind aircraft. 

Unlike other top providers on our list, prospective clients can’t get an instant quote online. Instead, those interested in a Falcon policy must fill out a quote request and an agent will contact them with a personalized quote.

While this is less convenient than an instant quote, it does ensure that each client receives custom attention tailored to their exact insurance needs. Though some customer reviews reflect poor customer service experience, it’s worth noting that many negative reviews are actually for another insurance company with a similar name.

Best for Drones: SkyWatch.AI

SkyWatch.AI

SkyWatch.AI

Why We Chose It: SkyWatch.AI’s accessible price point and flexible hourly, monthly, and yearly policy options make it our top pick for drone insurance.

What We Like
  • Drone operators can choose from yearly, monthly, or hourly plans

  • Liability limits range from about $500,000 to $5,000,000

  • Low cost of coverage

What We Don’t Like
  • Insurance products are not available in New York or Kentucky

SkyWatch.AI is an insurance mobile app that offers highly customizable drone insurance options through Starr Insurance Companies, which has a top-tier AM Best rating. Bodily injury and property damage liability coverage is available from about $500,000 to $5,000,000; personal injury coverage goes up to roughly $100,000; and medical coverage is available up to around $5,000. 

Policyholders can choose from three major coverage options. For customers who need project-specific drone insurance, SkyWatch.AI offers hourly, on-demand coverage that starts at about $7 per flight and provides instant coverage.

Monthly policies are also available and range from roughly $42 to $208 per month; coverage can be modified on a monthly basis. Comprehensive plans are available for drone professionals who need year-round coverage starting at approximately $500 per year.

To find the right fit, prospective clients can take advantage of SkyWatch.AI’s online quoting tool or mobile app. Not only is the tool extremely user friendly, it makes it easy to add additional insureds, multiple drones and equipment, and specific coverage options—like for indoor flights.

Final Verdict

While you may not need aircraft insurance under certain circumstances, coverage is still an important part of owning or renting a plane or other aircraft. Even drone operators can benefit from aircraft insurance to protect them from the threat of third-party liability claims. 

Our best overall aircraft insurance provider overall—BWI Aviation Insurance—offers a range of coverage options, including general aviation, experimental, drones, charters, and seaplanes. The platform also makes it easy to connect with an experienced specialist with one of the company’s top-rated underwriters. 

What Does Aircraft Insurance Cover?

Aircraft insurance coverage varies by policy, but can range from a standard liability-only policy to more extensive coverage. For example, aircraft hull insurance covers any physical damage sustained to the aircraft while it’s on the ground, and in-flight insurance covers damage sustained when the aircraft is in motion. If you plan to travel abroad, you will also need a policy that covers international liability. 

How Much Does Aircraft Insurance Cost?

The cost of aircraft insurance depends largely on the type of coverage, coverage limits, and the category and size of the aircraft. Insurance costs are also impacted by the pilot’s training and flying history and the number of passengers the insured aircraft holds. In general, though, insurance for a small aircraft is roughly $1,200 per year. 

Is Aircraft Insurance Required?

Aircraft insurance is not required by state or federal law. However, FBOs (fixed-base operators) typically require aircraft using their facilities to have at least minimum coverage. Likewise, if you plan to use a private airport or finance your aircraft, insurance may also be required. This may include public liability insurance and passenger liability insurance (collectively known as combined single limit insurance), aircraft hull insurance, or aircraft rental insurance for those who don’t own the aircraft in question. 

How We Chose the Best Aircraft Insurance

To select the best aircraft insurance, we reviewed 15 providers based on factors like coverage offerings, policy limits, AM Best ratings, and customer reviews. Where available, we compared the average cost of various policies and evaluated each option’s online quoting tool. Finally, to ensure policyholders get the support and resources they need, we compared the availability of customer service representatives and each insurers' claims reporting process. 

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