Finding the best aircraft insurance in 2024 will no longer be a hassle, thanks to this article. If you have been working in the cockpit for years, then it is best if you purchase aircraft insurance. So, whatever happens, do not worry as long as your policy covers it.
For this purpose, your policy can protect you and your aircraft from various types of damages, vandalism, aviation accidents, and even weather-related problems. However, before we proceed, you can personalize your policy according to your coverage requirements, budget, needs, and possible circumstances.
What Does Aircraft Insurance Cover?
Aircraft insurance offers coverage to the policyholder by protecting against damage to or loss of aircraft. If you are leasing or renting aircraft equipment, your aircraft policy can cover you and make sure that you do not become financially unstable when anything happens. Other comprehensive coverage may be added to the damage caused to land-based property, airports, or hangars.
10 Best Aircraft Insurance in 2024
In this section, you are about to discover some of the best aircraft insurance in 2024. So, by the end of this blog post, you should be able to have some companies that you want to try. Now, let’s proceed:
- BWI Fly
- AssuredPartners Aerospace
- Traver and Associates Insurance
- Falcon Insurance
1. BWI Fly
BWI Fly is the first on our list of the best aircraft insurance companies in 2024. Not only is this aviation company the overall best, but it is also known for its affordable rates and best coverage options. BWI Fly also has a wide policy type and reliable customer service, making it the best place to purchase aircraft insurance.
One of the best aircraft insurance companies in 2024 is Avemco. Firstly, they have strong customer service and flexible policies. You can purchase a quote from them online by visiting their official website. What’s more, Avemco offers safety program completion discounts to clients. However, you cannot use this insurance company if your aircraft is multi-engine. Plus, commercial or corporate policies are not available.
When it comes to commercial aviation, Wings is known as the best. But there are also more reasons why it is among the best aircraft insurance options in 2024. Firstly, they have an extensive collection of commercial quotes and highly curated policies as well. However, they do not offer instant online quotes, and there is limited information about them online.
EAA is also one of the best aircraft insurance companies, with the best vintage aircraft insurance. Not only can you access their online chat conveniently, but you can also enjoy multi-aircraft discounts. However, the downside of this platform is that there are no online quotes available, and their websites only give access to limited policy information.
To be able to get aircraft insurance coverage, you need to be a USAA member, and their quotes can only be assessed by veterans. What’s more, USAA has competitive rates and offers personal, commercial, and non-owner policies. In addition to this, you can find coverage for most types of aircraft at USAA.
6. AssuredPartners Aerospace
For professionals who would like to rent an aircraft, AssuredPartners Aerospace is the platform to use. Unlike other policy providers, they have very competitively priced policies for personal and commercial needs. You can also get a renters insurance policy at AssuredPartners Aerospace for as low as $81 per year.
If you are searching for a company with affordable aviation insurance, you need to consider Skywatch. What’s more, if you are an enthusiast about flying, they offer the most flexible insurance in the United States, so all pilots across the country can enjoy the best coverage options at a good price.
8. Traver and Associates Insurance
This is one of the best aircraft insurances in 2024, especially for partnerships. Furthermore, Traver and Associates Insurance has been providing insurance for pilots for more than 50 years. They can also help you meet your state’s minimum insurance requirements. Apart from aircraft insurance, Traver and Associates offer property and hangar insurance.
9. Falcon Insurance
Falcon insurance is best for vintage aircraft and seaplanes. As its motto implies, “If it flies, Falcon insures it,” if you have seaplanes or vintage aircraft and need the best aviation insurance, Falcon has got you covered. Apart from this, they also provide UAV insurance as well as drone insurance. Moreover, you can apply for a quote on their official website.
AIG was founded in 1919, and its headquarters is situated in Atlanta, GA. Apart from this, they have provided aircraft insurance for more than 70 years. What’s more, AIG is the biggest aviation insurance company in the United States. They also have a wide range of policies for aviation professionals.
There you have it! The abovementioned are the best aviation insurance companies you should certainly try out in 2024. But before you purchase a quote, make sure that you have compared their coverage options and cost to see if it suits your needs.