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How to Lower Your Aircraft Insurance/Premium

Updated: Dec 22, 2018

An old adage points out that Insurance is expensive until you need it. Many might deny this, but this fits perfectly well. One group that would hope for their premiums to decrease is that of aircraft owners. To understand how to reduce your premium, it is imperative for us to first understand insurance itself. Regardless of whether you are insuring an auto, a home, a boat, an aircraft or a business, insurance is basically a form of risk reduction. Aviation Marine Insurance Inc. is one of those companies out there that is always willing to provide each and every customer with comprehensive premiums that allow them to spend more time in the air while reducing the fixed operation cost of insurance.

So, it should be of no surprise to you that the price of your insurance depends on the risk that is on offer. Lower risk will mean lower rates and a lower premium. This information can be interpreted by pilots and aircraft owners to their own advantage. Here we will mention a few methods you can implement to ensure that your insurance premium remains low.

#1 Train Hard

Most insurance companies look for multi-engine and high performance aircraft pilots to have recurrent training to maintain a consistent insurance coverage. Even if you cannot take part in strenuous recurrent training drills, flight training can also lower the risk. And lowered risk equates to reduced rates. Before committing to a training program, it is beneficial to have a word with your insurance provider. Insurance providers only accept a few approved and listed training companies. Thus, participating in a renowned training program will fit the bill here.

#2 Add Ratings

Additional ratings can often increase your chances of getting a lower premium. Getting an instrument airplane rating, where you can learn to operate an aircraft when vision is restricted due to darkness, clouds or whether, is really work the effort and time. Not only do these additional trainings enhance your control in the cockpit, but also end up promising a lower premium.

#3 Increase Your Flight Time

Total flight hours are considered as the number one factor determining the rates of your premium. This is so because flight time is often considered by most insurers as the sole indicator towards your experience as a pilot. One study has even found out that having more than 5,000 flight hours can reduce a pilot’s risk of a crash by more than 50%. The bottom line is, the more you fly the lower will be your insurance rate.

#4 Join a Flying Club

Joining a Flying Club may not be a bad idea, since they are host to exclusive discounts from insurance companies. They charge an annual member ship fee for providing access to the club’s fleet for interested aircraft owners and pilots. The packages they offer are often attractive and worth trying out. This is not all, as you can benefit from a reduced premium that flying clubs have decided for their members after talks with an aircraft insurance provider.

Given these quick tips, I really hope that you found this information valuable and could make use of the same. If you're like to see more articles like these, please feel free to drop me a line on the comments below and I'll make sure to answer each and every request accordingly.

Pay less and FlyOn!



Aviation Marine Insurance Services Inc.

+1 (800) 972 0907


Oakland, CA


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