11 Best Private Jet Insurance Companies

Owners and operators of private aircraft or other kinds of aircraft are covered by private jet insurance, a specialized form of insurance.

This insurance provides coverage for a variety of risks unique to private aviation, including physical damage to the aircraft, liability for personal injury or property damage caused by the aircraft, and coverage for costs related to occurrences like emergency landings, search & rescue missions, and the price of keeping an aircraft grounded for repairs.

Private jet insurance usually offers thorough protection that addresses both flight and ground risks. flying risks are incidents that happen during takeoff, flying, and landing, whereas ground risks are incidents that happen while the aircraft is being parked or being towed.

Some insurance plans might also cover accidents that happen while carrying out regular maintenance or repairs.

The type of aircraft, its intended use, and the owner’s unique risk profile can all be taken into account when creating a private jet insurance policy to suit the requirements of each owner and operator.

Due to the high value of the aircraft and the associated risks, private jet insurance premiums are usually more expensive than those for other kinds of insurance.

Best Private Jet Insurance Providers

Here, we will have a look at the 11 best private jet insurance providers in the USA.

1. AIG Aviation

Leading supplier of insurance products for the aircraft sector, AIG also offers private jet insurance. Private jet insurance is a kind of insurance product that offers protection for people or businesses who own or fly private aircraft.

Private jet insurance from AIG Aviation typically covers a broad variety of risks, including theft, cargo loss or damage, liability for third-party injuries, and accidental damage. The policy might also cover costs related to company interruption or the loss of aircraft use.

AIG Aviation provides a variety of insurance options for the aviation sector in addition to private jet insurance, including protection for commercial airlines, general aviation, airports, and aerospace makers. They are able to provide their customers with exceptional service and personalized solutions thanks to their expertise in the aviation sector.

2. Global Aerospace

Private planes and other aviation-related hazards are covered by Global Aerospace, an insurance provider. Private jet insurance is intended to shield pilots and owners of aircraft from monetary loss resulting from mishaps, theft, or other unforeseen circumstances.

Private jet owners can choose from a variety of insurance products from Global Aerospace, including hull and liability coverage, loss of use coverage, and workers’ compensation for the flight industry. Regardless of the size of their fleet, their policies are intended to offer complete security for private jet owners and operators.

To assist private jet owners in lowering the possibility of mishaps and other incidents, Global Aerospace additionally offers risk management and loss protection services. Safety audits, training courses, and accident inquiries are some of these services.

It’s crucial to have the appropriate insurance coverage in place if you own or manage a collection of private aircraft in order to safeguard your investment and your company. Global Aerospace is a well-known supplier of private aircraft insurance and can assist you in locating the protection you require.

3. Starr Aviation

Private jet owners and operators can get security from Starr Aviation, a specialist insurer. Their insurance plans are made to guard against a variety of risks, such as liability, bodily harm, and loss of use.

Jets, turboprops, and helicopters are just a few of the types of aircraft for which Starr Aviation provides service. They also provide coverage for companies involved in the aviation industry, including airports, maintenance and repair facilities, and aviation colleges.

Their policies usually include hull and liability coverage for physical harm to the aircraft as well as coverage for bodily injury and property damage liability. They might also provide coverage for lost use of the aircraft, personal belongings, and medical costs.

Starr Aviation is renowned for its knowledge of flight insurance and dedication to offering personalized coverage options to its customers. They collaborate closely with their clients to comprehend their particular requirements and create policies that are specifically designed to meet those needs.

4. United States Aircraft Insurance Group (USAIG)

One of the top suppliers of insurance products for the aircraft sector is United States Aircraft Insurance Group (USAIG), which also offers private jet insurance. As a specialized insurance provider, USAIG provides individualized protection for general aviation and private planes.

The usual range of risks covered by private jet insurance from USAIG includes physical damage to the aircraft, liability for third-party injuries or property damage, and loss of use as a result of damage or theft. Other optional protections like emergency medical evacuation, global coverage, and conflict risk coverage may also be included in the coverage.

Aviation insurance experts from USAIG work directly with customers to comprehend their particular needs and risks. They offer individualized guidance and assistance all the way through the insurance procedure, from the first consultation to claims management.

5. Avemco

Avemco Insurance Company is a provider of private jet insurance. They offer coverage for a variety of aircraft, including jets, turboprops, and helicopters. Avemco provides coverage for a range of risks, including liability, hull damage, and personal injury.

Avemco’s private jet insurance policies are tailored to meet the needs of individual aircraft owners and operators. They offer a range of coverage options, including liability-only policies, hull-only policies, and comprehensive coverage that includes both liability and hull protection.

In addition to insurance coverage, Avemco provides a range of risk management services to help aircraft owners and operators minimize their exposure to risk. These services include safety training programs, loss control assessments, and aviation safety resources.

6. QBE Aviation

Private aircraft are covered by the insurance company QBE Aviation. A variety of risks and liabilities connected to owning and running a private aircraft can be covered by private jet insurance, including theft, accidental damage, liability for injuries or property damage brought on by the aircraft, and more.

For both corporate flight departments and individual private jet owners and operators, QBE Aviation provides specialized insurance options. Small single-engine planes to big business jets are all included in their policies’ scope of coverage.

To assist owners and operators of private jets reduce their exposure to risk, QBE Aviation provides risk management and safety consulting services in addition to standard insurance coverage.

7. Old Republic Aerospace

Private jet insurance is one of the insurance options offered by Old Republic Aerospace for the airline industry. From tiny single-engine aircraft to big corporate jets, they provide coverage for a variety of aircraft types.

In most cases, private jet insurance covers physical damage to the aircraft, liability for injuries or property damage caused by the aircraft, and coverage for extra costs incurred as a result of the aircraft’s loss or damage.

Old Republic Aerospace provides specialized insurance plans that are created to specifically address the requirements of every single customer, taking into consideration elements like the type of aircraft, the frequency and purpose of use, and the degree of risk involved.

Along with private jet insurance, Old Republic Aerospace also offers insurance options for a variety of other aviation-related enterprises and endeavors, such as commercial airlines, airports, centers for aircraft maintenance and repair, and producers of aviation-related goods.

8. XL Catlin

XL Catlin is an insurance company that offers a range of insurance products, including private jet insurance.

In the event of mishaps, destruction, or other occurrences, private jet insurance protects both the aircraft and the people on board.

Private jet insurance plans from XL Catlin frequently cover liability, aircraft damage, passenger care costs, and other things. Depending on the particular policy and the requirements of the person or business possessing the private jet, the coverage choices and limits may change.

Private jet insurance plans from XL Catlin might also come with extra perks like risk management services, 24/7 customer assistance, and access to aviation experts.

9. Chubb Aviation

Chubb Aviation is a private jet insurance company that provides protection for owners, operators, and charter companies of aircraft. They offer a broad range of coverage options, such as coverage for loss of use, liability, and hull insurance.

The private jet insurance plans offered by Chubb Aviation are made to shield their customers from monetary loss in the event of an accident or other unforeseen situations. In addition to turboprops and large cabin jets, they also provide coverage for a range of other aircraft kinds, such as light jets and midsize jets.

The following are some of the main characteristics of Chubb Aviation’s private aircraft insurance policies:

Liability coverage shields the policyholder from claims for physical harm or property damage caused by their aircraft.
Hull coverage shields the aircraft from harm or loss caused by accidents, theft, or other covered events.
Loss of use coverage pays for the expense of renting a replacement aircraft if the insured aircraft is unavailable due to a covered loss.
Medical payments coverage: This protects passengers and crew members against medical costs incurred in the event of an accident.
Emergency evacuation coverage pays for the cost of evacuating passengers and staff in the event of an emergency.

10. Allianz Global Corporate & Specialty

Allianz Global Corporate & Specialty (AGCS) provides private jet insurance for a variety of risks that private jet owners and operators may encounter.

AGCS private jet insurance typically provides coverage for:

Liability insurance covers damage to other persons or property caused by an accident involving the insured private jet.

Physical Damage: The expense of repairing or replacing the insured private jet in the case of an accident or other covered events, such as theft or vandalism.

Personal Injury: This covers medical expenditures and other costs incurred as a result of injuries suffered by passengers or crew members aboard the insured private jet.

Additional Coverage Choices: Depending on the policy, additional coverage choices such as coverage for in-flight incidents, emergency landings, and more may be offered.

11. National Hangar Insurance Program (NHIP)

The National Hangar Insurance Program (NHIP) is a specialized insurance program that covers private jets and other aircraft kept in hangars. Certain insurance companies and brokers offer the program, which is usually tailored to suit the specific needs of private jet owners and operators.

Property damage to the aircraft, liability coverage for bodily harm or property damage caused by the aircraft, and coverage for loss of use of the aircraft are all common components of NHIP coverage.

Other risks, such as damage to hangars or other facilities used to store and repair the aircraft, may also be covered by the program.

The cost of NHIP coverage varies according to several variables, including the type and value of the aircraft, the pilot’s experience and safety record, and the location of the hangar.

Premiums can be relatively high, however, because the program is designed especially for private jets and other high-value aircraft.

Conclusion

If you are thinking about buying private jet insurance, do your research on various insurance providers, understand the coverage, determine the worth of your aircraft, consider your usage, and work with a reputable broker.

By taking these precautions and conducting your research, you can ensure that your private jet is properly insured and reduce the risks involved with owning and operating a high-value asset.