Aviation Insurance

Aviation insurance covers damage to airplanes, helicopters and other aircraft. The policy also provides cover for property damage and losses caused by the operation and maintenance of aviation equipment. The amount of cover, type of cover and inclusions will depend on your policy.

Aviation insurance is designed to cover the specific risks associated with flying.

As with any insurance, a premium is paid in exchange for an agreed level of cover. The premium is calculated based on a number of factors that influence the potential risks, including:

• Aircraft type and model
• Pilot history, age, and experience
• Aircraft usage - private, for business or commercial and how many utilisation hours
• Type and frequency of pilot training
• Aircraft activity - on the ground, taxing or in-flight
• Claims history
  
  

You can choose different levels of cover, from aircraft hull flight risks insurance through to aircraft and aviation liability only insurance. Policies can involve aircraft, pilots, passenger, hangars and more. Government taxes and government mandated insurance guidelines also need to be considered.

An aviation insurance quote will depend on the complexity of the risk involved, although we aim to provide same day service on single aircraft quotes, once we receive the required information from your broker. For larger fleets or complex risks, it may take a few days.

All aviation insurance policies are reviewed case by case by our experienced underwriting team; specifics such as pilot experience, aircraft, uses, and cover required will affect the rating of every risk. There will also be government taxes and duties that may be applicable such as GST and Stamp Duty that need to be considered.

Aviation insurance is required for airline operators and manufacturers, as well as for private aircraft owners. Airports and airport service providers typically carry this insurance to protect their operations and employees.

In Australia, liability insurance is mandatory for commercial aircraft operators carrying passengers for hire or reward, but it's highly recommended for all aircraft owners and operators to protect against potential hull damage and passenger, baggage and third-party liability exposures.

Aerospace insurance provides cover for aviation premises (such as a maintenance organisation’s hangar, third party aircraft stored, or test flown (if agreed by underwriters) and aviation products liability for manufacturers or sellers. It covers off third party liability and injury risks that come with the storage, movement and maintenance of aircraft, as well as aviation manufacturer’s risks.

The price of insurance for a Cessna, or any type of aircraft, depends on various underwriting information, such as:

• Aircraft Value: Higher value aircraft typically have higher premiums, and older lower value aircraft may attract a different rate to a brand new one.
• Use: Commercial uses generally incur higher premiums than purely private use.
• Pilot Experience: Experienced pilots may qualify for lower rates or better coverage conditions.
• Coverage Level: The amount of coverage you choose (e.g., hull value, liability limits) directly impacts the premium.