Home » Corporate Aircraft Insurance

Corporate Aircraft Insurance

Industrial Aid (Business or Corporate Use). For company owned aircraft and private jets usually flown by a professional pilot and used for the transportation of executives, employees, and nonpaying guests of the company in furtherance of the company’s business interests and involves no direct charge or profit from such operation.

Coverage Highlights

  • Dual Pilot Fixed Wing Aircraft
  • Single Pilot Fixed Wing Aircraft
  • Helicopters
  • Professional Pilots
  • Flight department
  • Training Requirements

What Our Clients Are Saying...

These aircraft are larger than the average general aviation/ pleasure and business aircraft. Most are turboprop or turbojet powered rather than piston powered.

Underwriters will want to know the nature of the aircraft owners business and what their aircraft is being used for.

This includes details like:

  1. Where the aircraft is hangared
  2. Where they are usually flown
  3. How many flight hours per year
  4. Average passenger load

Corporate aircraft include aircraft such as Gulfstream, Bombardier Global and Challenger, and Dassualt Falcon (to name a few). These aircraft have professional pilots who are being hired and compensated for their pilot services.

Types of corporate / business aviation insurance we offer

Corporate aircraft insurance are rated by the hull value, liability limit, and the pilot’s experience. Depending on the value, age, and liability limit, there are ten (give or take a few) aviation insurance markets that will entertain insurance quotes on Industrial Aid corporate aviation insurance.

  • Dual Pilot rates for exceptional pilots – 0.35% t0 0.5% of hull value

  • Single Pilot rates for exceptional pilots – 0.7% to 0.9% of hull value

Liability Limit

Aircraft liability insurance provides protection against third party claims involving bodily injury and property damage. For a light Cessna, the lowest liability limit is $1,000,000 per occurrence, sub $100,000 per passenger. For corporate or commercial aircraft like the Gulfstream G700, it’s common to see liability limits at $300,000,000 per occurrence.

Named Pilots and Open Pilot Warranty

Most aircraft policies will have a list of Named Pilots and an Open Pilot Warranty. Underwriters expect a superior Industrial Aid risk to have a professional flight department. The ratings and experience of the “Chief Pilot”, co-pilots will be closely examined.

Ancillary Coverages

Is a list of additional coverage that is included in an aviation insurance policy. There is often no charge for these additional coverages. Most of the aviation insurance companies we have access to have separate and broad form aircraft policies for flight departments with corporate aircraft.

Premium

The premium for corporate aircraft insurance is often charged per year. Corporate aircraft insurance typically get more favorable rates when you look at it as a percentage of the hull value. For example, a $10,000,000 Embraer Legacy may see an annual premium of $35,000 to $50,000.

Certificates of Insurance

If a bank or leasing company is involved, they will have aviation insurance requirements for the aircraft. The financial institutions may want to be listed as Additionally Insured with a Breach of Warranty in their favor. Other common certificates of insurance are for hangar lease agreements, municipal airports, and Mexican or territory certificates.

Already have corporate aircraft insurance?

Aircraft insurance companies are constantly competing for the most favorable risks when it comes to corporate aviation insurance.

Questions to ask your current carrier:

  1. Is simulator training required and how often?

  2. Is in aircraft training approved for certain types of aircraft?

  3. Do you have a list of approved schools for each make and model aircraft?

  4. How much does it cost to do initial training?

  5. How can I estimate what my rates will be?

Find out what we can do for you

Our Partners

Aircraft We Cover

Airbus

Airbus

Avanti EVO

Avanti EVO

Beechcraft

Beechcraft

Beechcraft Bonanza & Baron

Beechcraft Bonanza & Baron

Bell

Bell

Bombardier Challenger

Bombardier Challenger

Bombardier Global

Bombardier Global

Cessna Caravan

Cessna Caravan

Cessna Citation

Cessna Citation

Cessna Conquest

Cessna Conquest

Cessna Single Engine Piston

Cessna Single Engine Piston

Cirrus

Cirrus

Daher

Daher

Dassault Falcon

Dassault Falcon

De Havilland Canada

De Havilland Canada

Diamond

Diamond

Embraer

Embraer

Embraer Phenom

Embraer Phenom

Epic

Epic

Extra

Extra

Game Composites

Game Composites

Gulfstream

Gulfstream

Hawker

Hawker

Honda Jet

Honda Jet

Lancair Evolution

Lancair Evolution

Learjet

Learjet

Leonardo

Leonardo

Maule

Maule

McDonnell Douglas

McDonnell Douglas

Pilatus

Pilatus

Piper

Piper

Piper Cheyenne

Piper Cheyenne

Piper Piston

Piper Piston

Piper SuperCub

Piper SuperCub

Robinson

Robinson

Sikorsky

Sikorsky

Tecnam

Tecnam