Insurance Costs For Private Airplanes. Private jet insurance liability also provides you with legal defense, in the event you are sued as a result of the operation of your jet aircraft. Aircraft insurance costs have risen dramatically over the past few years as the market has hardened , which means certain consideration should be paid to aircraft insurance costs prior to pursuing an aircraft.
In fact, most “technical” pricing of aircraft insurance uses only operational statistics and basic exposure data points (aircraft values, passenger numbers, etc.) to determine equitable premiums. Owing an airplane can be a liberating yet expensive experience and one of those ownership costs is aircraft insurance. The private pilot insurance cost for renting a small airplane can cost between $90 to $3,000 depending on the amount of coverage purchased.