USAA Aviation Insurance is simply the middleman between you and a company called, Falcon Insurance, USAA is just there to make sure you have the financial backing to support a plane. I have to admit, some blogs are more fun to write than others, and researching how to own a plane is pretty cool. If I were able to say to myself, “I own an airplane” it would assure me, I made it in life. So, if you’re searching for a way to own the best possible aviation insurance for your aircraft, then you’ve come to the right place.
What Are The First Steps In Becoming A Pilot?
Before you get your insurance, you have to not only already have a plane, but you have to be licensed by the Federal Aviation Administration (FAA). This means that regardless of the aircraft, you MUST at least obtain an Airman’s Certificate to fly anything in the United States. The last thing you need is to be escorted to an airport by F-16 Fighter Jets for not having your plane or identity properly registered with the FAA. Once you have your aircraft registered and your Airman’s Certificate, you’ll want to read up on aircraft safety procedures that are required for you to know before you fly through any airport. Once you’re done with the legal stuff, you’re ready to get your insurance so you can legally fly anywhere in the United States.
Falcon Aviation Insurance
Established in 1979, Falcon Insurance has grown into one of the largest and most specialized aviation insurance companies in the world. They are fully licensed in all 50 states, including Puerto Rico and the District of Columbia, so it doesn’t matter where you fly, as long as your plane is registered in the United States (Excluding Alaska). They’re up to 9 offices across the country, strategically set out near the nation’s biggest airports (e.g. Atlanta, L.A.X., and Dallas). Falcon Insurance has 4 plans (Bronze, Silver, Gold, and Platinum) that are based on how much coverage you need for your plane. This blog will explain each of these, to better assist you in choosing the best plan for you.
*Anytime you fly a plane, you accept the risk that if you crash, you’re almost certainly going to die. Make sure you have life insurance to help with funeral costs and any liability from the crash.
Falcon Coverage Plans
In order to get a complete understanding of what Falcon Insurance offers, you need to know about Bronze, Silver, Gold, and Platinum in each plane listed above. As tedious as this is for me, you can go into this journey knowing everything they have to offer before you talk to an agent. To better help understand some of the lingo used in these plans, we need to discuss them so everything below makes sense. When you see (OCC/OAC) Occupational Accident Coverage, it’s the amount of liability coverage for the owner of a leased aircraft. This coverage helps protect the owner of the aircraft from owing workers’ compensation on top of the OAC.
Multi-Engine Piston Powered
| Bodily Injury & Property Damage (OCC) | Premium (OCC) | Medical Limit | Physical Damage | Physical Damage Premium | Total Cost (per year) |
| Bronze | $250,000/ $25,000 (per year) | $108 | $1,000 (no Premium) | $2,500 | $115 | $223 |
| Silver | $500,000.00 occ/ $100,000 (per year) BI/PD | $216 | $3,000 | $25,000 | $338 | $577 |
| Gold | $1,000,000.00 occ / $100,000.00 | $270 | $5,000.00 | $100,000.00 | $1215 | $1530 |
| Platinum | $1,000,000.00 occ / $200,000.00 | $709 | $10,000.00 | $200,000.00 | $2430 | $3229 |
Flight Instructors and professional pilots that do not own the plane(s) they fly in are in a different category, with more requirements and higher premiums. You need multiple licenses, such as the Certified Flight Instructor Certificate (CFI) or at least the Assistant Chief Flight Instructor (CSIP) in order to be insured by Falcon. Professional pilots are always going to have to pay more because they fly more often, which means they’re at greater risk for a claim to be filed. One way pilots help protect themselves is to join organizations such as the Society of Aviation and Flight Educators (SAFE). It should go without saying, but I highly recommend travel insurance, either through USAA or other companies to safeguard your belongings as you travel from city to city.
The easiest way is to login through USAA and follows the prompts after you click “Get a Quote”, but you can also just login directly to Falcon Insurance and let them know you’re a USAA member. I prefer to talk to someone directly so if I can ever afford to have my own plane, I’ll call 210-531-USAA (8722) and let them walk me through the whole process so I don’t mess anything up.
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