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Why You Need to Purchase Insurance for Your Airplane Hangar


Why You Need to Purchase Insurance for Your Airplane HangarWhether you purchase a hangar to store your personal aircraft or to serve as a fixed-based operator, experts recommend insuring your investment with an adequate level of coverage. The Federal Aviation Administration even has guidelines that may require insurance depending on how you use the property. In the sections that follow, we will cover the main reasons that purchasing hangar insurance is so important.

Protect Your Structure

Even the smallest, most basic airplane hanger likely costs more than $10,000. The average hangar is between that amount and $40,000. If you are an FBO, then the hangar you may require can cost substantially more than that. Your policy will cover the hangar itself so that if it is damaged or destroyed by an accident or an act of God, you can repair it and have hangar access elsewhere in the meantime.

Protect Your Aircraft

Your policy can protect your aircraft itself. Be mindful that your aircraft insurance may not cover your craft in whole or in part while it is in the hangar. There often has to be a balance between aircraft insurance and hangar insurance in order to cover your craft fully regardless of its current status.

Protect Your Equipment and Supplies

What about the equipment and supplies that you maintain in your hangar? It is rare that a hangar stores an aircraft and nothing else. You often need supplies for fueling and deicing. Hangars will often have various other storage requirements as well as parking for vehicles. In fact, if you have vehicles that are just parked or used on the runway or around the property, your policy will generally have an automotive component that can cover liability, collision and other damage.

Protect Other Aircraft

Do you store aircraft that are not your own? If you lease or finance an aircraft, the lienholder may require it. If you provide hangar storage as a service, clients will generally expect it. Even if they do not demand it, that does not mean you are off the hook should some mishap occur.

Protect Against Liabilities

Particularly if you are providing a service—whether paid or gratis—your liabilities will extend beyond the aircraft stored. You can be liable for injuries that occur on the site. You can be liable for damaged or missing equipment or supplies. You may even be responsible for parked cars, and liability can extend beyond damages to court costs, legal fees and more.

Choosing the right hangar insurance may not be as challenging as selecting the appropriate aircraft insurance, but it’s close. It is highly recommended that you consult with a professional you trust. That expert can help you assess risk and determine the ideal policy to protect against it.


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