Ways Private Jet Owners Can Mitigate Risks 

Flying on a private jet is safe, and every year, it gets a little safer. Data from the Aircraft Owners and Pilots Association shows that accident rates fall year over year. As a private jet owner, you can contribute. 

Potential risks jet owners face include accidents, mechanical trouble, and poor staff compliance. Investments in maintenance, training, and insurance can help you mitigate common risks and stay safe. 

Ensuring Regulatory Compliance 

Jet owners are responsible for ensuring their programs comply with Federal Aviation Administration (FAA) rules and regulations. For example, owners must ensure that their aircraft is properly maintained and certified. 

An airworthiness certificate from the FAA authorizes an entity to operate an aircraft. As an owner, you’re responsible for ensuring your aircraft has this document. You must also perform routine inspections to keep that document up to date. 

Navigating Aviation Regulations 

In addition to keeping your aircraft updated and checked, your crew must also be kept educated and updated. FAA regulations require owners to provide training and keep track of course completion. 

These classes can help your staff refresh their technical skills. They also give you the opportunity to ensure your staff has softer skills, such as empathy and cultural competency. 

Implementing Thorough Maintenance Programs 

Routine maintenance is an important part of maintaining any type of aircraft. Careful checks and preventive repairs can ensure that you catch and fix problems early, long before they cause safety issues for your crew. 

The FAA requires routine maintenance, and you must work with professionals who use the appropriate tools and equipment. These mechanics certify their work and can provide you with documents that demonstrate your commitment to ongoing aircraft care. 

Securing Comprehensive Insurance Coverage

Experts say aircraft insurance premiums are driven by factors such as your aircraft type, your experience, and where your aircraft is stored. Some of these factors are under your control, but others are not. 

It’s smart to shop for the right coverage for you and your program. Once you’ve purchased a plan, review it regularly to ensure you have enough coverage for unexpected issues. 

Periodic assessments of insurance policies help you align your coverage with current operational policies and market conditions. Those reviews ensure optimal protection against potential risks. 

Understanding Insurance Needs

Several different types of insurance exist, each covering various problems that may affect airline companies.

This table can help you understand what these policies are and what sorts of things they cover: 

insurance type	purpose
Hull Insurance	This covers physical damage to the aircraft itself, whether on the ground or in flight. Policies can be “in-motion,” “not-in-motion,” or “all-risk,” depending on the extent of coverage.
Liability Insurance	This protects the insured against legal liability for bodily injury or property damage to third parties resulting from the aircraft’s operation. This is often required by law or airports.
Non-Owned Aircraft Insurance	This provides liability and (optionally) hull coverage when piloting or renting aircraft not owned by the insured. It is essential for flight schools, renters, or occasional pilots.
War Risk Insurance	This covers losses due to war-related perils, such as acts of war, terrorism, hijacking, sabotage, and civil unrest, which are typically excluded from standard policies.
Loss of Use Insurance	This compensates aircraft owners or operators for lost income or revenue while the aircraft is under repair for covered damages. This coverage is not always offered by default.
Crew Insurance	This provides medical, disability, and accidental death benefits for pilots and crew members. This may include coverage for loss of license due to medical disqualification.
Hangar Keepers Liability	This covers the insured for damage to non-owned aircraft stored or maintained in their hangar, and it’s often required by FBOs and maintenance facilities.
International Liability Coverage	This ensures compliance with foreign aviation insurance requirements, such as those mandated under the EU or ICAO. It may include higher liability limits or country-specific provisions.

Leveraging Professional Aircraft Management Services 

All of the compliance steps we’ve outlined can take up your valuable time. An aircraft management service can handle these details for you, freeing you up to work on other mission-critical tasks. 

Several management companies exist, and it’s important to do your homework before choosing one.

An ideal partner will have the following characteristics:

• A proven track record of helping clients like you
• Certifications from the FAA and other regulatory bodies 
• Positive testimonials from prior clients

Your potential partner should also explain what tasks you should take right now and what steps can wait until your relationship is more established. With a solid plan in place, you can budget effectively. 

Benefits of Working With an Aircraft Management Company 

Professional management companies, such as Element Aviation, can handle day-to-day operations, maintenance scheduling, regulatory compliance, and crew management. You’re fully in charge, but you’re not required to provide hands-on assistance with each step. 

While management services come with fees, the benefits often outweigh the expenses. You’ll reduce downtime, ensure compliance, and potentially lower your insurance costs by working with a reputable company.

Establishing Emergency Response Plans 

What should your crew do when something unexpected happens? A formal plan can help to reduce panic, allowing your staff members to handle issues quickly and effectively. 

A formal emergency response plan (ERP) should include common aircraft problems, such as the following:

• Hijacking
• Fire 
• Collision
• Equipment failure
• Onboard medical emergency

Your ERP can also include issues such as fraud, sexual harassment, and staff conflict. 

Your manual should be clearly organized and stored in an easily accessible location. Your staff should also participate in training sessions and drills, so they can work quickly when something happens.

Managing Financial Risks 

Your financial obligations don’t end when you purchase a jet. All owners have ongoing costs that can turn into big problems when they’re unexpected. 

Your aircraft budget should include line items like the following:

• Fuel 
• Maintenance
• Crew salaries 
• Hangar fees
• Insurance premiums

A well-structured budget can protect you from financial emergencies. Your plan can give you peace of mind that you’re ready for whatever comes next. 

Partner With Element Aviation to Mitigate Your Private Jet Ownership Risks 

At Element Aviation, we can help to take the stress out of private jet ownership. We can help you find the right aircraft at the right price, and we can connect you with talented crew members to maintain and operate your jets. With our help, you’ll be ready to travel safely. 

Reach out to us today to learn more about how we can guide you through jet ownership. We make the process straightforward and seamless for our clients.