Covariation estimates (CEs) between fear-relevant (FR) stimuli (slides of airplane crash sites) or fear-irrelevant (FI) stimuli (slides of airplanes in flight or mushrooms) and an aversive outcome (electrical shock) were examined in 15 flight phobics (high-fear participants) and 15 non-flight-phobic individuals (low-fear participants) by means of an illusory correlation experiment. In spite of a random relationship between all slide categories and outcome (illusory correlation), flight phobics exhibited a covariation bias and showed higher CEs for the contingency between FR slides and shocks than for the contingency between FI slides and shocks in a first experimental block. The CEs of flight phobics for FR slides and shocks was significantly higher than that of non-flight-phobic individuals, while high- and low-fear participants did not differ in their CEs for the other slide-shock combinations. However, even high-fear individuals were able to correct their initial covariation bias in subsequent illusory correlation blocks, presumably based on disconfirming situational information.