A preliminary comparative study of basalt and E-glass woven fabric reinforced composites was performed. The fabrics were characterized by the same weave pattern and the laminates tested by the same fiber volume fraction. Results of the flexural and interlaminar characterization are reported. Basalt fiber composites showed higher flexural modulus and apparent interlaminar shear strength (ILSS) in comparison with E-glass ones but also a lower flexural strength and similar electrical properties. With this fiber volume fraction, scanning electron microscopy (SEM) analysis of the fractured surfaces enabled a better understanding both of the failure modes involved and of points of concern. Nevertheless, the results of this study seem promising in view of a full exploitation of basalt fibers as reinforcement in polymer matrix composites (PMCs).