Moving on Up

If you want to buy the airplane of your dreams, you might need an IFR rating.

Thursday, January 19, 2023 at 06:26 PM ET

Verified

Typically, potential buyers who’d like to go for faster single-engine equipment—even when they remain in the piston category—find that they have obstacles to overcome, to include qualifying for insurance. [Credit: Glen Watson]

Key Takeaways:

Purchasing a high-performance single-engine aircraft can be challenging for pilots without advanced ratings, primarily due to strict insurance requirements and high premiums.
Insurance companies deem pilots lacking an instrument rating or sufficient experience in complex aircraft as high-risk, given that faster planes increase exposure to instrument meteorological conditions and demand greater proficiency.
To mitigate these challenges, pilots are advised to obtain necessary advanced ratings (like an instrument rating), often training initially in a simpler aircraft, and complete specific make/model transition training.
Investing in additional pilot training not only enhances flying capabilities and safety but also ultimately helps reduce the long-term insurance and operational costs associated with owning more complex aircraft.

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Even when you’ve had your private pilot certificate for some time, buying your first airplane can be tricky. Typically, potential buyers who’d like to go for faster single-engine equipment—even when they remain in the piston category—find that they have obstacles to overcome, to include qualifying for insurance.

That was the case a few years ago when a long-time pilot friend told me she wanted to upgrade to a Beechcraft Bonanza that had come up for sale. It was in the middle of the pandemic, which meant she probably wasn’t alone in her pursuit, as more people were finally deciding to tap into the general aviation market.