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:

Buying a first high-performance single-engine airplane, such as a Bonanza, often presents significant challenges for private pilots, primarily due to strict insurance requirements.
Insurance companies typically require pilots of faster, more complex aircraft to have an instrument rating due to increased exposure to instrument meteorological conditions and the advanced skills needed to operate such planes.
Even with an instrument rating, new owners face higher insurance premiums until they gain sufficient pilot-in-command experience in the specific make and model, often requiring additional transition training or flying with an instructor.
Ultimately, investing in advanced pilot training and ratings not only enhances safety and expands flying capabilities but also helps reduce the long-term costs associated with insuring and operating more powerful 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.