To apply for your instrument rating you must already have your Private Pilot’s license. Additionally, you will need 50 hours of cross-country Pilot-in-Command time. The cross-country time that you performed during your Private Pilot qualification count toward this requirement.
The instrument rating is arguably the most important rating you can achieve after your Private Pilot license for a number of reasons:
When purchasing an aircraft, particularly one that qualifies as High-Performance and/or Complex, the insurance company may require you to get an instrument rating within a certain period of time, or offer a significant reduction in the annual premium if the pilot is instrument rated.
Here are the actual requirements to obtaining an Instrument Rating:
Instrument Rating Requirements §61.65
Instrument Pilot Knowledge Exam (Written Test) covering the items below:
Flight Training covering the items listed below
Aeronautical Experience
Forty hours of actual or simulated instrument time, of which 15 hours must have been received from an authorized instructor who holds an instrument-airplane rating.
The instrument time must include Instrument flight training on cross country flight procedures, including one cross country flight in an airplane with an authorized instructor that is performed under instrument flight rules, when a flight plan has been filed with an air traffic control facility, and that involves—
The “IFR 250” cross-country
(A) A flight of 250 nautical miles along airways or by directed routing from an air traffic control facility;
(B) An instrument approach at each airport; and
(C) Three different kinds of approaches with the use of navigation systems.
Tips to keeping you on budget
Helpful Links
Federal Aviation Regulations (e-CFR)
Aeronautical Information Manual
http://www.faa.gov/air_traffic/publications/ATpubs/AIM/index.htm
Instrument Procedures Handbook (FAA-H-8083-16)
Instrument Flying Handbook (FAA-H-8083-15B)
http://www.faa.gov/regulations_policies/handbooks_manuals/aviation/media/FAA-H-8083-15B.pdf
Advanced Avionics Handbook (FAA-H-8083-6)
Aviation Weather for Pilots and Flight Operations Personnel (AC 00-6A)
Aviation Weather Services (AC 00-45G)
http://www.faa.gov/documentLibrary/media/Advisory_Circular/AC-0045G_chg1_fullDocument.pdf
Instrument Rating Practical Test Standards (FAA-S-8081-4E)
http://www.faa.gov/training_testing/testing/test_standards/media/faa-s-8081-4e.pdf