Hello all, I just bought my first airplane! WOO! It's a 1967 Piper Cherokee in fairly good condition that's been used as a rental/trainer for a short while, and I am wanting to do a couple things with it: Continue to rent it out (I have permission from the airport). The goal being to rent it out at-cost since we operate in an economically depressed area, but enough to cover the insurance/fuel/maintenance as much as possible. Allow a CFI to continue using it for training, and eventually use it as a trainer myself when I become a CFI (probably around next summer). I checked with AOPA and they said to expect commercial premiums between $5k-$7k, but I want a second opinion (no offense). Seeing as I'm not going to be a CFI for a while, do I need to cover the plane for training, or would the CFI's own insurance cover them as a borrower? Since there are way too many insurance options out there, what are my best options for the lowest operating cost? Any recommended insurance companies I should look into?