How to insure for flight instruction?

Howdy,

I'm currently looking at trying to put my beloved 1963 Beech Musketeer
under commercial insurance to offer flight instruction in, and rental
of. It's either that, or sell it, as my partnership is dissolving. I
have an airport that needs a small flight school, and has plenty of
potential students, and a couple of independent CFIs who would love a
plane to teach out of part-time. My problem is the insurance issue.

I have sent out some requests for insurance quotes from various
agencies, but nobody has gotten back to me, indicating to me that there
aren't a lot of people beating down the door to insure a single-plane
flight school. The airplane will be owned by an LLC, not by me
personally, altho I own 95% of the LLC.

The Musketeer isn't too valuable (even tho it's a great plane, and a
fantastic plane to do training in, the hull value is only around
$20,000.), but even with that low a hull value, this proposition
doesn't make economic sense if the insurance is going to cost more than
$3000 per year.

So are there other CFIs out there offering instruction/rental of their
own planes? How are you doing it? What is your insurance costing you
per year?

Is it an option to not carry *any* insurance on the thing, but require
all students and renters to have renter's insurance, and all CFIs to
have non-owned CFI coverage? I want to be responsible and be able to
cover any damage done in the remote condition that something happens,
but I don't see paying $6000 a year for coverage on a $20,000 airplane.
Any ideas or suggestions?

Thanks,

Cap