The OP suggested budgeting between £1,000 and £3,000 for insurance. As this looked quite high and covers a fair price span I thought it might be useful to give some more accurate premiums indications based on different scenarios.
1) A single, low hours (100) pilot, private use only in a 2 seater with a hull value of £20k and combined liability cover of £1m = £510
2) A single, low hours (100) pilot, private use only in a 4 seater with a hull value of £40k and combined liability cover of £2m = £890
3) Open pilot cover (PPL minimum) including rental use in a 2 seater with a hull value of £20k and combined liability cover of £1m = £1,050
4) Open pilot cover (PPL minimum) including rental use in a 4 seater with a hull value of £40k and combined liability cover of £2m = £1,450
I’ve made a bunch of assumptions (UK based, claim free, hangared, EU territorial limits etc) but hopefully the above will give a better guide for budgeting purposes on the cost of ownership. I’m happy to churn out some other scenarios if that would be useful.
Cheers