Can someone tell me about MX5s?

[mpit]

So, the other half wants her own car again, since we've moved to London and I've always fancied having an MX5 without actually having to drive it every day, seems like the perfect match, right? With Winter approaching, it seems a good time to pick one up.

Looking for something super cheap that she can bash up and not have to worry about it (She'd only been driving on the road 2-3 months before having to give her car up for the move!)

Is it as easy as just going to look for the cheapest £800 crapper? Are they fairly reliable?

What about rust, anything significant I need to look out for? Are there years/models that fare better than others in terms of rust/reliability?

What about insurance? I keep hearing people mention classic policies for MX5s, is that a thing?

Thanks

[mpit]

Are MK3s immune from the rust problems?

Am I more likely to find a solid car by getting a cheap MK3?