Gallium nitride (n-type) films of thickness 300nm were grown on c-plane sapphire substrates using plasma assisted molecular beam epitaxy (PA-MBE). High resolution X-ray diffraction and photoluminescence measurements were used to confirm the crystalline and optical qualities of the grown films. Metal-semiconductor Schottky diodes were fabricated using Pt as the Schottky metal and Al as the Ohmic metal contact. Metal-insulator-semiconductor Schottky diodes were also fabricated using HfO2 (10nm) as the insulator material. Diode parameters like barrier height and ideality factor were extracted from I-V measurements. Introduction of HfO2 as the insulator layer leads to better rectifying behavior (forward to reverse current ratio improves from 5.1 to 8.9) with a reduction in reverse leakage current (by 7.4 times), increase in barrier height (from 0.62eV to 0.74eV) and a reduction in ideality factor (from 6 to 4.1) of the Schottky diode.