Safeco Insurance Company of Illinois (related but somehow different from Safeco of America) rates my 2004 DL650 as a Sport Bike #1 and covers it for $169 per year with coverage for everything except uninsured bodily injury (my health insurance covers that) and with $500 deductibles for comp & collision. That is with five assorted discounts from Safeco, good driving record, and good credit score (what difference does that make except an excuse to charge some folks higher rates???).
In all cases, shop around for insurance. With a list of the lowest prices, check to see if any have a consistently hard time paying off good claims. "Consumer Reports" has some info. Check with your state insurance commissioner's office.
For maximum liability coverage
Consider an umbrella liability policy
. It sets minimums for your home and vehicle liability coverage (probably below what you're already buying) and covers your liability above that in increments of one million dollars. The price is usually very affordable. I feel that one should have umbrella coverage equal to about twice your non-retirement assets. IRAs and 401(k)s and other qualified retirement accounts are usually well protected under state law...check in your state.
It's worth noting that the OP is in Canada, which is a different country and everything from most of the replies here. Insurance is stupid expensive in Canada.
A friend was involved in an attempted insurance scam in B.C. A car stopped very short in front of him, his car just touched that one with the only damage a broken license plate frame. Three people came out of that car holding their necks. Another car stopped and the woman jumped out, saying, "I'm the witness," (really, that's what she said), and his bullshit detector jumped into the red zone. He started taking pictures and got out a notebook for names and addresses and statements. They said not to bother with all that. He insisted that they drive directly to a medical clinic, and they split. When he tried to complain to the police, he was told to take everything to the insurance company. Total insurance scam, and the honest people pay and pay and pay.