Thanks everyone for your response.
I talked to friends, called around and found the best quote with Blue Circle Insurance.
http://www.blue-circle.ca/users/fold...?FolderID=6628
If you're in Canada check them out. He quoted me $360 a year for everything, liability, collision, fire, theft, vandalism. So I'm happy with that price. That's a heck of a lot better than $1000