So you're saying the guy who got hit wasn't on the motorcycle at the time but his wife took it out on him anyway and said he can't ride? The motorcycle is a 2002 GSX-R 600 with only 305 miles on the odometer in essentially showroom condition? I just want to ensure I'm understanding everything correctly.
If that's the case, why not just pull it off the road for a few years and drop registration and insurance on it. Keep it safely locked and covered in a garage because it would be a crying shame to part with it. If you need the money very badly, can you sell it within your family so that you can buy it back in a few years?
What is your age, sex, driving record, education, and marital status? All of those have a HUGE impact on rates. If you can get coverage from the same insurer that handles your home and other vehicles, you're more likely to get package discounts.
As an example, I'm a single woman who has never paid more than $225 per year for full-coverage on my CBR 600F2 even when it was brand spanking new regardless of insurer. The secret is to bundle the coverage with other things like homes, trucks, and cars. Hope this turns out well for you.
~ Blue Jays ~