Yeah I'm only 26, single, and been riding for only two years (currently paying $504 for an '06 Suzuki SV650 with Progressive).
After 3 years rates go down a lot I'm told.
If I wanted to I could get anything I want, drop collision coverage, and be happy. Doing it that way I could have a Hayabusa and only pay $600 a year. But if anything happened I'd be responsible for replacing/repairing the bike. I have half a mind to do that... just get whatever and say screw collision coverage, but everyone is like

h my god no".
Had a cabbie think he could pass through me last year. we were both headed the same way (4 lane road, two lanes in each direction). He was on the inside lane and I was on the outside. I was about to pass him when he just turned from his lane right across mine at an intersection. He didn't get over first, he didn't signal.... he just turned.
I of course braked, but not enough before my front tire met the rear of his car. The friction pulling my wheel the way he was going while I and the rest of the bike continued straight.
Long story short, damage came to like $400, I wasn't hurt at all (I wear full gear when I ride), but my deductible was $500 so I ended up paying for everything myself. My own insurance company even ruled it was BOTH our faults. I don't see how, unless they went with that crappy "failure to control vehicle resulting in a collision" stuff.
Point is, insurance hasn't done a thing for me so far except leave me several hundred dollars poorer than I was before. Considering that my TV and Computer cost the same as my sv650, I don't see it as a lot of money if I total a bike. It's a hassle sure, but I'll get over it. Depending on the bike, the difference between having collision coverage or not is the difference between paying $600/year, or $5000/year.
Don't mind me... I'm just hot headed and tend to think everyone is out to rip me off (cause they usually are).
Oh, and to spite the accident, and me supposedly being partly at fault... my rate still went down $100 this year. You would think it would go UP... but nope. Totally inconsistent and nonsensical if you ask me.