My insurance for 2 bikes, 2 licensed riders, Liability, rider coverage, and uninsured motorist is $150/Year. Easily covered by the fuel I save.
I am still learning to drive more efficiently, I have cut my speed down to the legal limit (60mph vs. 70mph) and my mileage went from 38mpg to 45mpg!
(Saving me $2 a day) But, it is not nearly as much fun.