State Farm quoted me $1000cdn / yr for my Trek Madone 6.9. I would have to sign a waiver stating that the bike would not be raced or, strangely, ridden near schools (not sure I get that one.) They said it would cover me for pretty much everything (bike + any medical costs not covered by OHIP/work health plan) if I crashed while out riding. I didn't end up going with it as I figured that as long as I don't crash for three years, I can cover the cost of a replacement frame under Trek's crash replacement program + new bar and other miscellaneous items. If I were to be hit by a car, my auto insurance would cover that.