Generally, very much so, especially when you factor in which province in Canada you are insured in.
Well, I pay less than you for full coverage. 180$ per year for insurance. (Your age , driving record and how long you've had your driver's license will have an effect on how much you pay.) My friendly government screws me over for registration and drivers license. I pay 560$ a year for registration and and an extra 40$ a year for the motorcycle driver's license. A grand total of 780$ per year, well, per season (from late April to early November)
Ironically enough I found a cheaper rate with Intact. I was with Riders Plus and my rates kept going up every year for no reason. The best quote I got was from Intact, about $70/mo. I'm in south Mississauga and ride downtown every day for work.