I'll echo what everyone has mentioned, M1 rates are terrible compared to M2.
A GOOD insurance representative will be able to explain to you the difference. I'd suggest reaching out to Ronn Calderon at Dalton Timmis (ronnc@daltontimmis.com); he was a great help both in rates and explaining the insurance landscape given my situation when I was looking originally. I'm not affiliated with him and don't even have insurance through him but can say for your type of bike/age, he probably will be a great help as they seem to be drawn to smaller CC bikes (ie non-blacklist)
As he put it: Basically M1 rates will typically be sky high because you haven't proved to any insurance company that you are CAPABLE of even staying up on two wheels, working the mechanics of a motorcycle even, all you've done is passed a written test. Getting your M2 through a course shows that you 1) Received professional instructions + safety training 2) Have passed the physical ministry approved test.
The two important bits many get confused on/aren't aware of: That being said, you just got your M1 (say April 20th for simplicity sake), if you were to do the course NEXT WEEK and pass, with papers to upgrade to your M2 in 60 days (June 20 for simplicity, the minimum waiting time); you could call your insurance company and most (I know Ronn Calderon had told me he does it), will quote and write your insurance as if you HAVE your M2 and you could be on the road riding with your M1 license/restrictions but M2 rates the day after you complete your course, there is no need to wait until you officially have your M2 60 days down the road; they will extend that rate.
On the flip side, if you go today and get insurance with your M1 at $5000 annually; no company will reduce it THIS season simply because you got your M2 60-90 days from now from what I understand; your price reduction will only occur next season upon renewal.
More and more insurance companies are moving to the point where they either won't insure you without your M2 or will charge you sky high and if you pay it so be it; win win for them. TDMM basically told me 3 years continuous riding experience or do the course.