Hi Eric,
The situation in Germany is as follows.. Any bike with more than 100PS is very expensive to insure with a policy that covers repair to both vehicles (vollkasko) . I am 33 have a licence for 10 years and pay around €250 / year for a policy which covers damage to other vehicles / people, and theft of my bike, but my bike itself would not be repaired under this policy (Teilkasko).
To get a policy which covers damage to both will be around the sum you mentioned(€3000) or more. Most damage to your bike (if you are lucky) would not cost as much as the year insurance. which is why there are 3 options.
1) Get crash bungs, ride within your limits (minimise any damage should you be unlucky)
2) Get the bike restricted to 98PS then you can get cheaper Insurance.
3) Get the bike, take out the cheap insurance, ride the bike like you stole it, and have a big grin on your face!! (forget restriction)
Most SD riders choose option 3!!!
Hope that helps
Bev