Whomever quoted you those rediculous rate must be on dope!!!
Unless you are a professional drunk driver who is blind, there is no way they should be quoting you anywhere near that amount. It should be closer to 10% of those quotes. I'll bet they didn't know what you meant when you said "moped" and they've quoted you for a motorcycle.
I'm with the co-operators and it only costs me $96 per year with a buttload of coverage. I would suggest you try as many places as possible.
And as for it being required because it's financed. HORSESHIT!!!!!
It doesn't happen when you finance a car or motorcycle. Tell them to give their head a shake and ask to speak to someone who can speak english!
Hope it helps.