Different provinces have different regulations, here in Ontario, registration
is a one time fee, once plated you only have to change your address when you moved. In New Brunswick, the license
fee is yearly along with a yearly Inspection the same as a motor vehicle (Ontario has a one time inspection also when you first purchase a vehicle, but now requires an emissions test every 2 years). As for insurance here, I am covered when towing with my vehicle insurance at no extra charge. When disconnected at home or when out and about, I have $5000 coverage attached to my home owners policy for about $100 (cannot remember, renew in November). You have to watch for insurance and over coverage, I have seen a few insure a $5000 item for $10000 and then made a claim, the insurance company only paid the value of $5000 stating that is all it was worth after the adjustor appraised it, have seen this with vehicles and homes. I would go with what it is worth and more or less the replacement value as insurance is to get you back to where you started before your loss, not ahead. Further, the $5000 I have mine insured for was the minimal they would insure it for, I only paid $1000 for the Scamp
which I told them but that it was worth more after the restoration and that the replacement value was $5000. For the restoration, I had to tell them I was restoring it back to original as anything else would be custom and not insurable.