I pay about the same amount for my insurance for roughly the same coverage. I am covered to sail 100 mi offshore between Maine and Norfolk. I went out to Bermuda last year and paid $750 for a rider to the policy to cover me for that trip. I had an earlier policy that was actually about $1000 more expensive, but the rider to Bermuda was cheaper.
I'd suggest that you find a good marine insurance broker who can look at the type of sailing that you do and find the right policy - there is a lot of variation among insurance companies.