The insurance policy will state someplace in the fine print if its ok for a person that dose not owne the bike to ride it. The policy provider will be able to say. Putting you on his policy will work as well.
Is it legal insurance wise to borrow the bike for a ride yes, for a month perhaps, dont tell them and they will not know.
Getting your own policy will not be hard just walk in to a large insurance company. Say to the nice person "I got me a new bike I need a policy!" drop some cash and in 10 min or so your legal.
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