The 1.4 (1388cc) is underpowered really anyway, seen as the 1.6 is the same engine (Just larger displacement) it would be a straight swap to the latter, the ECU may need swapping though.

The 1.4 was used in older Fiestas and it was originally 88HP! It had to be detuned for emissions reasons, hence it is 75HP, the said Pumas and Fusions also had this engine.

Due to the design of this engine, it cannot be rebuilt, well the bottom end at least, it's classed as a throw away component.

See what you mean about insurance though, it's silly really though as it essentially would be the same as one you could buy from the showroom.

Martin