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You're not going to find anywhere that's "cheap". Why not rip out the engine and drop it in a kit car? Mine, with 330bhp and an agreed value of 19500 costs me a shade over 300 quid a year
If your in the RS owners club try going through the clubs insurancs, although i'm not sure if they have a minimum age i'm 26 and have a 2WD sapphire and I pay around £700 a year with free recovery included! thats almost half the price of anywhere else I tried.