Did you ring around loads of insurers mate? I'm only 21 and I'm paying less than half of that! I'm sure you did, but just incase - as there's really no point in paying any more than you need to!
There are loads of suggestions of companies to try (if you haven't already) in the insurance section on here (admiral, adrian flux, etc etc), but I'm almost certain you should be able to knock some off that premium
Sorry to hear about the damage too! I just can't get my head round how some people can do that sort of thing