you can't really compare what you pay in insurance to that which others are paying.
I work in the industry in Canada.
Distance Driven Annually
Where you're driving to: school/work or just pleasure
Your Location (rates can actually differ on opposite sides of the street)
Number of Years Licensed
I would say the vehicle is actually a smaller component. My 2008 Yaris is $30/year cheaper than the Mustang.
Insurance is crazy when you're young which is why, at least up here, most normal kids don't own cars.
You'll probably want to get a decent part time job if you're paying for the gas and insurance... and the inevitable mods you'll do to your car