Insurance Cost!?

Just purchased a 76 duster with a 225. with $1000 deductables my premium would go up $2600 a year!? I'm going through progressive and have the declared value as $5000. What is up with this!? Do you all pay that much?

I have a 70 RoadRunner and a 70 340 Swinger insured for about 50k with Hagerty's and it is like 350.00 a year. 2600 is a way to much!! Ronnie