Depends what you call sensible insurance. When I first got my lex I was paying over 5k for it.
A lot of the richer people I know from school and who are successful and are my age all own their own cars.
At 22 a good friend of mine insures his Bentley GT for the same I pay for my merc, as they are both group 20.
As for hands free, I would need 3 headsets for my phones so I don't bother, I may be breaking the law, but then I have never been anywhere near close to an accident when on my phone.
Many people in this country if they see someone in a flash car they don't like them, or think of them as overpaid, or spoilt. Th rest of the world when they see someone with a nice car they see them or their family as successful. Brits just can't face the fact they get jealous. I know I am, but I like to think as they or their family are successful.