Insurance is cheap if you can find a car that falls between the muscle/sports car and sedan catagories. I also owned a '75 LeMans Sport and it fell into the "luxury sedan" category despite having a 455ci performance motor. However, most insurance companies consider anyone under the age of 25 a liability if they're insuring a pre '82 (not sure?) car of any kind. It's basically hit or miss.
Also, the upkeep on a classic is difficult if it's not a sought-after car such as a Year One (parts company) car. My LeMans has been pure hell and extremely frustrating when searching for parts. I ended up with two complete parts cars just to repair the front end and it still didn't fit properly. Take Year One or OPGI cars into consideration if you're a novice enthusiast and want to own a classic. Think twice before scooping up something that's not easily found in parts books.