Depending on the insurer, they will have many other risks to factor into a premium calculation beyond just the repair costs..Nice catch.
That simplifies things. However, the same biases are in place, and, to a very close degree, insurance premiums reflect costs to the insurer. The only additional variable I can think of is their confidence in their amalgamated payouts, with the less data having a larger markup as represented in premiums.
I.E. If the average payout for a vehicle is $1100, they will charge some likely fixed percentage above that (10%, 50%, I don't have a lot of knowledge of insurance markup)....
Not least of which would be ...the driver age, occupation, claim history, driving offence history, address, annual mileage driven, garaging or street parking, etc etc
Even if you have other insurance policies with the same company can make Significant difference (-20% ).
In other words, to some insurers, the driver can be more relavent than the actual vehicle when calculating a premium figure. !