Averaging 1 accident and 3 tickets & letsay a warning per year, yeah, I'd say that's a pretty fair price. Say this kid hits you, well damages and lawsuits could easily be 300K. If insurance charged him even 5K per year, that would still take them 60 years to get back, NOT including interest.
I'd say it's pretty fair and a good lesson to teach him. He's lucky he hasn't killed himself, his friends, or others yet.
When I got my 240 a few years back Metlife quoted me over 8K. I was told by an insurance agent in the family that the 240 (at least a kouki) is rated closer to a Mercedes than a Honda.
For instance, say a Honda is a scale of 10, whereas a Mercedes is a 26...well the 240 was a 22.