I have the Elephant 10month insurance. Not had any problems yet, but I've not renewed yet.
Mine was ?750ish fully comp for Mk3 16v, but now changing policy over to my Mk2 16v (the one in sig below with small bumper).
I'll probably do another 10month policy after this one, then transfer to Admiral (Elephant's parent company) who will recognise the bonus accelerator.
My Mk2 16v cost ?700 (without tax) in pretty good condition, all original.
From your description, I'd agree that ?2200 is a bit much, probably best to aim for ?1500-1800.