Yes, insurance companies were on the warpath. I bought my first car in 1972. As a teen aged driver, the first thing I shopped for was insurance and quickly figured out how to work around the premiums on performance cars. I was paying for the car and all the expenses so big insurance premiums were a show stopper.
Every "performance" model was out, including the 'Cuda and any R/T model. Any 4-speed was also out. Funny thing was a 340 'Cuda with automatic was a performance car and I couldn't afford insurance, but for 1970 only, a 340 Challenger with an automatic was not a performance car and was insurable. A 1971 Challenger R/T with a 340 was rated as a high risk / high premium car! I always thought this is why Dodge dropped the R/T trim in 1972 on both the Charger & Challenger.
I looked long and hard for a 70 340 Challenger with auto, but never could find one. Similar story with the Road Runner and Charger. Road Runner with 335 hp 383 and 727 was high performance. I found a 70 Charger SE with the 330 hp 383 and 727. Insurance company rated it as a luxury ride and not a performance vehicle, and that solved my insurance problems...