Drag Racing

Ok so here’s what happened:
My 2000 Pontiac Grand AM SE (in great condition) was parked on Monday night by the curb at my house (I was not in the car). A 15 year old kid stole (yep, stole) his parents Ford Expedition and went drag racing with his friend. On his way home, he turned around my corner at about 55 miles per hour and slammed straight into my car. He got a flat tire from the collision and drove away on the flat while my uncle chased down his car. (He eventually crashed the car into a house nearby)
The adjuster for their insurance company came out yesterday and said my car is a total loss (i.e. totaled). I temporarily have a rental car and now have to look for a new car. The insurance company is going to give me the Kelly Blue Book value for my car (about 3-4 thousand IF I’m lucky because of the cars age) and I have to use that as a down payment on a new vehicle.
Now here’s my question: My car that was hit was completely paid for and I only had to pay $40.00 a month in insurance for it. I have found a Chevy Impala (used) but I will now have a monthly payment of $160.00 AND the insurance will be $100.00 a month. Given that I am a student who has loans, I need my car to get me to work, and I now have added expenses because of the recklessness of this kid, do I have grounds to sue for compensation (i.e. can I sue for personal damages or anything like that?) What are my legal options? If you could give me as much information as possible, it would be so greatly appreciated.
in the state of TX this kid is basically considered his parents ‘property’ until he is 18. Because of this, I would have to sue his parents. What I am basically asking is, can I sue them for personal financial damages I am facing as a result of this incident?

First I would call the insurance company and ask them to justify raising your rates, as you where not even in the car. (or have you parents if the policy is though them). Then if they run you around call around for other insurance quotes and explain the entire problem.

THen you should ask a lawyer in your state or country if you can legal sue for lost time and such, as your "credit rating" and "insurance standing" has been damaged by this person. Only someone in law in your local area knows what the courts will allow.