Depending on your age it will affect your insurance variably.
Looking at how old you look (I'm guessing about my age - 20?) I think the insurance will frown upon 'car modification - non-standard Engine' modifications: It will make your insurance more than if you had an equal car with that size engine fitted as standard.
The main reason for this is that insurance groups are not so fussy about how fast a car can go. More important to them is the desirability (i.e. how 'theftable') the car is: Consequently adding a custom engine to your car makes the engine a lot more desirable and the car alot more likely (in insurance terms) to be stolen.
I hate to say it, but you may be better off (in terms of both insurance and overall costs) just buying a car with a larger engine, even if its the exact same car.
It is something I looking into when I had my 1.0L corsa (pathetic I know!) but I think the insurance worked out at like £200 more by fitting my own new engine, compared to just buying a new car with the larger engine.
Hope this helps, PM me if you want to know more.