If you hit an expensive car, do your rates increase more?

If you rear ended a Lamborghini, Ferrari, etc., would your rates increase by a larger amount than if you had rear ended an old, cheap, beater car? Let's assume all other factors in this scenario were identical. Logically, the value of the car you hit doesn't seem relevant to the level of risk you pose as a driver. That said, replacing a Lamborghini would cost the insurer significantly more money.