Flying:
156e Round Trip with Ryanair + whatever the baggage costs (I think 50e?)
https://www.google.ie/flights/#search;f=DUB;t=LJU,TSF,VCE;d=2016-05-24;r=2016-06-08
It's €25 for a bag each way, and €50 for a kayak each way, plus the €50 each way for all the paddles, we put 8 together last year.
Roof racks cost money as well, could have been €80 each, might be cheaper to fly the ones we got last year if we were certain of getting a Focus estate, sometimes they don't guarantee that, just give that as an example of the type of car.
Car rental:
Ford Focus Estate for 22y/o basic price: 505e + Damage Refund Insurance 100e + Fuel Admin Fee
arguscarhire.com
We used
http://www.carhireexcess.ie/ last year which was much cheaper than the insurance you've quoted there, I think they paid out for Benny last year actually, think it's tied to AIG or someone, so that might only be €40 I think.
So overall its over €400, but that's the majority of the cost really, food can be done cheaply.
Italy camping is here:
http://www.ilgattoelavolpe.it/€9 per night camping, so €159 for 15 nights, but the owner is usually good on giving discounts!
Fuel wasn't too bad last year I think, the Focus didn't guzzle too much despite the mountain roads.
Overall, flying and renting is more expensive, but you don't wear out someones car, and you save yourself maybe 2 or 3 days travelling, depending on how you make the journey.