Need to read the fine print. If you have a policy that gives the stated
value it is normally depreciated if you have a claim. You can also get a
policy with an agreed value. That is a value which you state the
replacement value and the company agrees to pay that amount if you have a
total loss. That value does not depreciate, but you have to set a new
agreed value with each anniversary. You can get these types of policies at
haggarty insurance or other "collector" insurance companies. You probably
won't find a State Farm or run of the mill insurance company to offer the
policy. The bottom line is that you are insuring a one of a kind vehicle,
much like a collector car or expensive boat that does not have a normal book
value. You need to go to a company that specializes in that type of vehicle
and understands that there is no "book value" for many vehicles.
My $.02 worth.
BTW, I only have liability insurance on my '68 which protects me if I get
into an accident, but I get nothing for collision or comprehensive. Costs
about $6 a year on my car policy, but like I said, I have no protection for
damage to the trailer.
Pete