This is a thorny subject I know from a recent experience.
My late Mk2 LS400 1994 M reg write-off, insured with SAGA, started at £1400 and ended up paying me £2k (less £100 xcs ).
And coz it's a vandalism claim doesn't impact upon my Protected No Claims Discount either and more importantly , NOT counted as a claim against me for future premiums.
I argued my case and they paid, which enabled me to buy ACLexs 1995 Mk3 without demur ...... another dream machine !
However, with my 1932 Triumph Southern Cross Sports Tourer, I have paid the premium with which, whomsoever I went to, came out the same quote, all bar about 30 pence ! There must be a very restricted market at Lloyds Underwriters for this risk.
I insured this with the NFU ( for the 4th. year ) and we again agreed that the value the insurers and I would now place upon the vehicle was so adrift that we would just argue the toss IF a claim ever arose that they thought would write this car off.
Hopefully it never will have a claim but there you are, insurance and unvalued until the claim time arrives.
One would end up arguing the toss anyway I feel, even with an " agreed " value at the outset !
Malc