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I've got mine insured with American Family under a "collector policy" with an agreed value for coverage (the car has to be appraised to determine it's value). No milage limits & very reasonable rates. They do require it be registered as a "collector" type car. In Wisconsin this means it has to be 20yrs. or older. The plus side is you only pay the WI registration fee once instead of yearly, and if emission test is required you only do it at time of registration [one time]. Also, for American Family, they require you have another registerd "daily driver" to give the better collectors rate. I would have to go recheck the policy, but I'm pretty sure it's not covered when racing though. Not sure if you can get coverage for that. I have no affiliation with them, just happy with the service. Hope this helps.
My 70 is being rebuilt at the moment. When the paint was stripped from the body we found the rear panel had been replaced by pop rivetting it in place then Bondo over the top! The N/S rear fender had been replaced with a second hand one that was held together with bondo. It was fitted with a 77 gas tank and the frame was kinked in three places I just hope that no one is allowed to 'repair' them like that anymore! Sorted now though, but a load of work!
I had a couple of Harley's slide into the side of my 82CE.. insured by State Farm. Took it to a chevy dealership that has some Vette guys running the body shop....
The guy that was responsible for the wreck paid in full, so the insurance didn't have to step in, but they were ok with the place I choose to take it too...