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I see this kinda thing every day. Not so much the change in description but this is an interesting subject and I will ask the next insurance estimators who come by the shop (typically many a week.)
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I have similar experiences to what can happen with a modified truck. Our buses are essentially heavily modified one-ton vans. They cost between $45k and $60k new. But insurance will call them a van when they get wrecked and pay us a third of the value. Or they will scan Craigslist or another advertising venue and find old, unsafe, out-of-service buses to get comparable values. It's always a fight.
The collector car insurance market generally does a better job with old vehicles imo. Pick a company that best matches your needs and don't bother with the "regular" insurance.