In a "declared value policy" you get paid RCV not ACV - NO MATTER WHAT for a total loss. You also pay a premium relative to the declared value of the item you are insuring. Do you think that a Van Gough painting is depreciated for being 100 years old???? really guys use some common sense here/ Insurance companies are not in business to rip you off or try not to pay out on a loss, its a business and its a risk versus cost business.
HP rating does not make any difference if it is a show car.... But the cost of that motor is what they are looking at. if you have a 1000hp engine then the cost is $25,000+ starting value for coverage. Add chrome pieces, custom this and that and you get the picture. Now add that to a drive-train that handles 1000hp and there is another $25,000 value added. Figure out all these "replacement cost values" and then you have what a broker is looking at to insure....
Many of these High HP cars, trucks, boats dont have your typical "Speedway Crate Motor" in them for $2995 off the shelf....
RCV = REPLACEMENT COST VALUE
ACV= Actual Cost value --(Depreciated)