I'm not familiar with Lucian's story. What kind of coverage did he have?
I will talk to them again, but the cost of the comprehensive coverage on my standard Geico policy (about $15/year) suggests that they consider the car to be a random 47 year old clunker and would pay out accordingly, i.e. actual cash value, which they define as replacement cost less depreciation. That gives them a lot of wiggle room, though I suppose, if I were to get an appraisal in advance, I could use that as evidence if I were to have a claim, but they might laugh at that and tell me I should have gotten a classic policy. You'd think they'd be willing to insure it for a higher value, even as a primary car/daily driver, if I were willing to pay a higher premium and I were able show evidence of its comparable worth, but it doesn't seem to work that way with regular policies.
If I get nowhere, I'd consider one of the suggested workarounds, or some variation, e.g. buying an actual clunker, insuring it cheaply, sticking it in a barn in the middle of nowhere, and getting a classic policy for the '02. The clunker part would be easy, the barn part less so. It's crazy. I can't be the only person in the world in this situation, but I suppose it's a desirable problem related to '02s increasing in value. I paid very little for my car upfront (both the first time I bought it, in 1993, and again in 2007 when I found it and bought it back) but i've put a lot into it, so I'd like to try to get it protected for what it's worth.