Classic auto insurance is generally different or in addition to regular auto insurance. Make sure you completely understand what type of insurance coverage you have for your classic or high performance automobile. The examples listed below are common methods used to determine what you get paid if your auto is a total loss.

Valued Vehicle Endorsement (SEF 19A) This covers your vehicle for the appraised value by an independent approved appraiser with no depreciation factor.
Limited Value Endorsement (SEF 19) This covers your vehicle to the last appraised value subject to depreciation.
Actual cash value (ACV) The insurance company decides what you get paid at the time of loss.
Stated Amount (or Stated Value) Sometimes provided on collector and limited use policies.
Agreed Amount (or Agreed Value) This is probably the most desirable type of coverage for car collectors. Its purpose is to represent a close match to Actual or Fair Market Value. It leaves no doubt as to what will be paid in the event of a total loss.

To determine what type of coverage you have READ your policy and CONFIRM with your underwriter what the policy covers. This will avoid any misunderstandings in the event of a loss claim. It will also determine the method used in writing the appraisal.