Regarding insurance...my agent told me years ago that I was free to declare a higher replacement value than book, as long as I was willing to pay a higher premium.
That advice saved me big dollars when my highly modified Audi quattro was involved in an accident. The insurance covered the repairs based on my declared value, which added up to just over twice the book value of the car.
I've done the same with my E500. Pay a little more now or a lot more later.