The whole insurance thing is, in my mind, the biggest, nastiest downside to Mog ownership. This topic has been flogged pretty strenuously in the past. One prime example:
Does everyone out there run their Mogs without benefit of collision/ comp insurance? I have an RW1 coming in RORO very soon, and after getting a quote some time ago from Hagerty (stated value), when I went to sign up, they said "collector cars, nothing but show use only", and that was that...
Skirting the letter of the law (or the underwriter's restrictions) is all fine and good, UNTIL YOU NEED TO FILE A CLAIM. Which is sort of the point of insurance, for most of us, anyway. If you want to use a Mog like a real road-going vehicle, or even worse, an off-highway capable expedition vehicle, then genuine collision/ comp is going to be a tough nut to crack. And it varies per jurisdiction, underwriter, etc etc. The real downside to a liability policy with declared value (such as issued by Hagerty) for collision/ comp is that if you have an injury accident on a far-from-home road trip, they will void ALL coverage on the policy when the claim is filed, leaving you totally liable personally for any injury claim. That much was made abundantly clear to me, which is why I abandoned that plan.
It is better to be lucky than good, but in matters like this, I don't count very heavily on luck being on my side.
EDIT: In my state of Colorado, one cannot register a highway vehicle without proof of liability insurance (collision/ comp is owner's discretion)