Very true what you have said above Daniel, but, I'm not one to over insure on something that continues to go down in price. If I can replace it at the current market value, and that's what I'm insured for, then I'm happy. If I can't replace it at the current market value, then so be it. I can't see insuring something for what it used to be worth and paying the preminums for that coverage. A book that is 10-15 years old, with it's inflated outdated values, is not the proof an insurance company will accept for today's values, so why pay the extra premiums. Chances our your insurance company won't pay that price unless you can show them a current up to date book and that's not possible. There's no difference between Harbour Lights and a new car. You insure the car for it's replacement value at the current time and not what you paid for it 4-5 years ago because the insurance company will not pay what your original or inflated prices. They'll only pay what the car is worth today.