They can and they do, deal with it.
Don't like it self insure. Simple as that
Insurance isn't only based on how much the car is insured for. The Agreed Value gets dropped each year on renewal to the Market value of that date and is locked in for a year.
Only part of the premium is based on the value of the car as a while, insurance companies have to factor in repair costs, parts, location, how it is stored, security on the car, previous claims history for that car (so whenever someone else's skyline is stolen it effects your premium) As cars get older parts get harder to come by.
i'm glad i don't have to deal with sh!t like this anymore
on the positive side my premium dropped $20 a month for changing my address