Which are the best insurance companies for classic cars?

How do different insurance companies rank in terms of paying their claims on time and for the full amount the car was insured for? I ask this after running into a fellow whose street rod I appraised a few years ago. The car was stolen but when it came time to pay, his insuror decided the car was worth less than his stated value policy.

In addition to approximately twenty large insurors who write coverage for classic and custom cars there are surplus lines carriers, specialty insurors and a host of smaller, cut-rate companies. Some write policies on cars without appraising or inspecting them while others charge premiums that seem artificially low. Will insolvency be a problem in this market?

When it comes time to pay, are these smaller insurors good neighbors too?  Losing your dream car to collision, fire or theft is bad enough. Having the insuror renege on the stated value policy leaves you with only two courses of action, legal fees and a crap shoot in court or accept their offer and forget about it. Anybody wish to share their knowledge on this subject?  

That’s a tough one. I guess the answer lies somewhere in searching diligently for an ethical insurance company first. I’ve seen many people get attracted by the “lowest rates” bait and then regret when they realize they’ve been shortchanged on the service/ claims front. It’s like going for a substandard thing. Either you pay higher for a good quality thing, or you scrimp and then when this thing turns out defective, you blame the company. What stopped you from going for quality in the first place?

Coming to your original question, I carry my home, daily car and classic car insurance with The Hartford for the so many years. This is one reliable company, not the cheapest, but fair with claims and good with customer service.
I’d rather pay the few extra dollars for the peace of mind!  

I am not in the insurance business but it's my understanding you should insure with a company that issues an Agreed Value policy not a stated value policy as they do not have to pay the stated value but they do with an agreed value policy.