^ I've NEVER managed to find a single insurance company where, despite people recommending them to you, you can't find at least a few people who've had an awful experience.
Which, while on the one hand I'm saying my Shannons experiences have been good, still goes EXACTLY to your point!
With RAA. Just checked policy for my VF II Redline from when I opened it mid 2018 to now. Insured to $45k (what I paid) or Market value, whichever is higher. Hasn't changed. Premium went down by $33 this year.
Well mine also went down from $49k (this jumped up by itself from the year before at $42k) to $35k... at least my premium went down by about $50 (~$750).
This was with RAC (WA)
I must been seen as a granny driver from their POV judging by the premiums people on here have been paying, as ever since after my P plate days of running a modified R33 ($2.5k annual +$3.5k excess) my insurance for any of my cars have never exceed $1k.
The issue with the price difference is that the car is no longer produced. This means parts are limited so if one sells at auction people pay less because they'll likely part the car out.
A massive part of insurance value is based of average auction value.
Also the Canberra hail storm cost them heaps of coin so they're tightening their pockets.
40% of work that comes through the place where I work is for samsh repairers. I've seen Mazda 2's get repaired but Corolla's written off with less damage. It's all based off auction value. If the underwriter can good coin at auction for your car vs your insurance value he'll write the car off to recover costs. If you're over insured he'll repair it at a fixed price with the repairer.