It is always a good idea to have a solid and current appraisal if you are using a "standard", non-classic oriented (vs. agreed value) insurance policy. I came upon this issue about 6 months ago after completeing my long restoration project. I could either go with a Haggerty or the such, have an agreed upon value but have some type of restrictive driving terms, etc. I preferred to stay with State Farm for I wanted the option of driving it as a daily driver if I needed or wanted, I have been with State Farm for 18 years, and my agent said to get an appraisal (he even referred me to a good appraiser) and they would honor the value. The appraisal was fair, reflected current market, and I was able to maintain the unrestricted driving terms.
Good Luck.
Shawn