Haven't had the opportunity to talk with them yet, but I am hoping to get an increased value based upon what has been done to the bike. I have a whole notebook of expense reports and receipts to show them.
When I got my bike insured (at the time I bought it new) they told me that if I did any more than $1500.00 in upgrades I would have to notify them of what, and how much money it was, or I would NOT be covered. I asked why, and she said "you can't have a $16,000.00 bike insured for the same price as a $12,000.00 bike". So I asked her if I just didn't report my upgrades what would happen, and she told me, "your payments wouldn't go up, but if something happened it would be handled as a stock bike".
maybe it's different with other insurance companies ?