Due to the rarity its hard to do a market value on these cars. Book value is 26-28k on the R34s. This was my major issue trying to prove the value of my car due to hardly any V-spec II around.
My advice would be agreed value or specialist insurance, admiral may be cheap and friendly but the claim area really let them down. Getting sent from person to person pointless talks and stalling from them
I don't want to discuss what i got paid but after long difficult talks and them checking every bit of my insurance right down to what i ate in the car.
I got paid not far from what i would have sold for. So its a mixed opinion on them but they were not easy to deal with at all.
Another bit of advice, in the insurance eyes modded R34s are worth more than standard, clean low miles. So if you have mods declare them as they will add value.
My insurance was all legit and that wasn't the issue just proving its value without them having a car to assess and the market value currently all over the place.
All sorted now though, do miss my GTR and would love it back

still keep an eye out please.
Rough time scale from claim to pay out 9 weeks