The Rover-Landers of BC

I live in Ontario and own a civilian 1987 110 SW in very good condition. I am now debating (given the high costs of insurance) whether I should insure it with collision coverage. I drive it on weekends but don't use it to commute to work. Although I take it on "greenlaning" drives, I don't plan on taking it through grueling off-roading or rock-crawling drives.

Also, I have no idea what the "red book" value for such a vehicle would be. The appraisal I just got done for the insurance company set a replacement value of $20K, given the money that people are getting for similar condition 110/Defenders in N-A. However the insurance company said that in case of serious accident they would only give me "red book" value.

If anyone of you have insight on the best approach to use to ensure appropriate insurance on such a vehicle, I'd like to hear.

Thanks.

Seems no one here has an opinion to share on insurance?
Anyway, I've decided to apply collision coverage to my 110 (on top of liability and comprehensive coverage).
I'm told by my insurance company that they go by the appraisal value to determine replacement cost, less depreciation for every year after the appraisal was done. Clearly, there exist no red/black book values for a UK-built 15+ year old vehicle that was never officially imported into Canada.
Cheers.