Can anyone suggest how one comes up with the price/value of a Lancair ES.

I have heard to expect to spend 3 times the amount of the kit price for an average IFR top of the line kit
like the Lancair ES ($210,000) or IV/IVP. Does this sound right, or is the value higher or lower?

   Lancair Super ES
       Kit Price w/fastbuild door    $70,000
       New Engine IO-550            $40,000
       Propeller & Govenor           $10,000
       Misc Hoses, etc                     $5,000
       Avionics (Garmin IFR)         $20,000
       Instruments                           $10,000
       Interior                                 $10,000
       Paint & finish work               $10,000
                                                   ---------
                                                 $175,000
                                      Labor    $35,000        ($35 times 1000 hours) ?
                                                   ---------
                          Total Value ?    $210,000       (3 times kit price of $70k) ??

What do the insurance companies look at when valuing a kit plane?

Thanks