When I have asked my local friendly insurance agency about coverage for collectibles, the answer that I have consistently heard is that good coverage rests on the collector having an up-to-date inventory with values determined and documented by a qualified appraiser. So what they are saying is that you have to hire an appraiser, give the appraiser the purchase records (invoices) and the items, and then the appraiser writes a report to include descriptions and values of each item in the collection. The insurance folks use that document as the basis for the value of what they’re insuring.
Hope that helps.
Jim
