Some UK collectors who think collection insurance is a whim often think that such insurance is either nonexistent or is priced too steeply. Here’s why they might change their minds. Collection insurance coverage is comprehensive. Mainstream art items like coins and dolls are covered, along with non-mainstream ones, such as sewing items. Theft, breakage, fire, and flooding are some of the damage scenarios covered in the insurance. General appraisals are not needed; you determine the value of your collection and the amount of insurance you think you need. Still, it is advised that an updated inventory of items in the collection be kept, to help expedite claims in the event of a loss.