Insurance is available (at a cost, of course) via TCA and NMRA. It may or may not be less expensive than what you can get with a rider on your homeowners insurance.
Your homeowners policy's contents coverage will offer some protection, but it's rarely adequate for a train collection. Whatever you get, be sure you get it in writing, and don't just rely on the agent's word.
There have been other threads on here regarding this subject. However, one thing I've never seen is a report from someone who has actually made a claim. Unfortunately, that's when you really find out how good your coverage is.
