You can also get a rider on your homeowner insurance if you want to specify it, if your standard policy won't cover it (for example, your homeowner insurance might cover it if it is stolen, but they won't cover it if it is damaged, but another policy might cover it for damage, like if the basement floods or something....). I suspect with what you have, unless it is rare collectibles, your homeowner's policy might cover it the way it would any other household goods. The real problem might be the valuation and how the company does it, if your collection gets stolen, do they cover it for the replacement cost (ie bought new or in comparable shape), or do they pay out at what they think the value is based on 'current market conditions', and if so might pay out where you can't replace it even on the used market with what they pay. Whatever insurance you go with, you need to look at how they pay out, what they base it on, and it may not be as simple as let's say car insurance, where it is based on the blue book value, I doubt there is anything like that for trains in terms of insurance companies (tca may be better at that, plus is likely going to be a competitive rate, generally member only programs like that are). With trains, unless it is a collector item the value likely drops from the time you bought it. With collectibles it is the opposite problem, if they appreciate it it is important to get them re-appraised ever so many years, so you know how much to cover it for, especially if it becomes 'hot' or something.
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