I never carried insurance on my collection (when I had one), so I'm not the best source of information on what to do.

However, the question is your collection is worth what it would cost today to replace it. When LHD was selling things a pennies on the dollar, the cost to replace some things was very low.

But as time passes, the values might rise again to something closer to original retail or to more in the case of some pieces. If you've got some of these very high value pieces, talk to the insurance company about specifying the value of those and agree that the others are worth the price you paid for them.

Why would you drop insurance all together?

Good luck,

John