Collectibles experts tend to agree that a collector should begin keeping a record as soon as they start collecting. Record all details of purchase and price. Without this information, prospective buyers and insurance appraisers may not take the collector’s word. It is also recommended to take a photograph or video of each item or groups of items where each may be easily identified. Records can be made in a format suitable for the collector, from a simple spiral notebook to a computer software program designed for collectibles.
In addition to the information the collector records, it’s a good idea to keep all written material and certificates which have been received with the collectibles — receipts, flyers and stories, care and handling instructions, etc. They will help to document a collection for resale or replacement in the future. At least one website now exists where collectors can permanently register their collections in an online database with a photograph and description of each item. The collector can affix an inconspicuous identifying tag or seal that is virtually impossible to counterfeit. Having such a record of the collection stored separately is good insurance in case of a disaster such as fire and is an aid to law enforcement in thwarting thieves.

Insuring a collection

When it comes to insuring a collection, the first step is generally to check one’s present homeowner or renter’s policy to find out how extensive coverage may be in the case of fire, burglary, or other risk. Some policies carry a fairly high maximum payment for items such as collectibles, while others offer very little of this type of protection. Compare the amount of coverage available with the value of the collection. If the homeowner’s policy is deemed inadequate, collectors have the option of contacting insurance companies that offer special policies for collectibles, such as American Collectors Insurance, The Chubb Group of Insurance, and Collectibles Insurance Agency. Also ascertain whether there is coverage for all eventualities — burglary, loss, damage, etc. It is essential as well that one determines how the value of items would be assessed by an insurance company: on replacement value, purchase price, or some type of “depreciated value.”
A collector is most likely to obtain the best price for additional coverage or riders on his or her collection if he or she can work with an insurance agent who already does business with them. Approaching an agent with a request for coverage just on a collection — unless it is very extensive and very valuable — is not likely to kindle a great deal of enthusiasm on his or her part. Other collectors might be a good source of information on insurance protection.

Maintenance and cleaning  

Caring for a collection falls under two main headings: security and cleaning/maintenance. Display valuables out of reach of children and pets, and in environments where heat, humidity, and sunlight are controlled. Avoid fire hazards, and make sure there are sufficient smoke detectors in good working order. Collectors with extensive holdings may want to consider an alarm system with sensors and electric eye equipment — especially if they living in a crime-heavy area or if the home is well known as one that contains many valuables.
In terms of maintenance and cleaning of collectibles, the proper advice depends upon the medium and the delicacy of the item involved. Many firms supply Care and Handling sheets with their products, and these should be kept for future reference. Collectors can call or write to the Customer Service Department of the manufacturer of an item if they are in doubt as to how to care for it. In general, it is considered good advice to keep hand-painted items out of direct sunlight to avoid fading. Hand-painted items of terra cotta, pewter, and some other materials should not be handled any more than necessary, to avoid smudges or chipping. Never put a collectible plate or other item in the dishwasher — most are not dishwasher safe. Porcelain collector plates may be carefully washed by hand with a mild soap, and spray-rinsed. Most porcelain figurines may be lightly dusted or spray-washed and rinsed with mild soap and a gentle spray of water. Do not immerse figurines in water. To avoid problems with dust and dirt, many collectors favor frames and display cases with protective glass, especially for valuable or intricate items.

(source: http://en.wikipedia.org)