Hands up anybody who has ever collected anything in their lives. It can be assumed that all us have, at one time or another, collected a variety of stuff such as stamps, bubble gum stickers, Zippos or toy sets from breakfast cereal boxes. Usually, after some time, we lose interest in what we used to thought of as collectible and boxes full of junk litter the attic floor.

But some people turn out to be consistant and continue with their hobby for ever. There are some collectors who have realised the potential of investing of rare coins and stamps and have added collections of these to their investment portfolio.

So, who is the special insurance cover for? Think about this: normal household insurance is quite sufficient if you just need to insure general items such as TV's, computers and so on. But collectibles are a different matter entirely Collections of low value may be covered by your existing policy, but successful claims to policy providers have a high percentage of failure. Standard home insurance policies offer no more than the material cost. We all know how simple it is to claim for a flooded bathroom, but can you try claiming for a first issue postage stamp from the 18th century.

Therefore, Mister Collector, what to do if that little collection of yours would cost more to replace than the new car on your driveway? Do you lie awake at night waiting for it to be stolen? Fortunately, there is an simple answer in the form of specialist collectibles insurance coverage. These policies are offered by some of the bigger players such as AIG (through their Private Client Group), Allianz (via previously mentioned Fireman's Fund policy) and also by a number of smaller providers.

As an avid collector, you would probably choose an "all risk" policy which would cover your beloved collection for things such as theft, flood, fire, normal wear and tear and even a nuclear disaster or 'mysterious disappearance'. Fireman's Fund policy provides cover for the strange category of 'mysterious disappearance'. If it is necessary for you to travel with your collection, than most specialist policies will offer cover to and from your destination.

Since collections tend to increase in size and value over the years, insurance policy creators have provided this in their policies as a way of attracting customers. New items that are added to your collection can easily be added to your policy by means of a phone call. You can even do this before you go to collect your new piece so that it is insured before you even get your hands on it.

Obviously nothing can bring back your cherished collection, should it be damaged by fire or stolen by some hard-hearted thief.

However, if you can be compensated financially for the full value of your investment, then the pain should be more bearable.