Expert View: Priceless, Until You Need to Prove It – How Fintech Is Closing the Collectibles Insurance Gap

By Elliot Riley-Walsh, Founder of Valart

As collectibles continue to appreciate in value, many owners are discovering that traditional insurance and documentation processes were never designed for modern collections. In this Expert View, Valart Founder Elliot Riley-Walsh explores how fintech is helping bridge the information gap between collectors, brokers and insurers.

Everyone who collects has the same quiet conversation with themselves at some point. You look at the shelf, the watches, the die-cast cars, the trading cards, the records, or the comic boxes in the loft, and a small voice asks: if all of this disappeared tomorrow, would I actually get it back?

For most collectors, the honest answer is no.

Not because they haven’t paid for insurance, but because the thing they’re insuring is, on paper, almost invisible.

The gap nobody mentions at the point of sale

A collection is often one of a household’s most valuable assets after the property itself, yet it’s also one of the least understood.

Standard home contents insurance was designed for everyday possessions such as sofas and televisions, not for a first-edition action figure still in its original packaging or a vintage Rolex. Many standard policies apply single-item limits of around £1,500, alongside sub-limits and exclusions for valuables such as jewellery, watches and artwork. Anything worth more than those limits typically needs to be declared individually or it may not be covered for its true value.

That means a collector with £40,000 worth of watches protected by a policy with a £2,000 single-item limit may believe they’re insured, when in reality they’re relying on hope rather than adequate cover.

A valuation is only half the answer

Even collectors who obtain a valuation can encounter a second challenge.

A valuation establishes what an item is worth. An insurance claim requires proof that you owned it.

Insurers may ask for evidence of ownership, proof of purchase and confirmation that an item is genuine. For collectibles, authenticity is often where much of the value lies. A watch with its original box and papers, a graded trading card, or a print accompanied by its certificate of authenticity can be worth significantly more than the same item without that supporting documentation.

The problem is that receipts are misplaced, certificates disappear during house moves, and provenance often exists only in someone’s memory.

The result is that even a well-valued collection can become difficult to claim against. If a collection has been underinsured, insurers may settle proportionally, paying only a fraction of the loss. If ownership or authenticity cannot be evidenced, a claim may become even more challenging. The very moment protection is needed most is often when these documentation gaps become apparent.

Why this keeps happening

This isn’t simply a case of carelessness. It’s an information gap that affects both collectors and insurers.

Collectors often struggle to keep track of changing market values. A figure purchased for £30 ten years ago could now be worth £600, but unless someone actively follows that market, recognising its current value is difficult.

Insurers face a different challenge. They cannot accurately price risk if they cannot clearly see what they’re being asked to insure. Without credible valuations and supporting documentation, the safest option is often to impose blanket limits or exclusions.

The collector receives limited protection. The insurer accepts uncertain risk. Neither side benefits.

Across the UK, this has created millions of collections that are emotionally priceless, financially significant and quietly underinsured.

Where fintech changes the equation

This is exactly the kind of problem fintech is well placed to solve.

Imagine a collector creating a secure digital catalogue simply by photographing each item. Receipts, certificates and provenance could be stored alongside every piece, while AI helps identify items and anonymised market data provides live valuations that reflect changing market prices rather than a paper valuation that may already be outdated by the next renewal.

Suddenly, a collection becomes visible. It’s documented, valued and supported by evidence that insurers can underwrite and loss adjusters can use during the claims process.

That changes the experience for everyone involved.

Collectors gain a clearer understanding of what they own and what it’s worth. Brokers can recommend specialist cover based on accurate information rather than relying on standard policy limits. And when a claim does arise, comprehensive documentation combined with up-to-date valuations can help streamline the process.

Building the missing infrastructure

This is the gap we built Valart to address.

My own collecting journey began at the age of five with a die-cast Land Rover Defender and grew to include Star Wars memorabilia, LEGO, watches and other collectibles. Every item carries a story or memory, but the difficulty of understanding, valuing and protecting those collections highlighted a much bigger problem.

Bringing cataloguing, documentation, valuation and protection together in one place isn’t simply a convenience. It’s the missing infrastructure between collectors and insurers.

The takeaway

A collection tells the story of a life.

It deserves better than becoming the most valuable thing in the house that nobody can properly prove the value of—or even prove they owned.

As collections continue to grow in value, the need for better digital infrastructure becomes increasingly important. Fintech has the opportunity to transform how collectibles are documented, valued and protected, giving collectors, brokers and insurers greater confidence while helping ensure valuable assets receive the protection they deserve.