Good topic. I am a retired lawyer and primarily worked for insurance companies, so the above advice is good.
Heres another suggestion for documenting your collectables. While its good to put pics and other documentation on a disc or a folder in your harddrive, what if they are lost in a fire,flood,tornado, etc? What I have done is put my documentation in a folder on a web based email service such as hotmail or yahoo (free). The documentation, pics etc are not being stored in your computer, so if its lost, you still have your documents. Just go to a friends computer, access your account and your documents are there.
John