I collect to play but to ignore the replacement value when fires, theft, flooding, earthquakes, etc claim entire collections is a choice some of us come to regret.
Think about where your collection is primarily located right now. Is it near water pipes, an air conditioning condenser, or a hot water heater, hopefully part of it is not in a basement.
If so you are more vulnerable to flooding than you think.
I lost my entire childhood comic book collection to a burst hot water tank in my upstairs closet!
They were all destroyed right there in their protective sleeves and boxes.
I've replaced a few. But couldn't afford to replace them all. Didn't realize how much I'd put into them until they were destroyed. Since I'd never catalogued or valued them before the incident insurance didn't cover them.