Paying additional sums to cover your valuables is a bit of a toss up.

In general, coverage is worthwhile if you’re protecting the value of a possession rather than just the sentiment. Put differently, if a possession that’s dear to your heart is also an investment—meaning you might sell it in the future—coverage makes sense. Coverage also makes sense if you intend to replace or fix a possession if it’s stolen or seriously damaged.

But if you won’t likely replace a prized possession, like a family heirloom, and the loss won’t set you back financially, coverage may not be worthwhile. For example, your grandfather’s Seiko watch may be a great timepiece. But if it’s stolen, you probably won’t buy another one just like it because the new one won’t have sentimental value. So it may not be worth paying a premium each year for coverage. Just take care to protect it from loss or theft.

By contrast, a painting, a football signed by a winning Super Bowl team, or a rare Barbie doll collection has investment value. If stolen or damaged, you won’t likely go out and replace them. But you will have lost something of significant value.

The same rule holds true for antique furniture and fixtures. These go up in value over time so you may want to consider insuring them separately as valuables.

Buying valuables insurance doesn’t have to be an all or nothing deal. For example, if you keep your mom’s rings or dad’s cuff links in a safe-deposit box most of the year but will soon be traveling with them, you can buy coverage for just the period you’ll be away by purchasing a rider to your policy.

Or you may want to consider investing instead in a strong, sturdy safe that’s fireproof and waterproof for items that can be stored there, and skip the additional coverage.