Numismatic Insurance & Appraisals In Canada

I assume you could just keep the current insurance values the same without an appraisal. But any increase in value of the coins would not be covered.

I live in USA. My insurance company is not available in Canada. But my insurance company requires either an appraisal or copy of receipt when coin was purchased. Since I keep all receipts I just email them a scanned copy. However, the coins are insured only for purchase price, not insured above cost if they increase in value. I would need a current appraisal if I wanted them insured for more than cost. Appraisals can be a hassle. My local coin store does appraisals, charges on a per coins basis. But I don't want to do it, then do it again every few years to keep current. I'm willing to take the chance of loosing appreciated value if I need to file a claim.

I don't insure all my coins/bullion, just the most valuable ones. My insurance costs about $11 per year per $1,000 coverage. The cost is the same if it's coins, jewelry, valuable art, etc. We all decide whether or not to insure our collection. We keep our collection at home, in a bank box, vault storage. Nothing is 100% safe.

Not sure if you are a member of the RCNA, but they partner with Hugh Wood Canada Ltd. They have never asked me for a third-party appraisal.
https://rcna.ca/insurance.php