The more documentation the better (yes, for fire, flood, theft - etc)
and nearly as important as that - keep TWO copies of everything (including receipts) - one at your home in your "safe" place and one OUTSIDE your home (i.e. bank safe deposit box) in a "safe place"
(I keep these copies with other important documentation to include - but not limited to - birth certificates, car titles, life insurance policies, bonds - etc.... or anything else that's important to you)
Pics are good - video is great (but store NEITHER on your computer for "safe-keeping" ) - especially because you can very easily document the condition of the "valuable" - it's serial number, any other identifying marks - etc.
Why? For the unplanned things (fire, flood, theft, accidental-DEATH/your estate - etc)
And yes - every year, as your "hobby items" increase in size and value, double-check that you have enough insurance (and it's NOT that expensive to add additional "riders" onto existing policies to ensure you have enough coverage) - for example,
I JUST discovered that all of my reloading equipment is considered as part of my "firearms etc" coverage and I needed to increase my coverage accordingly.
Your results may vary (but in this case........ not by much, lol)