If you do not check and you do not have the correct security on where the property is kept you may potentially not be paid out in the event of a claim. For example some of the security requirements may be, 5 lever mortise deadlocks on all windows, key operated window locks on all windows, sometime a 999 central station alarm is required (this may be needed as the amount of the sum insured increases).
It is not uncommon for some insurance companies to request it to be kept where there is twenty four hour supervision at hand. Every insurance provider/company is different so please check with them.
Often this type of insurance for antiques and fine arts cover flood damage but unfortunately if you live in an area of high risk and that has actually had flooding sometimes cover will not be available or there may be an exclusion or a premium increase on the policy. You should also consider some form of Critical Illness Insurance