Indianna is right in that a large part of having insurance is for peace of mind. Once in a while it pays off, but mostly it makes you feel better, which is an important thing. I think the $2 per week is worth it in that case.
Fire and flood is a much greater threat to your Playmobil and instrument collection than theft. The vast, vast, vast majority of burglars are unsophisticated young meth heads (especially in Oregon) wanting to get in and get out of a place quick. They’re looking for jewelry, guns, cameras, and small electronics that are sitting out or in the usual places (e.g. dresser drawers).