You would have to have it officially appraised if you wanted to have it insured for replacement. If you feel your quilt warrants that, go for it and include the paper work with the quilt so they have the needed info :D:D:D
Mine will never be worthy of that expense :oops: but I can see having it done on some of the quilts that I have seen here :D:D:D
I am not sure I would include a price list on a "regular" quilt gift... I don't think I would be any more comfortable with that, than I would including a receipt to show how much I spent on a set of dishes, towels, etc... :D:D:D