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Hi Diane, thanks for the inquiry! I found a listing for a similar item at the $1,550 level (see: http://www.kijiji.ca/v-art-collectibles/city-of-toronto/toronto-blue-jays-bat-signed-by-cito-gaston-1992-1993-champs/1100039296?enableSearchNavigationFlag=true) although that seems potentially optimistic.
I found a comparable (from 2004, when the market for sports memorabilia was a bit stronger in some elements) for a full team-signed jersey and bat at the $2,000 level (see: https://www.liveauctioneers.com/item/292693_19921993-blue-jays-autographed-items) and typical signed bats from the 1992-1993 team sell at the $250 to $350 level.
Based on sales and the marketplace, I'd say a value of $500 to $700 is more appropriate for insurance purposes as there are few - if any - Cito Gaston signed bats and items in the marketplace today.