Well, it depends on the table purpose.
If this table is just to show each
IMG_ITEM_ID path, then you don't need to save history, you can just update the old picture.
If this table should save history - To track things like old bugs, or to see what was the image in some point, the you should close the old picture, and insert a new row, but in this I advise you to add two columns -
START_DATE,END_DATE which will allow you to monitor the history properly.