Home owner's insurance question

Tuberist is 100% correct. Items that appreciate in value ( jewelry artwork etc) over time can be individually scheduled with a declared value and receive “all-risk” coverage, even dropping an item would be covered.

items that depreciate over time cannot be insured for a declared value. However here is some good news. Say your “top of the line” Sony 75” TV or former top of the line Matantz pre-pro is destroyed by lightening from years ago. If that model is no longer being sold, a quality carrier will replace it with the “top of the line” model today. Keep all brochures, sales receipts, owners manuals and take video or pictures to prove the model you had. Do not throw it away in case the adjuster wants to see it. I have had 10 year old gear replaced at over 2.5 times what I originally paid.
Dave

Jumping back in here. Policy limits will certainly play a role, as will the cause of loss (peril). If you have a renters policy your limit may be too low for a high end system. Raise the limit if this is the case. If you own, typically your contents coverage will be a percentage of your house value - Hopefully house value will be high enough so say 50% contents coverage will cover the equipment. Check your limits. Boxes are good, but receipts are better and photos are a must if equipment is highly valued. The key in any claim is to help the adjuster value your loss and close it out. They have a pending and love to close claims. Make it easy for them by providing appropriate documentation. If you are with a major carrier I think the adjuster is more important than the agent ( who has little to do with the claim).  

As an independent insurance agent/broker for over 41 years, here's some good info. 
1)  Get an insurance person/agency that wants to know you and will know what you need.  We are stupid nosy for that reason.  If you buy online , the companies know you don't what you're doing and looking at price only.  So when you have a loss and it's not covered ...You can't blame the company because YOU picked out your coverage !  Buyer beware. 
2)  Know what your contents is worth !!!  Take good pictures of your stuff !!!  AND store the pictures /info offsite or in the cloud . 
3)  It's a pain in the butt, but make a spreadsheet of your vinyl and CD's and DVD's .  If you have collector vinyl you can schedule them for additional premium ( and no deductible ). Note: They are only covered for breakage in most instances only if you add breakage coverage.  Store this info offsite or in the cloud also. 
4)  Get real ...There is no such thing as " all risk" insurance any longer !  Buy the broadest form property coverage you can get.  If you live where it floods , buy flood coverage and excess flood insurance ( because Federal flood only covers $ 100,000 max on your contents ! ) .  Earthquakes ? Buy or add earthquake insurance.  If your policy doesn't say " Replacement Cost Contents or Replacement Cost Personal Property"  you're buying "named perils"  aka junk insurance IMO !   Know what you're buying and don't wait for a loss to find out what you don't have. 
5) I noticed no one mentioned covering your equipment tweaks and your home-built DIY items .  Make sure you have a list / schedule of what you have added/changed and take pics !  From ICs, to fuses, to cartridges, tonearms, re-caps, factory upgrades, etc .   No proof , no compensation in the event of a loss. 
6) The insurance carrier is not your friend, the insurance adjuster is not your friend, your insurance agent/broker SHOULD be your friend or at least greatly familiar with your insurance exposures and needs.  We can and do go back to the carrier or adjuster to help assist you on a loss if there is a problem . And we can assist you through the entire loss to make sure you get what you have paid for.  Insurance is a contract between you and the coverage provider . A great agent/broker should be there from purchase to and through claim period. 

Now go look at your policy and call your agent/broker and find out what the heck you have and what you're paying for.  

NOW...Back to our music .... Happy Listening ! 

SHAD