You need to "schedule" each item with your insurance company. I did this for each component that was worth more than my deductible. I assigned each item a replacement value, a value that in most cases was above retail(or what I paid) as I have some rarer items or items I bought used that would be expensive to replace. I assigned the higher value because I didn't want to insure the amp and the NOS tubes separately for example. In a fire or theft the two would be lost as one. I now pay a small percentage more for each item above the normal coverage I have for other lower cost items (personal property, clothes, furniture etc.). My company was fine insuring a $3000 (retail/replacement) item for more because I am paying the difference with my premiums.
Everyone should be sure of what they have covered, in many cases an insurance company has a cap on say jewelry, stereo, guns etc. In our hobby we are generally above that cap with only one item. A good friend of mine found this out the hard way when he was robbed and his many watches were stolen. The value was way beyond the insurance companies/his policy jewelry cap even though his total coverage should/would of covered it. It was his fault for not understanding his policy but by then it was too late.
If its not in writing don't trust your insurance agent when he says "yeah its covered." Good luck with that in a loss event.
