Insurance for system

My insurance agent is a friend of mine. I asked about the system… and my extensive camera and fountain pen collection. No specific policy is required. It is covered as are all things under the home owners policy. Yes, photos make it easier… and receipts… well, how would you not have these. 
 

All you need is a policy that covers full replacement cost for all your property, just make sure the total amount is enough to cover the loss of all your belongings.

Whatever you do, I suggest getting a policy from nearly any company other than State Farm. The quality and integrity of that company has declined sharply in recent years, which probably accounts for why they offer some of the lowest rates.

Home insurance typically has a set limit for personal possessions, and it's usually a percentage of the property value.  You need to concern yourself with the specific coverage limits set out in the contract.  It is quite normal for limits to be placed on Fur Coats, Jewelry and individual pieces of art (as examples).  I have never seen a limit on stereo equipment which means it would all be covered under the total umbrella amount.  The most important provision is coverage for replacement cost.  In this case, you are guaranteed to be able to get the same gear.  In fact, if you don't replace something you will only be paid the  depreciated value.  Pictures are a good idea.  Receipts aren't that important as the replacement values are self evident.   Just read your policy or ask your agent if limits apply and if replacement cost is covered.  The policy is required reading as bad information from the agent won't help you at time of claim.  Cheers.