@cleeds As I wrote, every insurance policy has exclusions, auto, property, life, personal article floaters, boat, etc. etc. "All risk" is a term that is used to differentiate from a named peril policy.
@koestner If the speaker is no longer in production, its replacement cost would be the current market price or actual cash value.
If the speaker is still in production and has a replacement cost of $15,000, the policy would cover the cost of replacement. However, the insurance company has the option of replacing it themselves at their cost. Sometimes they can acquire the item for less than retail. If you choose to buy a more expensive speaker, you can only collect up to the RC value of your claimed speaker. Keep in mind, I am referencing the most common Homeowners Policy known in most states as a HO-3 policy. Best to check with your company or agent.