Home owner's insurance question

@dave1980 Correct, there is no co-insurance requirement on personal property. I was going to mention that earlier, but we seem to be getting in the weeds here.

@Tatyana69   Rubbish, a adjuster cannot "decimate" your claim. That is called bad faith and is illegal. The key is to have documentation to support your claim, photos, receipts, etc.

@philharmonicpete  In your scenario, you would prepare an inventory of your major items, stereo and otherwise.

Lets say you had an amplifier with a replacement cost of $20,000 and the actual cash value (used value) is $15,000. The insurance company would pay you the $15,000 and as soon as you submit documentation that you have ordered the replacement, you would get the additional $5,000. You could replace it with a more expensive amplifier, but can only collect up to $5000. Also, in most states insurance also pays the sales tax.

Sure it's a PIA, but having a total loss fire by definition is a PIA, a bigger PIA without insurance. 

@ericsch  thanks so much for your answers.
Would photographs of your system be sufficient proof for an insurance company to support a claim for loss?

Lowrider, it might be possible to have an endorsement or "rider"on your policy with a separate schedule and itemized values but I've only seen this done for jewelry, art work etc. Interesting question.
Larry

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).