Home owner's insurance question

ericsch

... personal property is covered for specific named perils, unlike the dwelling which is covered for "all risks" ...

It’s uncommon for a homeowner’s policy to cover all risks. For example, you need separate flood insurance if you want that protection. Many policies exclude earthquake coverage - that requires an additional premium. It’s always best to read your policy - although few do - and consult with your agent.

"Civil insurrection" is another common exclusion.

@cleeds Yes, of course there are some exclusions. I was just trying to keep it basic. After all, this is an audio forum.

ericsch

... Yes, of course there are some exclusions.

That's not what you wrote:

unlike the dwelling which is covered for "all risks"

What if you bought a used piece? Say I got a pair of speakers for $5,000 that were originally $15,000. Would the insurance company have to get me the same, or equivalent up to $15,000?

My father told me, "Your insurance policy is only as good as your insurance agent." 

You've received a lot of good advice from experienced people here but my experience has been that, regardless of what the fine print in your policy says, if you have an agent who's willing to help you take every advantage of what's available you'll come out ahead, sometimes way ahead. 

I've had only three major claims in my life. In those cases my close, face to face relationship with my agent got me considerably more compensation than I likely would have without that personal relationship. My policies may have been priced a little higher than the cheapest I could have bought but they turned out to have been real bargains.