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.
Insurance for system
I have been trying to get theft coverage for my system without success. Between the electronics, cables and add ons I probably have around $100K invested in it. My broker suggested that she might be able to get coverage for some of the gear but not all of it. I know that there are specialty carriers for collectible cars but is anyone aware of insurers who specialize in coverage for what most carriers would consider luxury goods?