Insurance for system

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.

I revisited insurance coverage on the hifi and record collection when I moved from NY to Texas at the very beginning of 2017. DOT insurance is by gross weight and a joke. I was covered by Chubb, which I started using years ago- they insured various exotic cars I had for less than what they charged for a daily driver.

I have riders for the hi-fi, the records, and some other high value stuff. A year or more ago, we finally parted ways with Chubb- though I thought they were very good--their premiums got crazy. We switched to a company called "Pure" which writes for high value assets. Hopefully it is never going to be an issue.

Lloyds will insure just about anything of value, for a cost. But maybe just a rider on your homeowners delineating all your audio stuff.