Setting up insurance for my audio-related tools is also something I haven't thought about. I seem to think that it doesn't make sense to steal these items when you can take cash, gold, or jewelry which worth more in the end. It's a good reminder when I want to get a new insurance later, thanks for the sharing!
I used to think that it didn't matter whether or not you insured your audio equipment but it makes sense to do so especially if you have invested in expensive equipment.
It is worth mitigating the risk by insuring everything that falls under that category.