Anybody have a good recommendation for coverage for all our fancy gear?

We have both a homeowner's and generous umbrella policy with State Farm, but I was surprised to learn they actually limit the coverage for audio gear, and actually won't cover speakers for the reason that damage to one usually necessitates replacement of both.

I did look into Mercer/AMBA, but you actually have to join the American Federation of Musician’s Union to qualify, which seems like a lot to deal with.

Can anybody confirm they have great coverage of all their audiophile gear (and ideally, their LP collection), and if so, who's it with and how's it structured?

What is it you are looking to cover? You mentioned damage to a speaker. Every policy that I was ever aware of does not cover wear and tear, or accidental damage. Your State Farm umbrella policy is an excess liability policy that protects your assets if you have a claim against you, but your HO covers only covered perils such as theft and fire up to the coverage limit, and subject to your deductible.

I have to say I have never heard of limits for audio gear (I'm not saying they don't exist, but usually personal belongings is a listing on the policy, and it should include replacement cost. Less the deductible, of course. I have been covered by USAA for 25 years, and I know this is how my gear would be covered.

Fire, theft, and wind would be my biggest concerns. Flood/water damage is generally not covered unless a hole is punched through the roof, wall, or window due to wind. Otherwise, you need a flood policy. Keep receipts, owners manuals, and take pictures of everything. These items show proof of ownership and I accepted them all the time when I worked claims. Boy, I'm glad I don't do that any longer.  :)

By the way, SF has a Personal Articles policy with a 0 deductible. It does have a broad pair and set coverage (2 loudspeakers), but I still believe accidental damage would not be covered.

First, it is tough to get the average agent on board to understand that it isn't a huge stack of Sony equipment that you want to insure. As always, you should have decent photos of everything. If possible have the agent come by to actually see what it is that you are talking about. Don't let them generalize it like the rest of your possessions. if they won't get on board, ask them to recommend a company who will. Maybe that will be the wake up call.
I know a woman who spent $900 on a rock necklace. Seriously, just plain grey little rocks. Well, that is what it means to me. So, without a back story, it means nothing. BTW, in this case, even WITH a back story, I wouldn't touch it as an insurer. And That is probably about the same thinking that your 'locally trained agent' has for your system.
 Just to add, receipts are mandatory.

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Thanks Danny Boy. I had previously looked into this. Here's what State Farm of Montana said:

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So it could be that, as others have noted, other carriers -- or even SF in other states -- do cover speakers under a PA policy. But that is decidedly not the case here in MT.

nice topic and I get great things from its comments

Kamran, good post thanks for sharing.

May I ask who your insurance company is?

Brad

Got it, thanks Kamran