Bottom line:  Be very careful in buying insurance to be sure you are
getting what you need and expect.

Yes.
Here in BC with ICBC as the insurer you can buy insurance through an agent
and state what YOU think it is worth but what they pay may have little
relation to that.
You need pictures, receipts. documentation that yours is worth that stated
value.
They have no obligation to pay that stated value.
The stated value is the maximum they would pay out but you still have to
justify
and back up that figure.
You don't just show up and receive your cheque for stated value.
If it were only that easy.

Bernie
Vancouver