Here's an alternative....self insure. Take some small amount of money out of every pay check and set it aside. Put it in a special savings account or buy us savings bonds. Do something with the money that will prevent you from spending it. After a while you'll have saved well enough to cover any loss...take care of your gear and you'll come out way ahead.
Speaking fromexperience, a rider on your homeownerspolicy is inexpensive andnearly useless.