Another question since I stayed clear of insurances so far: What happens if I actually loose something and the company has to replace it? Do say "No problem, no need for proof it was really stolen or it's a fraud attempt, here's your (insert value here) and have fun with it"? Does the insurance rate rise afterwards or (when) do they cancel the contract? Sorry if this sounds silly or naive, but I really have no experience with insurances at all.
In Israel the insurance company would like proof the equipment existed in the first place (read: the assessor has seen it when he came when the insurance was made, or a receipt for the purchase of the item was sent to them), though some items of small value were value in lump without being itemized.
Also, a complaint should be filed with the police, though when it comes to property damages, this means very little. A few years back I reported my house was broken into and some property stolen. The police officer signed my copy of the report, didn't keep a copy, and when I asked her whether someone is going to come around and take fingerprints off the window, she said I've seen too many police shows on TV. As newspapers report, this is typical - the police don't have enough man power to investigate, and keeping copies would make for bad stats (lots of unsolved crimes).
There's a clause saying if the stolen equipement is found, it becomes the insurance company's property. As the assessor didn't write down the equipment's serial numbers (just model, e.g. "Canon EF 50mm f/1.4"), I'm not sure they could enforce it.
Insurance rate would be higher, though. E.g. there's a discount for not having sued the insurance company.