My homeowners insurance used to cover my equipment, then when I got renter's insurance from the same company I had to add special policy for the gear. Photograph your gear, including serial numbers and if you have them, receipts for purchase.
Anyway, first yes of course take care of your gear, and be proud of your "white" lens. But don't be too surprised if your non camera geek (NCG) friends and potential muggers are not aware white means expensive. (I think of mine as cream colored) In my experience most NCGs will be impressed with big lenses, but the white will not be a factor, or will just confuse them.
I usually use a monopod an have used it once to defend my gear. I didn't have to whack anyone, but I did have to explain to the individual he was threatening someone holding a metal pipe. While explaining, I removed my camera.