Yes, for this type of item, they generally are going to pay you actual cash value for your loss. If something is generally no longer available new, the insurance company or you will not be able to replace it with new. Another consideration is that you are buying it used and if something happens to it, you will replace it with used. Now the real truth. No one is going to beak into your house and steal your Zone VI enlarger and any of your other priceless darkroom items. There is little market, they are generally pretty darn heavy and can not be easily converted to drugs. If not being used commercially they will generally be covered under your contents section of your homeowners policy and there is little chance of a loss. I currently have a Zone VI 5X7 enlarger, 2 Durst 1200s and a Beseler 45V XL stashed away in a darkroom and have no concern about them being stolen or burned up. Check with your insurance company, but I doubt you need to do anything other than to have a homeowners policy with contents coverage. I do insure some camera gear seperately, however it is stuff I carry away from my home. It is insured for what I could buy the item for used. Bill Barber