Indeed, and you can tell from the costs what the insurance companies think are the serious risks (hint, not liability).

I'll just mention ratios, that I'm a USAA customer who's father was in the military (eyesight kept me out, but they have a special category for us because we're better risks), that I don't have very many guns, have a monitored alarm, and no longer get the no claims discount (http://en.wikipedia.org/wiki/2011_Joplin_tornado).

All that said, I pay 4 times as much for the extra protection needed to cover loss of my guns as I do for the liability insurance that's an enumerated part of my renter's policy, and the single instance liability they're on the hook for is 35 times greater than a total loss of my listed guns and scopes.