Should I have special guitar insurance?

Sean from Seattle writes:
I wanted to add my opinion on this topic, because this year we had a house fire and luckily, I had most of gear covered with an policy extension for my gear.
As part of my home owners policy, I added an extension covering most of guitars and recording gear. I hadn't been very good at keeping it updated, as I've bought & sold some gear since we aquired the policy when we bought the house. A couple of the more important stipulations of the policy extension are based on the following (which may differ depending where you live):

1. You can't be a professional musician, which is defined as making ANY income playing music. The reason this would be an issue is that if you are an active gigging musician, technically you should be operating as a "business", and that "business" should be paying for insurance to cover equipment used to operate the business.

2. If you collect gear as a business, the same rule mentioned in #1 applies.

Luckily, I collect as a hobby and everything I lost was compensated by the insurance policy.