I have State Farm, and it was very easy to sign up — never had to make a claim though.
After reading this thread, I realized that I don’t know if my policy covers the actual value of my items, or the replacement cost (see kaylee’s comment above). I looked through my policy and couldn’t understand the legalese, so I called the office of my agent. The person who answered the phone was pretty condescending and told me to look at my policy for the answer. When I explained that I had already tried that and wanted some clarification, she accused me of wanting to “get a new computer because the old one wasn’t working”. I told her that I had no intention of filing a claim, I just wanted to clarify what my policy covered. Even after giving her an example like kaylee’s, she told me she didn’t understand my question.
I might be switching my policy to an office/company that can deal with my apparent stupidity regarding insurance.