I have a nice collection of machines and I am also an insurance agent. All most all companies will cover the machines under your renters or homeowners policy under the personal property section of the policy. The next step is to see if you have replacement cost or actual cash value for your personal property. Either way if there is damage done to your machine weather it is repairable or a total loss you and the insurance company adjustor will have to come up with a value for the machine..There lies the problem.. If you have a restored machine and lets say its worth $7500 but when the adjustor checks values the machine is worth $5000 that's all you will be paid. The company's job on replacement cost coverage is to replace you with like kind since they can not replace it with a brand new machine because they are no longer in production.. My suggestion on high priced restored machines is to get inland marine coverage that attaches to your home or renters policy. this is an all risk policy and each machine is insured to a specified amount so at the time of a loss that is what you are paid.. there are many things that could damage a machine besides theft. Fire, lighting, wind, water and many other things. My main concern would be fire that is cause from inside the machine. AKA a short in a board or wiring.. Hope this helps..