What is the point of Insurance

[Red5]

Had a bit of bad luck on the boat yesterday, losing me rod and reel over the side (lost me grip as I have a broken pinky).
Knowing I had my fishing tackle insured on my household insurance, I thought I'd phone them for the craic.

Apparently because I was using the tackle at the time I am not covered, yet if I'd left them in me car or the shed and they were nicked, I am....What is the point if I am just not covered for anything happening to me gear?

 

[simmons]

My mates went for a swim last week he was gutted still worth having them covered as you say if they ever get nicked you could replace them but your still going to have to this time your self