Working in the industry I can safely say that dedicated tackle insurance has had a limited shelf life for the reasons you have highlighted.
Premiums are relatively cheap and claims are high so the book quickly "burns" into non-profitable margins. Plus, claims are difficult, no longer will they accept a photo of your bankside set up or reels/alarms photo'd at home as evidence of ownership and you must have an original purchase receipt. Plus with the second hand market for tackle so vibrant you often get people trying to claim for a new set of Basias at £1,500 that actually cost them a lot less....so very difficult. Of the few markets offering bespoke tackle insurance they require to to lodge all receipts at the time of purchase rather then producing after the event.
Then there is the claims....robbed on the bank, often excluded as you were asleep, (unless you pay additional premiums), robbed out of your car, often excluded, robbed out of your shed/garage, often limited.
My advice, get a good home policy with a reputable insurer, including personal possessions away from home and you will cover off at least as many scenarios as you would with a dedicated tackle insurer.
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