There are two types of coverage: Actual Cash Value and Replacement Cost Coverage. Actual Cash Value coverage will refund your expenses based on their current value, regardless of the purchase price. Replacement Cost Coverage will pay for what it actually costs you to replace the items you lost.
A deductible is the amount of money you pay before the insurance company pays you money for any losses; a deductible applies to your personal property coverage. For example, if your deductible is $250, and your computer cost $2,000 to replace, you would receive $1,750 from your insurance company if you have Replacement Cost Coverage. Generally, the higher the deductible, the lower your monthly premium will be.
Your insurance company or agent can offer advice on how much liability coverage you may need. Shop around for coverage. Most companies' policies provide the same minimum coverage, but many companies will provide extra protection for very little additional cost. No policy covers everything. Read your policy and talk to your agent. Don't wait until you have to file a claim to find out that your coverage is limited or that you're property isn't covered at all.