I've also not had to claim but this was recommended a while ago in DC Mag and I have seen them at Focus on Imaging at there stand too,
http://www.photoguard.co.uk/
I pay £4.33p a month! and thats something like £50 a year but I chose to pay monthly so I pay a little interest
and have £890 worth of insured items
and £1 Million Public Liability
and £5,000 Personal injury!