This could be applied easily to
items like
expensive jewelry (which may not be covered when worn outside of the home or
in specific circumstance like when it is placed
in a locker at a gym), or
collections for example a record
collection may not be covered under your normal policy if it is worth
in excess of a certain threshold
in total or if individual
items are considered to be more valuable than a newly bought replacement (such as an album released on one label which has then since moved to another where it became very popular).