enigmatic, Unfortunately I don't have any answers for you but it was something I was wondering about recently too. From what I've seen USA is the land of Insurance and couldn't find any insurance policies in Australia to cover this. Someone recommended to me to look at one of the brokers who handle travel insurance which may be able to be applied within Australia while you're not at home and thus covered by the Home & Contents policy - some type of domestic travel insurance I guess? I didn't however pursue it any further but would be interested to see what comes from it though. It would certainly give me some piece of mind when walking around with a few thousand $$ of equipment.
Paul