Have you heard of the word "fraud"? You get covered for what you paid for and that's $299 or whatever. I hate insurance as much as the next guy and have been screwed over twice now. Once for $1000 and the other time for $8000.

If you get caught trying what you are thinking you will be in trouble.

I agree with Dredd, ask for replacement cost on insurance and if they don't have it, go elsewhere.