I just got off the phone with my agent and here's the deal from State Farm:
Raft - insured at $5700 (rubber, frame, oars)
Gear for raft - insured at $3000 (cooler, dry box, accessories, rescue gear, pfd's, kitchen, groover, camping gear, chairs, firepan, etc.)
Canoe (Dagger Caption fully outfitted) - insured at $2500
All this would run $150 per year.
However, and this is a big however, he said that there may be a need for liability insurance attached to these items, i.e. I take some kid down the Numbers and he falls out, gets hurt (or worse) and sues me, my homeowner liability policy may NOT kick in so I need to have liability for the boat. He's checking on this right now so I'll post his response. You'd hate to think that a "friend" that you take rafting would sue you if something happened but people sue for anything these days.
I have a sweet flatbed trailer that I haul my rig on and it's fully insured for $12 per year.
Get the insurance. If you had to replace your gear and didn't have it, it would suck.
My agent is great and very easy to work with (I get no kick back on this):
Tom Erickson, Agent
State Farm Insurance