Thanks for the tips. I called about the photographic equipment insurance today, and it is only $1.12/per $100 of equipment per year. The way I understand it, homeowner's covers fire, theft, tornado (I live in MO!), etc. with a deductible if I make a claim. The extra policy covers damage like if I drop it, and I don't have to pay a deductible. I will check on whether it is covered if I drop it in a lake!:G I will also make sure I use a camera strap.
I also found the camera cheaper at a reputable dealer online, so I can include a 3-yr extended warranty for what I was going to pay for the camera at a retail store.
Thanks everyone for responding! I had researched cameras, lenses, etc. but hadn't thought much about insurance and warranties.