How much is your stuff worth? you'll be surprised!

The apartment complex i live in is owned by equity apartments, they just sent a letter to all the apartments in our building, the letter says that they will require renter's
insurance for any new leases. In case our building burns down, the insurance covers everything we own in our apartment. We debated the subject my wife and me and just for the heck of it we made a list of all of the stuff in our apartment,we were surprised our stuff was worth so much. We really don’t own anything. One of the biggest items was out flat screen LCD TV, Our CD collection, hundreds of CDs, at a replacement cost of $10 each? That’s $5,000. I wouldn’t necessarily replace them, but it’s good to have the insurance. Plus our priceless sentimental stuff.
When we renew our lease or when we buy a new house,(a far fetched dream in Boston), we are going to get home owners insurance and we're going to get “replacement cost�? not “actual cost�? insurance. Replacement cost will run you more, in premium payments, but it’ll pay off if you need to collect. We are going to record item by item, and store the data somewhere. If we’re really feel anal, we’ll take photos and store them on a disc, or something (somewhere other than the house).