anyone know if you can do this?
Probably...check with your insurance agent; often you have to give them $ estimates of the value of various categories of items. Our computers are on our renter's policy. A friend of mine had her computer stolen out of her house and she was reimbursed from her homeowner's insurance. It may vary depending on your insurance provider and the state in which you reside.
I'm sure you can do this. Keep in mind, however, that this would not cover things like spilling a coke on your keyboard. This is why I opted for the $200 for 3 years of complete insurance coverage through my school's computer service. Maybe it sucks and maybe I'm getting ripped off, but the peace of mind is worth it for me knowing that if I spill coffee on the keyboard (or it gets stolen or my dog chews it up) that for the $250 deductible, I get it completely fixed or, if needed, a new laptop at no additional charge.