It is possible for that amount of money.
I insured about $700,000 in camera equipment a few years ago. It was bundled into production insurance and was around $9,000 for the year with a prominent carrier. So percentage-wise on $10,000 it won’t be $500 a year as long as the equipment is in a fairly secure location. Simply call all the entertainment industry insurance agencies and see what they quote.
I was really worried about camera theft as well, so I registered all my broadcast equipment (brand name, model, serial number and photos) remotely on https://www.stolen-property.com/
If my camera is stolen in the future I simply have check a box.