The Gear Insurance Thread

[dveeus1]

Originally Posted by Dan Knowlton

I have my basses insured through my homeowner's policy but that works ONLY if you do not use the covered instruments for any paying gigs. Since I'm not getting paid to play (MY CHOICE! - they have offered) this works for me. On my policy:
1) the coverage is a separate rider
2) I got an appraisal from Bass Alone for my equipment
3) I have to keep it updated
4) I have some stuff that is not insured
5)the insurance is much cheaper than a musical instrument policy

MAKE SURE YOU CHECK THE CONDITIONS OF COVERAGE IF YOU USE YOUR HOMEOWNERS INSURANCE.

YMMV - Dan K.

+ 2000



Get on the horn with your insurance company ASAP. My insurance covers my gear in and out of the house as providing I dont make a living as a professional player. If I ever do all bets are off. My 2005 premium is 70 bucks. And, I have a lot of gear.

I know someone that had their home broken into and their instruments, amps, etc. taken. His insurance company gave him something like $ 2000.00 for $ 15,000 worth of stuff. The insurance companies rational was: The amount and worth of his equipment was not usual and customery or some BS like that. Get seperate rider for your instruments, amps etc. Same BS applies to you audiophiles with big time stereo systems.

[Aj*]

My new full silver Yamaha flute rather apropriatley came with an instrument insurance brochuer from Alliance (or whoever they are). Fortunatley our home insurance covers instruments both in and out but again only if you're not a professional player. Fortunatley flutes are easy to protect, mine is never let out of my sight, I carry it with me everywhere. Pity basses are a bit harder to keep with you eh lol.

[Bassist4Life]

Originally Posted by AerospaceGuy

I was just thinking, I know those few people that own Strad. violins and cellos etc. have insurance policies for their instruments.. because they are around $20k + lol..

A Strad for $20,000+?! That's a steal! From what I understand, Strads go for 1 to 3 million! I visited a reputable violin shop to find out the value of my Aunt's violin. When the ownder told me the value of Strads, my jaw hit the floor.

Anyhow, I have my double bass insured through my homeowner's policy on a rider. When I added the rider I included pictures of my instrument / case / and bow.

Joe

[Bassmanbob]

Originally Posted by Bassist4Life

A Strad for $20,000+?! That's a steal! From what I understand, Strads go for 1 to 3 million! I visited a reputable violin shop to find out the value of my Aunt's violin. When the ownder told me the value of Strads, my jaw hit the floor.

Anyhow, I have my double bass insured through my homeowner's policy on a rider. When I added the rider I included pictures of my instrument / case / and bow.

Joe

I went to high school with a girl who played a Strat violin. It had been in her family for over 100 years. She once handed it to a mutual friend of ours to go to the girls room. My friend didn't move an inch until she got back. This particular Strat Violin was valued at about 1 million dollars and that was about 1983! Everyone thought she and her family wer nuts letting her bring it to a school concert. She had a second violin for every day use at school.

[embellisher]

Originally Posted by tplyons

I would suggest reading The Gear Insurance Megathread at The Gear Insurance Thread

Yup.

Moved to Misc so it can be merged with that thread.

[Aaron Saunders]

Originally Posted by Bassist4Life

A Strad for $20,000+?! That's a steal! From what I understand, Strads go for 1 to 3 million! I visited a reputable violin shop to find out the value of my Aunt's violin. When the ownder told me the value of Strads, my jaw hit the floor.

Anyhow, I have my double bass insured through my homeowner's policy on a rider. When I added the rider I included pictures of my instrument / case / and bow.

Joe

I'm surprised it took someone that long to point out. That was the first thing I noticed about the post .

[abngourmet]

Originally Posted by AerospaceGuy

I was just thinking, I know those few people that own Strad. violins and cellos etc. have insurance policies for their instruments.. because they are around $20k + lol.. but what about those who have like vintage basses? .. do they offer insurance policies for them? I say this because my P-bass was nearly stolen if it weren't for a total stranger. I put my P-bass on the counter to get worked on and this kid was trying to play his bass about 10 feet away so I went over (probably less than 10 feet actually as I only took 2 steps) and I was showing him some stuff to play.. when a guy had a running start grabbed the bass and kept going.. until an older gentleman jumped in front of him and bear hugged my guitar which in turned made the guy trip and fall and 2 guys from the music store jumped on him (my baby didn't even go out of tune! lol) .. needless to say I took the older gentleman out to lunch for his courageous effort.. he didn't even know what the guitar was worth to me, he had no idea what it was lol.
But I digress... Does anybody offer insurance policies for our kind of instruments?

I own several vintage instruments, and I have them on my homeowner's policy. You might want to ask how much the rates are if you actually take them out of the house. Some insurers charge more if you gig with them, make money as a player with them, etc.

My view is that if you're going to pay the money to get a vintage or custom instrument, you might as well factor in insurance. An investment (and it is one, if only in emotional terms) in an instrument you truly enjoy and care about is worth the extra few bucks it takes to insure it against theft, loss, etc.

My two cents,

Alan

[Chef]

$25,000 worth of coverage, my cost was about $250 per year. I think I need to do that...thanks.

Originally Posted by phogchris

Or just go here:

www.musicproinsurance.com

[Chef]

Well, so far I've contacted the three vendors suggested inside this thread...and hear back from none of them

[Chef]

Originally Posted by Sadowsky

I recommend Ellis Hershman at Heritage Insurance. They specialize in musical instrument insurance.

ellish@musicins.com
(800) 289-8837

Roger

Matt Hershman just returned my call, had the best rate of the three companies I talked to, and was quite a gentleman to talk to. Thanks for the lead Roger

[rhythm]

Hi,

I insure my Spector with musicguard.co.uk Costs about £5.64 a month, which includes public liability insurance etc.

Well worth it IMO, I cant afford not to have an expensive instrument such as that not insured!

[acexxxoasis]

Iva had guitars stolen and a couple amps taken but the real bummer when I was in california my uncle john has alot of gear but he doesnt play out he had a 67 fender mustang that his father has owned since it was brand new was stolen along with a 1987 charvel a custom shop les paul a 50th anniverssary les paul black beauty and matching E355 dot and a 1962 fender P a 1973 jazz a kustom tuck and roll matching 2x15" cab and head a marshall plexi head and a marshall 1960B

he got the mustang back and the kustom but everything else wasnt recovered I forget how much he said it was all worth but yeah his homeowners insurance didnt give him squat

but the worst part is it was his "best friend" that "needed" money for drugs

[Johnny Crab]

In the 80's my home(and the band's practice place!) in New Orleans was robbed and then vandalized. A major insurance company paid under my homeowners policy for equipment theft+home damage. My policy was cancelled shortly thereafter(I'd been with them for about 15 years!). Police did paperwork and left...PERIOD. Visible shoeprints were available as were fingerprints on a brass backdoor knob(polished by myself and NEVER used until the scumbag broke the glass to reach in). Police report, photos of gear, and receipts were required(and had!).

Fast-forward to Texas since 1989....recently, I did the spreadsheet thing with ALL of our family's belongings and got a real eye-opener when EXCEL did it's =sum function for a total. Reading the fine print in our current policy had exclusions and a magic sentence that said "a total of $1000 maximum for each occurence" would be paid. This meant if a computer or big screen gets hoisted OR a home fire happens or it all gets stolen...EVERYTHING ON THE EXCLUSION LIST IS GONE(TVs, music gear, computers, firearms, cameras, audio-video equipment, etc.) and we get a check for the astounding sum of $1000!!!

Who are the BEST current suppliers of musical equipment insurance?
My current "(non)provider" is about to get told where to shove their policy and it's exclusions. Thanks for any responses and READ THE BORING LAWYERSPEAK POLICY...EVERY WORD + SENTENCE. If you have ANY questions, call the underwriter to explain. Do NOT rely on your friendly insurance person....

[scatman]

Good post!

I gotta look at my policy. And I've got 2 American made P-Basses, a Japanese Jazz, a Musicman and a GK Microbass Amp. Add to that a Fender BXR 200 Amp I leave at my church!

[Tony G]

I realized lately, that I ensure almost everything of value that I own. My home, cars, wife's jewelry, etc., but I have never insured my gear. I added up the retail value of each item I own, and found that my five major pieces of gear are worth more than $6500. I figured it was time to insure this stuff.

I am just a weekend warrior playing a few gigs a month, but there is plenty of dangers to my precious equipment to not have insurance on them. What if some drunk kicks in my epifani cab or knocks one of my basses over braking the neck? The thought of theft bothers me more as that is so common.

So I called the insurance company that I do almost all of my business with. They have a "musical instruments and equipment" policy under thier "valuable personal property" plans. I asked them all the scenarios I could think of, including what I listed above, or others. One of my concerns is that I occasional leave some gear at my drummers house where we rehearse. I was told that this policy has "world-wide" coverage, and in turn would be covered there or anywhere from the event of damage or theft.

So after giving all my equipment info, including make, model, and serial numbers, I am insuring $6500 worth of gear for $28 a year.

How do you like that for peace of mind!!!

[matrok]

Originally Posted by xgabriel

So after giving all my equipment info, including make, model, and serial numbers, I am insuring $6500 worth of gear for $28 a year.

May I ask through who?

[Tony G]

Originally Posted by matrok

May I ask through who?

USAA

[matrok]

Open to military personnel only? Guess I'll have to check my homeowners.

[Tony G]

Originally Posted by matrok

Open to military personnel only? Guess I'll have to check my homeowners.

Yeah, I should have mentioned that....

[billjr]

I am a State Farm Insurance agent in SC, and can give a general description of how our policies work to cover musical instruments.

1) Hobby musician, no renumeration: Your instruments are covered under a homeowners (HO) and renters (R) policy just like any other personal property you own. There is one total limit for your property, and your property is covered anywhere in the world. While some types of items (i.e. money, jewelry, computers, etc.) do have special limits, musical instruments do not. The only problem is that this personal property coverage is named peril coverage. Your property is only coverred for the perils named in the policy, not for all accidental damage that may occur. To get the broader all-peril coverage, you will need to take out a Personal Articles Policy (PAP), but you will be unable to get that if you are out playing in bars, etc. A PAP can also get you a lower deductible than you probably carry on your HO or R policy.

2) Professional, with renumeration: Your coverage under an HO or R policy is limited to that of any other business property - $1,000 on premises, $250 off premises. A seperate commercial type policy would be necessary to cover your equipment.

This is a pretty general explanation, so I highly suggest that if you have any HO or R coverage, then call your agent or company to find out specifically how your equipment is covered. Every company is different, and even the same company may have differing coverages in different states. Also find out what your deductible is. Mine is much higher than the value of my musical equipment anyway, but I could always take out the PAP to get better coverage and a lower deductible.