Does anyone here have insurance for their instrument?

Blazemourne · #1 10-19-2007, 10:55 PM

If so, what are some good musical instrument insurance companies?

Jason Sypher · #2 10-20-2007, 06:13 AM

I've got insurance with Merz Huber. It costs me about $350 a year and that insures my bass and equipment up to about $30,000. I did have to join the International Society of Bassist to get it which costs $50 a year.
I would never have a bass like the one I have without insurance. My little Subaru however....

Eric Hochberg · #3 10-20-2007, 08:04 AM

I have insurance through Seabury and Smith, around $350 for $36,000 (two basses and a French horn). I believe Merz Huber requires a written appraisal and Seabury doesn't. I got it through the AFM.

Never tried to collect so I don't know how that would go. My luthier does alot of work through Merz, so I know they pay up.

Blazemourne · #4 11-02-2007, 04:24 PM

Are there any that doesn't require you to join a specific organization?

Kam · #5 11-02-2007, 04:57 PM

I have musicpro..I can't speak to its quality since I haven't needed to file a claim yet, but it is cheap and easy.

MingusAmongUs · #6 11-02-2007, 05:35 PM

Hey thanks for the reminder. With a new bass I have to look into this. I know it's covered under homeowner's, IF something happens in the home....

Blazemourne · #7 11-03-2007, 12:36 PM

Does musicpro's reimbursement go up to 7000$ if like my instrument got lost?

jumpinin · #8 11-03-2007, 01:45 PM

Quote:

Originally Posted by MingusAmongUs

Hey thanks for the reminder. With a new bass I have to look into this. I know it's covered under homeowner's, IF something happens in the home....

I'm not certain of this but if you are a professional musician, there may be limits to how much insurance will cover for an instrument under your home policy. And I believe being a member of an AFM local is enough for the company to claim the instrument was for professional use.

MingusAmongUs · #9 11-05-2007, 10:45 AM

Quote:

Originally Posted by jumpinin

I'm not certain of this but if you are a professional musician, there may be limits to how much insurance will cover for an instrument under your home policy. And I believe being a member of an AFM local is enough for the company to claim the instrument was for professional use.

Thanks. Will keep that in mind. Just have to find out about the policy I currently have. Not a union member so that's not a problem but I do claim tax deductions on purchases.

Monte · #10 12-09-2007, 12:04 PM

Quote:

Originally Posted by Kam

I have musicpro..I can't speak to its quality since I haven't needed to file a claim yet, but it is cheap and easy.

I've been with them for years now and they are great. I had to file a claim when one of my tuners and scroll were damaged by someone banging a chair into them, and they were very responsive and I got a check for the repairs minus the deductible within a week.

brianh · #11 12-20-2007, 08:28 PM

I use State Farm because I have my auto and home owner's insurance with them. I pay about $130/year for all my stuff, which with my double bass, bow, amps, electric basses, etc....is about 30-40k (woah...). It's ok I guess, but Ive never had a claim.

I hate all insurance companies and SF is no exception.

salcott · #12 12-21-2007, 11:36 PM

Clarion-1 800 vivaldi. They have paid up bigtime for me a couple of times with no questions asked.

LeslieD · #13 08-25-2009, 02:47 PM

I'm getting a new insurance policy for my instruments. Anyway, I'm a bit perplexed by trying to put a value on one of the instruments. I have appraisals, certificates, or sales receipts for my higher-end gear and my more recent purchases.

I'm just trying to figure out the replacement value for an instrument that my parents bought me in the 1970s (an Eberle plywood bass). So here's the problem: I know what my parents spent and I know how much $ I've put into it since them (repairs, upgrades). That's a big total of $1400 or so. In some ways, the instrument is worth less now (because it's plywood and ISN'T a Kay I don't think it has appreciated), but to actually replace it with an equivalent instrument exactly how much would that cost today? And how would I go about figuring out what that dollar amount would be? Preferrably I'd want another Eberle that's in about the same condition, and also one of the same vintage. Is that unreasonable to specify/request?

I've talked about it w/ my luthier, but he doesn't think much of this instrument (he strictly plays classical music, but for me it's the best bass I've ever played bluegrass and folk music on--and other bassists have also made similar remarks about this bass). I've played a few Kays that compare pretty nicely to it (again, just for bluegrass), but they are currently valued in the 3-4k range. Should I put THAT down as a reasonable replacement value? The plywood Shens and Eastmans I've played (which are plentiful and easy to get) don't even compare.

Thanks for any suggestions/thoughts!

Eric Hochberg · #14 08-26-2009, 12:41 PM

Find out what new or used Eberles (or any bass that compares to yours) are selling for and add to that the cost of improvements that your bass has had done (your local luthier can help you there). You want to make sure you have enough money to replace your bass with something comparable in the way it plays and sounds. It doesn't matter what your parents paid for it and what past improvements cost. Current prices are all you need care about so it can easily be replaced with another comparable bass for the insurance amount.

fingers · #15 08-26-2009, 02:19 PM

musicpro

shadygrove · #16 08-26-2009, 08:44 PM

Quote:

Originally Posted by LeslieD

...I'm just trying to figure out the replacement value for an instrument that my parents bought me in the 1970s (an Eberle plywood bass). So here's the problem: I know what my parents spent and I know how much $ I've put into it since them (repairs, upgrades). That's a big total of $1400 or so. In some ways, the instrument is worth less now (because it's plywood and ISN'T a Kay I don't think it has appreciated), but to actually replace it with an equivalent instrument exactly how much would that cost today? ...

Sorry to have to tell you this, but $1400 is more than I have into my new-old-stock '92 Eberle ply purchased from Ideal Music a year ago February. IIRC the price was same as now, $950 with basic setup, plus shipping fom NYC to Washington State when gas was $4.00 a gallon and I added an adjustable bridge.

Someday Ideal's warehouse will sell out and then the market value of these basses will go up. I also love mine for bluegrass, old-time and folk... In an all acoustic jam it cuts through a bunch of fiddles, banjos and guitars better than anything else I've played.

LeslieD · #17 08-27-2009, 01:17 PM

Thanks for the feedback ehochberg and Shadygrove!

Quote:

Originally Posted by shadygrove

Sorry to have to tell you this, but $1400 is more than I have into my new-old-stock '92 Eberle ply purchased from Ideal Music a year ago February. IIRC the price was same as now, $950 with basic setup, plus shipping fom NYC to Washington State when gas was $4.00 a gallon and I added an adjustable bridge.

Someday Ideal's warehouse will sell out and then the market value of these basses will go up. I also love mine for bluegrass, old-time and folk... In an all acoustic jam it cuts through a bunch of fiddles, banjos and guitars better than anything else I've played.

I guess I should just buy a back up Eberle. Anyway, I guess I'll add the cost of my adjustable bridge and the new endpin to the $950 plus shipping. That's still about $1300 or $1400.

I definitely agree, Shadygrove/Jeff, that the Eberle is just the best for the acoustic jams that I often play at (and it definitely does "cut through" the masses of fiddles, banjos and such). I can't exactly put my finger on WHY it's so good for that. I just wish mine wasn't so "orange."

Thanks again for the comments!

Eric Hochberg · #18 08-27-2009, 03:20 PM

Quote:

Originally Posted by LeslieD

Thanks for the feedback ehochberg and Shadygrove!

I guess I should just buy a back up Eberle. Anyway, I guess I'll add the cost of my adjustable bridge and the new endpin to the $950 plus shipping. That's still about $1300 or $1400.

When they sell out at that price you might be out of luck there, so I would insure it for the cost of a decent ply like a Shen, Christopher, La Scala or maybe another European plus improvements and set up.

shadygrove · #19 08-27-2009, 07:59 PM

Quote:

Originally Posted by LeslieD

Thanks for the feedback ehochberg and Shadygrove!

You're welcome !

Quote:

...I guess I should just buy a back up Eberle

I've had that thought too, but would have a hard time explaining to Mrs. Shady why I need a bass just like my other bass. Let's see...it's an investment, yeah that's it

fdeck · #20 08-27-2009, 09:34 PM

Quote:

Originally Posted by jumpinin

I'm not certain of this but if you are a professional musician, there may be limits to how much insurance will cover for an instrument under your home policy. And I believe being a member of an AFM local is enough for the company to claim the instrument was for professional use.

I am pretty sure my homeowners policy specifically excludes instruments that are used professionally. I have a "rider," and my agency has a copy of the appraisal for the bass plus receipts for the little stuff.