Music Equipment Insurance

Monte · #1 07-08-2003, 02:22 PM

Just a heads up for those of you who insure your equipment:

With some changes to my equipment, I changed my policy and found out that
Music Pro Insurance has raised their rates again to $1.00 per $100. This
puts them now more expensive than Merz-Huber, which has rates of $0.75 per
$100. Both are all-risk policies.

However, after checking both pros and cons, I stayed with Music Pro and
thought some might be interested as well.

First, MusicPro has a lower deductible of $100/ per loss, while Merz-Huber
is $500 per loss. That might not seem worth it, but under Merz Huber, if
some clumsy stagehand decapitates your scroll you may appreciate the
difference. There are lots of repairs that can be needed to a doublebass due
to accident that cost under $500.

Second, MusicPro will insure your non-instrument equipment, like amps,
transducers, mics, etc. Merz-Huber is only instruments. Also, MusicPro will
cover computer equipment if you use it.

Last, MusicPro is less hassle. Merz-Huber requires you be a member of ISB
(not a bad thing), sale receipt, recent appraisal, and pictures. None of
that required from MusicPro.

I'm in my 3rd year with them and have not had a claim with them, but know
someone who was on tour with someone who had a valuable guitar stolen or
destroyed (can't remember which now), and they were paid promptly full
replacement value.

MusicPro renews everyone on 6/20, so if you join later they will pro-rate
you for the remainder of the year.

Anyway, thought it might be helpful to some. If you play gigs, be aware that
your homeowners policy will NOT cover you in most cases if the mishap
happens outside your home.

The websites are:
http://www.musicproinsurance.com/
http://www.maestronet.com/ad/merz-huber.html

Monte

tsolo · #2 07-08-2003, 02:33 PM

Great info, Monte.

swingfingers · #3 07-09-2003, 08:40 AM

Also, as of a year or so ago, Merz Huber raised their minimum insurance rate from $100 to $200 per annum. Does Music Pro have a minimum?

Monte

Quote:

Second, MusicPro will insure your non-instrument equipment, like amps, transducers, mics, etc. Merz-Huber is only instruments.

Merz-Huber told me they would insure my amp etc. – any gear I needed to play my instrument. Have yet to actually follow through on this because I haven’t gotten an appraisal yet. Anyone else been able to do this with Merz-Huber?

Monte

Quote:

Merz-Huber requires you be a member of ISB (not a bad thing), sale receipt, recent appraisal, and pictures. None of that required from MusicPro.

Actually, Merz-Huber requires sales receipt OR appraisal – and I have never been asked for pictures. Does MusicPro not require any evidence of your gear or its worth??

Does sound like MusicPro is very worth looking into. Thanks, Monte! Anyone else have experience with them?

Monte · #4 07-09-2003, 08:45 AM

Sorry for the misinformation Swingfingers; my info came from the website and a conversation with a rep on price. I assumed that they didn't cover equipment from what she said.

I think you're right; it was either/ or on receipt or recent appraisal. She said she needed 2 pictures; one of the back and one of the front.

Music Pro requires nothing from you.

Monte

Monte · #5 07-09-2003, 08:46 AM

Quote:

Originally posted by swingfingers
Also, as of a year or so ago, Merz Huber raised their minimum insurance rate from $100 to $200 per annum. Does Music Pro have a minimum?

Yes, it is $50/ annum.

Monte

swingfingers · #6 07-09-2003, 04:15 PM

MusicPro sounds pretty impressive. Thanks, Monte!

swingfingers · #7 09-29-2003, 02:57 PM

Since reading and posting in this thread I've begun to try to get insurance through MusicPro. My Merz-Huber Insurance is up in October, and at the moment, it only covers my DB (not my electrics, amps etc.) due to the fact that it is the only instrument I have an appraisal for.

So about a month and a half ago, I contacted MusicPro, printed one of their forms and faxed it to them. They told me it could take up to five days to get back to me (more than their website advertised time) but I thought that was very fair. After almost 2 weeks I called them several times and left a voice message as I couldn't get through. Finally, a few days later, a fax came through with an estimate. As I would like to insure my stuff asap I called them right away to give 'em my credit card info and seal the deal. Again, no one there, so again I left a message with my phone # and full details. It has been almost 2 weeks since then and still no response. I am starting to wonder that if they are this unresponsive when a potential customer is calling to give them money, what would they be like in dealing with a claim??

Whenever I have called Merz-Huber, I have gotten someone on the phone right away. I have had to use them for a claim and found them very responsive. I'm beginning to think I should suck it up and find appaisals for my other gear and stick with Merz-Huber. I really don't want to do this because I've got quite a bit of gear that would cost both a lot of time and $$ to have appraised. On the other hand, MusicPro's no need of appraisals and lower deductibles don't mean much if you can't get a rep on the phone.

Am I being too critical? What have others' experiences been?

tsolo · #8 09-29-2003, 08:42 PM

I got an estimate really quick. I emailed them right away that i wanted the coverage. I emailed them again, emailed them again... That was in mid July. Only insurance I have right now is TWO BIG dogs that won't let any one in the yard if I'm not there. I'll try one more time - maybe they are REALLY busy. Maybe i'll try home owners and auto insurance riders.

**Bob Gollihur** · #9 09-29-2003, 11:03 PM

They have been slow from the very beginning, and since they have gotten bigger due to sourcing insurance through a Musicians Friend marketing relationship it does make them slow.

OTOH, they have always come through with the info and policy updates I needed. Also, I just got an updated policy from them, after my renewal, and it mentions that they intend to put all policy info online for policyholder access and for making changes. Even if it takes them a year to do it, it would be a welcome feature.

swingfingers · #10 10-20-2003, 01:12 PM

Merz-Huber's minimum is now $300!!

Musci Pro does not answer my e-mails or telephone calls.

Does anyone know any viable alternatives??

T-Bal · #11 10-20-2003, 10:54 PM

Marsh / Seabury & Smith, 800-503-9230. $100 deductible. Premium roughly $1 per $100 insured. I've never had a claim, been with them for a year.