It’s a bass Trevor worked on and set up, but not one he built specifically. It’s the 2022 ISB Build-a-bass I’ll be insuring. He recommended Clarion, but I’ve found some mixed reviews of their service.
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Double Bass Instrument Insurance Options?
- Thread starter Keith Rawlings
- Start date
BobDeRosa
Commercial User
- May 16, 2012
- 2,445
- 4,403
- Disclosures
- Owner, Tritone Jazz Fantasy Camps
FYI, @Ketbass, it sounds as if your Inland Marine covers more than just music tools, but I had an IM through my homeowner's insurance. They were charging me $500 a year. Once I discovered Music Pro Insurance, the cost of even better coverage dropped to $175 (I think). You might want to do some shopping at places like Music Pro, Clarion and Heritage.
I use Total Dollar, which insures through Chubb, a huge insurance company. For something around 90K worth of coverage, it's $350/year.
Musical Instrument Insurance | Get A Quote Online | Total Dollar Insurance
Musical Instrument Insurance | Get A Quote Online | Total Dollar Insurance
I've never looked into it, but I would guess that the insurance industry considers musical instruments as good risks, so the rates aren't outrageous. We do tend to protect and take care of our stuff.
Keep in mind that insurance companies earn money by taking in more in premiums than they pay out in claims.
If the loss of a particular item would cause you deep, lasting financial distress, by all means insure it. But if you can simply scrimp for two months and buy its replacement, I'd eschew insurance.
Any one of my musical instruments could be replaced with two weeks' salary or less. If I had to replace one of them, it would NOT cause me deep, lasting financial distress. I'd still be able to pay all my bills. Therefore, I don't carry insurance on any of them.
Thinking that everything you own has to be insured is a misunderstanding of the purpose of insurance. Insurance is to protect you against unlikely but catastrophic events. If the event is common (annual teeth cleaning), then you'll pay more in insurance than the expense. If the event is not catastrophic (your cell phone craps out and you have to pay $150 for a replacement) then you're just giving them money that (on average) you will never get back.
A $100,000 bass? Yep, insure that baby. A $1500 bass? Almost certainly not a good ROI.
If the loss of a particular item would cause you deep, lasting financial distress, by all means insure it. But if you can simply scrimp for two months and buy its replacement, I'd eschew insurance.
Any one of my musical instruments could be replaced with two weeks' salary or less. If I had to replace one of them, it would NOT cause me deep, lasting financial distress. I'd still be able to pay all my bills. Therefore, I don't carry insurance on any of them.
Thinking that everything you own has to be insured is a misunderstanding of the purpose of insurance. Insurance is to protect you against unlikely but catastrophic events. If the event is common (annual teeth cleaning), then you'll pay more in insurance than the expense. If the event is not catastrophic (your cell phone craps out and you have to pay $150 for a replacement) then you're just giving them money that (on average) you will never get back.
A $100,000 bass? Yep, insure that baby. A $1500 bass? Almost certainly not a good ROI.
I've had a local insurer for many years who has been great. They specialize in professional musicians so they know their business. It's interesting that according to an agent I talked to there a while back most claims are from theft, mostly from vehicles. The agency makes a point of reminding their clients to not leave instruments in a vehicle unattended-words to live by. Basses do get stolen.
I’ve used Clarion for several years. No complaints, but no claims either.
As has been said, if you use your instrument(s) to make money they won’t be covered by homeowners insurance. If you don’t use the instrument(s) to make money, there may be a limit to the value you can claim on HO ins (hence riders for jewelry etc).
As has been said, if you use your instrument(s) to make money they won’t be covered by homeowners insurance. If you don’t use the instrument(s) to make money, there may be a limit to the value you can claim on HO ins (hence riders for jewelry etc).
I’ve been with Music Pro for many years. I had one rather large claim when both my neck and endpin block cracked. They handled it very professionally and I will stick with them as long as they’re in business. Very reasonable yearly rates that cover all my instruments and peripherals. Highly recommended.
Just because you CAN doesn't mean you SHOULD. See my post above about the purpose of insurance. Insurance companies will happily take your premiums to insure stuff that you shouldn't bother insuring, but that doesn't make it a good choice to do so.
Here’s a suggested list of questions to ask when choosing an insurance provider for your gear:
1. Who sets the replacement cost value of an instrument, and how?
2. Is the gear insured if I use it at a paid gig even once? (With many general homeowners policies the answer is “no”).
3. Are there exceptions to the coverage provided for loss or damage? (Some policies exclude thefts from motor vehicles from coverage, and some homeowners policies exclude thefts that occur at a place owned by somebody other than you).
4. Are repair costs covered at all, and are they covered if the damage was accidentally caused by you?
5. Who determines how much will be paid for the repair (your repair shop or the insurance company), and can you choose your own repair shop to do the work?
5. If there is a loss in value caused by a repair is the loss in value covered along with the repair costs?
Insurance policies are contracts. That means each company has their own rules, and if you don’t read the policy, you won’t know the answers to these questions.
Also, unless somebody on Talkbass or wherever has read your policy they don’t know what’s covered or isn’t, or how it works. Please don’t listen to such advice, as well-meaning as it might be. I know how my Heritage Insurance policy works, but I have no clue about any other policy in the world.
Do not assume that you know what your policy covers if you’ve never read it. Once you sign the insurance agreement, you are covered by its terms, whether or not you think they are fair.
Assume nothing. Read the policy.
1. Who sets the replacement cost value of an instrument, and how?
2. Is the gear insured if I use it at a paid gig even once? (With many general homeowners policies the answer is “no”).
3. Are there exceptions to the coverage provided for loss or damage? (Some policies exclude thefts from motor vehicles from coverage, and some homeowners policies exclude thefts that occur at a place owned by somebody other than you).
4. Are repair costs covered at all, and are they covered if the damage was accidentally caused by you?
5. Who determines how much will be paid for the repair (your repair shop or the insurance company), and can you choose your own repair shop to do the work?
5. If there is a loss in value caused by a repair is the loss in value covered along with the repair costs?
Insurance policies are contracts. That means each company has their own rules, and if you don’t read the policy, you won’t know the answers to these questions.
Also, unless somebody on Talkbass or wherever has read your policy they don’t know what’s covered or isn’t, or how it works. Please don’t listen to such advice, as well-meaning as it might be. I know how my Heritage Insurance policy works, but I have no clue about any other policy in the world.
Do not assume that you know what your policy covers if you’ve never read it. Once you sign the insurance agreement, you are covered by its terms, whether or not you think they are fair.
Assume nothing. Read the policy.
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Thank you for the advice. I’ve narrowed it down to three companies and I’m seeking quotes from each.
Hopefully at least one of them will specialize specifically in musical instrument insurance. If not, keep looking.
This is how i approach it. Insurance can be extremely valuable or a borderline scam. One has to really do the math for their situation, and prove that it's a better solution than simply stuffing money into an interest bearing savings account.
I got my Bass insured by a UK company called Lark insurance, which a lot of Irish musicians use.
Lark specialize in musical instrument insurance as the name suggests.
It is possible they may insure instruments in other European countries.
I had to get by Bass valued by the maker with a certificate, which I did in 2015.
Haven't had t claims yet, but by all accounts they are very reasonable when it comes to claims.
Lark specialize in musical instrument insurance as the name suggests.
It is possible they may insure instruments in other European countries.
I had to get by Bass valued by the maker with a certificate, which I did in 2015.
Haven't had t claims yet, but by all accounts they are very reasonable when it comes to claims.
I've been researching insurance since the rider on my homeowner's is getting fairly costly. What I'm learning is that none of the companies reveal their terms online. Apparently you have to ask for a quote to find out what they offer. Annoying.
