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Insurance for my bass.

Discussion in 'Miscellaneous [BG]' started by creis2, Nov 1, 2013.

  1. creis2


    Nov 11, 2011
    Cambridge, MA
    I never considered getting it, but now that I'm moving back to NYC, I'm considering it.

    I have a good renters policy and I'm not too concerned about something happening when I gig or travel, I'm mostly concerned about riding around on the subway late at night.

    Could anyone recommend an insurance company that will cover a bass or two in the event I'm mugged or something?
  2. garp


    Feb 7, 2009
    Connecticut USA
    No worries — there’s no crime on the MTA. :p

    In all seriousness, you may want to do a search here on “insurance” — it will yield lots of good advice, such as this quasi-recent thread. I doubt that an insurance carrier will issue a Subway Rider’s rider, but maybe you’ll find the exception.
  3. creis2


    Nov 11, 2011
    Cambridge, MA
    That's what I was kind of concerned about. I used to carry a mexican P with me to practice and gig with my nicer stuff.

    I don't plan on gigging nearly as much as I used to, so I would like to play my nicer stuff at practice. It's not like I'm carrying a pre-cbs fender with me, just an American P.

    Still, if someone swipes a $1000 bass from me, It's unlikely I can buy a new one any time soon.
  4. Itzayana


    Aug 15, 2012
    Oakland Ca
    I am not comfortable walking or riding public transportation alone in any major US city with an instrument of any kind. It is a crime of opportunity waiting to happen.
    There are really a lot of crack-heads and crazies out there. To them that case looks like another score. They don't give a rats ass if it's a Mexican P-bass or a '64 Jazz.
    Wouldn't be half so bad if they just took things but some of those freaks think that they need to mess people up along the way.
    If you can't arrange for your own car, take a cab from your front door to the gig.
  5. creis2


    Nov 11, 2011
    Cambridge, MA
    I carried the mexican P around not to prevent theft, but in the event of the theft, I would be out of a $400 guitar as opposed to a $1500 guitar.

    Unfortunately, hailing a cab in a outer borough is next to impossible. In NYC, you can't call for a yellow cab, you have to call for a towncar, which isn't cheap.

    So transit is pretty much the only option in nyc.
  6. Bardolphus

    Bardolphus Put some stank on it... Supporting Member

    Jan 8, 2007
    Austin, Texas
    My apologies if you already know this but, I'd be careful with relying on your renter's policy to cover equipment loss at gigs unless you've outlined specific circumstances with your agent/company and it's been clarified that your equipment would be covered. Apparently, from what I've read, simply making money using the equipment you believe is insured will exempt it from coverage under some home owner's or renter's policies. Maybe not yours, but I've seen that mentioned a few times.

    I use Music Pro Insurance. The gear in my policy is covered under virtually every circumstance you can think of - not only theft but damage caused by me or someone else - with a $100 deductible (per incident not per item).
  7. creis2


    Nov 11, 2011
    Cambridge, MA
    Thanks for the recommendation to Music Pro Insurance.

    Would you happen to know if I need to have my stuff appraised?
  8. Bardolphus

    Bardolphus Put some stank on it... Supporting Member

    Jan 8, 2007
    Austin, Texas
    I didn't have to - I just filled out my equipment list with replacement values.
  9. creis2


    Nov 11, 2011
    Cambridge, MA
    I'm going to see if my renter's insurance covers an item being stolen out of the home. I'm not too concerned about theft in my practice space, or while gigging.

    When I leave practice, I'm alone on the subway carrying my guitar in a gig bag. That's my main concern.

    I have a pretty posh renter's policy, so I should give them a call. I don't gig with this guitar, it's a practice only.
  10. Stick_Player

    Stick_Player Banned

    Nov 13, 2009
    Somewhere on the Alaska Panhandle (Juneau)
    Endorser: Plants vs. Zombies Pea Shooters
    I would NOT count on "renters insurance". You should have separate riders for your instruments, in any event.

    If the insurance company even slightly detects that you are only a semi-pro to pro, they probably will not cover your loss - unless there is a separate rider. Taking your instruments out of the confines of your apartment may also negate a renters policy.

    Get a PRO Musician policy. It's cheap. MusicPro is a good choice.
  11. creis2


    Nov 11, 2011
    Cambridge, MA
    I just spoke to my brother who used to sell insurance years ago. I guess I'll relay the info, if anyone is ever wondering.

    He said if I'm looking to insure a single small ticket item (like a $800 guitar), he said get a rider. They usually charge about 5% of the item's worth annually. He said MusicPro is supplimental insurance, and if it's a small ticket item, it will cost more to insure. He said if I'm insuring everything, a place like musicpro is a good choice.
  12. basspraiser

    basspraiser Jammin for the Lamb! Supporting Member

    Dec 8, 2006
    Chicago - NW Burbs
    You may already know this but renters and home owners insurance have significantly limited coverage for items such as musical instruments.

    You should really read your policy. You may be surprised at the limits on your policy.

    I have a specified personal property policy in addition to my home owners policy. It covers all of the families' instruments, my wives jewelry, my star wars collection and a few other things.

    It is rather cheap and has no deductible.

    The issue is the instruments are not covered while gigging....that is the one limitation of my policy.

    Good luck...
  13. creis2


    Nov 11, 2011
    Cambridge, MA
    Yeah, if I gigged out a lot, I would defiantly get a specific policy. I'm just looking to cover a few things, especially when I travel on the subway. That's where my stuff is most vulnerable.

    A question, though. Do you need to provide receipts and serial numbers on your equipment?
  14. Richland123


    Apr 17, 2009
    This must be your lucky day. I am in training for insurance right now and we are covering renters insurance. You can schedule property including musical instruments as an endorsement on your renters insurance policy. You can also take out a separate musical equipment insurance policy with several other companies including CHUBB Insurance Company. I also used to work for a different insurance company years ago and wrote musical instrument endorsements on renters and homeowners policies. Just call your renters insurance agent or company and add it to the existing policy.
  15. creis2


    Nov 11, 2011
    Cambridge, MA
    Thanks everyone. My go to bass is an american P with a warmoth neck, so it no longer has a serial number.

    How would I appraise such an instrument when calling for a quote?
  16. I recently insured my new EBMM Sabre Classic through my home insurance. Sent 'em a receipt with serial number, and for like 20$ a YEAR, I'm covered.
  17. kulit17

    kulit17 Wal Collector #35 Supporting Member

    Just curious if anyone has coverage using either MusicPro insurance or Anderson Group music insurance. I've gotten quotes from both companies but MusicPro's premium was twice the amount compared to AGM. :confused:

    Also how easy/hard are the claims process?

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