Insurance Question

Discussion in 'Basses [BG]' started by Ariabass, May 30, 2018.

  1. Ariabass


    Mar 29, 2008
    I'm not primarily a bass player (but enjoy playing), but got this bass as an inheritance. 1968 tele that's been stripped down and modified back in the 70's by my uncle who played it professionally for years. Obviously nowhere near original condition and I have no plans to restore it because I think it's great the way it is. Question though, I have to get a valuation for insurance if I think something is worth over $2,000. Think this is worth getting someone to write a value up for it in this modified condition? Again, not selling, just want to know if I should list it on my home insurance as something worth over $2,000.00. Thanks!


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    Krizz likes this.
  2. For insurance purposes, they usually require an independent 3rd party valuation. Maybe bring it to a music store specializing in vintage instruments. I don't know if they'll charge you a fee for the valuation, but I imagine that should be sufficient.
    Clark Dark likes this.
  3. Ariabass


    Mar 29, 2008
    I guess my question is more along the lines of should I even bother? Is this bass possibly worth more than 2,000? There's really nothing quite like it on the web for comparison.
  4. John Cribbin

    John Cribbin

    Jan 5, 2018
    How about ringing your insurer? I did as I was concerned at having a PRS worth a fair few handfulls of the folding stuff in the house. After checking, I was told that musical instruments didn't need to be declared and were covered. It will depend on your particular policy.
  5. Bass Man Dan

    Bass Man Dan Endorsing Artist: Ned Flanders' Bass-a-Reeno

    Oct 20, 2017
    Just read the special limits section. While policies are often confusing, the special limits section is pretty straightforward.
    And also, don't believe much of what an agent may tell you regarding specific coverage. The majority don't have a clue what the policies they sell actually say.
    walldaja and ELG60 like this.
  6. Ariabass


    Mar 29, 2008
    For more disclosure, I moved to Ireland. Under Irish policies like this anything in your house, including my guitars (I asked) has to be valued. It's just a pain and I have no idea whether this is worth over 2,000 or not. Sounds like maybe its not an easy answer whether this has that much value? If so, I'll have to find a guitar shop that would issue me a written opinion on value. Doesn't have to be that formal.
    Bass Man Dan likes this.
  7. fretter


    May 24, 2012
    How much would it cost you to find another? That could be researched online.
  8. John Cribbin

    John Cribbin

    Jan 5, 2018
    Hah, Irish insurance is a bit weird. I tried to get insurance on my place. I declared that I had a claim in the UK, but didn't know the final settlement cost. No one would insure me. I was told to insure in the UK as a holiday home in Ireland and I wouldn't have a problem!
  9. Chico Ruger

    Chico Ruger

    Dec 11, 2014
    Western NC
    Nice looking bass.
  10. Falsecrack


    Nov 21, 2017
    That's a beaut. I'd love to own that
  11. Krizz


    May 26, 2018
    Columbus, OH
    Between the age and sentimental value, I'd get it valued, regardless of the insurance. Stuff with that kind of age fascinates me, especially family things.

    Very cool bass!
  12. Krizz


    May 26, 2018
    Columbus, OH
  13. B-Mac

    B-Mac Just like Aretha Sang... R-E-S-P-E-C-T Supporting Member

    Take it to a registered professional appraiser.
  14. Ariabass


    Mar 29, 2008
    Thanks all for your input. Vintage instrument appraiser valued it at 3100 EUR. Said it's the type of thing you just don't know with any real certainty until you auction it or put it up for sale. But that was his professional opinion. Regardless, I love playing it and it's a great piece to remember my uncle by. He was one cool cat.
    Clark Dark likes this.
  15. Ariabass


    Mar 29, 2008
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    Primary TB Assistant

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