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INSURANCE

Discussion in 'Miscellaneous [DB]' started by G-force, Jun 5, 2005.


  1. G-force

    G-force

    Jul 1, 2004
    oslo Norway
    Hello again from the way up north. Who of you can share your experiences with getting insurance coverage for your axe,.
    I recently heard that basses are hard to cover and even worse that the ones who have coverage find it difficult to have air transport covered.
    As i am considering a repatriation to the US of A I need all your support I can get
    Thanks Brothers and sisters
    Your pal
    G-Force
     
  2. larry

    larry Supporting Member

    Apr 11, 2004
    Florida
    Do you have a musicians' union? Our American Federation of Musicians offers us instrument insurance. I happen to have a rider on my homeowner's insurance with a professional endorsement to cover my bass wherever it is.
     
  3. JimmyM

    JimmyM Supporting Member

    Apr 11, 2005
    Apopka, FL
    Endorsing: Ampeg Amps, EMG Pickups
    I'd rather take the chance something gets broken or stolen than pay for insurance. Let's see...I usually take about $4000 worth of gear to every gig, so that would be $40 a month and $480 a year. In 30 years I've had maybe $2500 worth of gear get stolen or destroyed. And the last time an incident happened was about 14 years ago. So I'm way ahead of the game. Insurance is nothing more than legalized gambling, anyway.
     
  4. ispider6

    ispider6

    Jan 30, 2005
    Jimmy,

    I believe in your case, it is appropriate for you not to have insurance. However, for G-Force the case may be different. If you own a bass that's valued at 10k or greater and it were somehow destroyed, stolen or required a very expensive repair, that insurance would sure come in handy. Don't get me wrong, I'm no big fan of paying hundreds of dollars per year to insure something that never gets damaged or stolen but I would never forgive myself if I lost my baby and had no insurance to compensate for the loss. G-Force, I use Anderson insurance (based out of Massachusetts). Thankfully, I haven't had to use it yet but it's not overly expensive. I don't know if it covers losses caused from air travel so I'd have to check on that. Good luck with the search.
     
  5. Freddels

    Freddels Musical Anarchist

    Apr 7, 2005
    Sutton, MA
    The rate is usually per year not month.
    If the cost of the insurance is $1 per $100 of value then to cover $4,000 worth of gear would be $40 per year.
     
  6. Looking at what is listed in your personal profile, I can see why you are concerned, despite my agreeing with JimmmM about insurance generally. My approach was to cover my instruments through a homeowner's policy extension. If you own a home it might be the most economical way to go because the insurance companies charge less for add-ons. It also covers the loss outside of the home. Renters insurance might be similar.

    If your big concern is getting those basses back to the USA, then I would consider shipping them with special packing and insurance just for the trip. One insured DB shipping by TNT (Eastern Europe to USA) I explored about a year ago was quoted as $755, for a $1550 (USD) instrument. The insurance part of the bill was not broken out and I did not buy the instrument, but the quote might be useful.

    I think many of the often airlining players are resorting to EUB's for the "fly here, fly there" kind of tours.
     
  7. Chris Fitzgerald

    Chris Fitzgerald Student of Life Staff Member Administrator

    Oct 19, 2000
    Louisville, KY
    My Homeowner's policy explicity does NOT insure any of my gear because I am a professional musician. I am looking for an insurance policy to cover about $25-30K worth of gear (including basses, a piano, and recording gear), as long as it is good both in and out of the house. Anybody know firsthand if musicpro can/will do this?
     
  8. Uncletoad

    Uncletoad

    May 6, 2003
    Columbus Ohio
    Proprietor Fifth Avenue Fret Shop. Technical Editor Bass Gear Magazine
    I carry an Inland/Marine policy specifically for my music gear. It is a commercial policy as I am a professional musician according to the IRS. It covers loss anywhere under almost any circumstances. Its about $500 per year for $70K replacement cost. $500 deductible. Each item must be listed with details, serial numbers etc. I specify the amount it is insured for and usually choose values that reflect actual replacement costs of Vintage instruments. My independant agent had it underwritten by Auto Owner's insurance. I update the values and gear list twice a year. I won't play an note on a gig without it.

    Insurance is a big protection racket of course but when you are hit with a $20K loss or more it's hard to pony up that kind of cash to get back on the bandstand. Most pro musicians I know couldn't come up with 3 months rent let alone replace a carved double bass out of pocket. It is a ripoff until you need it. I've needed it once and it payed for itself on that one day. I hope I never need it again.
     
  9. Monte

    Monte

    Jan 9, 2001
    New Albany, MS

    Yes.

    I cover my piano, basses, amps, mics, etc. with Music Pro. Slightly less value than yours.

    I've got nothing but good to say about them. Paying my recent claim with them with no hassle really sealed the deal.
     
  10. G-force

    G-force

    Jul 1, 2004
    oslo Norway
    Hey all Thanks it all helps
    G
     
  11. Julie

    Julie

    Mar 6, 2005
    Ft. Worth, TX
    G-force, check out Clarion Ins. at www.clarionins.com. Lots of orchestras use them and I just received a substantial check for work done on my bass. Very good and extensive coverage like inflation guard for new instruments and rental coverage while your inst. is being repaired.
    Julie
     
  12. Chris Fitzgerald

    Chris Fitzgerald Student of Life Staff Member Administrator

    Oct 19, 2000
    Louisville, KY
    Thank you! Making an inventory and signing up is now on my list of things to do this summer. :)
     
  13. JimmyM

    JimmyM Supporting Member

    Apr 11, 2005
    Apopka, FL
    Endorsing: Ampeg Amps, EMG Pickups
    Oh, that price was yearly? Well never mind then...sounds like not a bad idea if you have a lot of gear.
     
  14. G-force

    G-force

    Jul 1, 2004
    oslo Norway
    hey Julie i was told Clarion does not cover basses,??

    Thanks for the info..
    G
     
  15. Julie

    Julie

    Mar 6, 2005
    Ft. Worth, TX
    They cover my bass. I just received a sizable check for repairs to my bass last week. They specialize in musical instruments so I would check out their website.
    Good luck!
    Julie
     
  16. CamMcIntyre

    CamMcIntyre

    Jun 6, 2000
    USA

    A while back when i called them-i was told a $1k deductible on DBs. It made me really look into other options....i still don't have insurance on my gear yet.

    That's all
     
  17. musicman5string

    musicman5string Banned

    Jan 17, 2006
    Does anyone have any experience with Merz-Huber?
    I used to use them and need a new policy now, but am no longer a member of the International Society of Bassists.
    Their rate is 75 cents per $100. I don't know if they will still take me or not.