My Music Pro insurance claim experience

[g-dude]

I can see that, if you have your music pursuits set up as an LLC or other entity. Makes total sense.

If you have an LLC and the instruments are owned by the LLC, they are at risk should your LLC get sued.

One thing to consider is a separate LLC for your instruments versus your musical pursuits, and some sort of "rental" agreement between the two.

Talk to a lawyer and tax professional, of course, but you never want an LLC to have too many assets.

 

[g-dude]

Sounds like Allstate owes me a refund and/or an explanation. Or both.

If your agent sold you a policy that doesn't cover something, the insurer might be on the hook anyways if you have written proof of what you asked for.

 

[TOOL460002]

Say you gig with 2 basses but have 10. 8 won't leave the house. Can you just insure like 2 basses, a pedal board, and maybe an amp or something? I'm cool with my homeowner's insurance for anything else.

 

[JonathanPDX]

Say you gig with 2 basses but have 10. 8 won't leave the house. Can you just insure like 2 basses, a pedal board, and maybe an amp or something? I'm cool with my homeowner's insurance for anything else.

Yes, at least with Music Pro. You fill out a list with details on each item you are insuring with serial numbers, descriptions, and value.

However, the cost is quite reasonable so once you start doing the math you'll probably find it's not that expensive to add coverage for the rest of your collection. Unless those instruments are wildly expensive, in which case, you should absolutely cover them! I don't recall the exact numbers but $15-$20K of gear is going to run you like $150-$200/year in insurance. To me, that's a very reasonable rate given the inherent risks with hauling gear around.

 

[TOOL460002]

Yes, at least with Music Pro. You fill out a list with details on each item you are insuring with serial numbers, descriptions, and value.

However, the cost is quite reasonable so once you start doing the math you'll probably find it's not that expensive to add coverage for the rest of your collection. Unless those instruments are wildly expensive, in which case, you should absolutely cover them! I don't recall the exact numbers but $15-$20K of gear is going to run you like $150-$200/year in insurance. To me, that's a very reasonable rate given the inherent risks with hauling gear around.

Thanks. I'm 100% doing this when a particular project goes live. I think 15-20k is about the max I roll around with. That's worth peace of mind I think. Much appreciated.

 

[JazznFunk]

If your agent sold you a policy that doesn't cover something, the insurer might be on the hook anyways if you have written proof of what you asked for.

I originally scheduled all of my equipment as part of a renter's policy well over 20 years ago. It was sold to me then as a 'Professional Musical Instrument' rider and at the time was stated to cover all scheduled equipment in or out of the home, while being used in a professional capacity. I don't have any of the policy documents handy, but I need to review them for sure. That same schedule got rolled into our homeowner's policy when we bought our house in 2016. If something changed with how all of that was categorized - or if it didn't get 'grandfathered' in - I was never told. Regardless, it sounds like it's time to give Allstate a call, and check out MusicPro.

 

[g-dude]

I originally scheduled all of my equipment as part of a renter's policy well over 20 years ago. It was sold to me then as a 'Professional Musical Instrument' rider and at the time was stated to cover all scheduled equipment in or out of the home, while being used in a professional capacity. I don't have any of the policy documents handy, but I need to review them for sure. That same schedule got rolled into our homeowner's policy when we bought our house in 2016. If something changed with how all of that was categorized - or if it didn't get 'grandfathered' in - I was never told. Regardless, it sounds like it's time to give Allstate a call, and check out MusicPro.

Insurance is a funny thing. Your policy is the governing document, but someone acting on behalf of the company can indeed cause coverage to be extended beyond the policy if they aren't careful.

Even if one isn't successful in pursuing damages that way, the agent's E&O policy is another source of damages.

It's why it's super important to try to put in writing what coverage you want to buy and the "why" whenever possible.

 

[JazznFunk]

Popping back in to say thanks to all who contributed on this thread. I learned a lot, and got in touch with MusicPro to get some supplemental insurance coverage for my gear which regularly leaves the house for gigs, etc. Super easy, super nice folks to deal with.

 

[edwinhurwitz]

Say you gig with 2 basses but have 10. 8 won't leave the house. Can you just insure like 2 basses, a pedal board, and maybe an amp or something? I'm cool with my homeowner's insurance for anything else.

My music gear insurance has a rider with specific instruments. I suppose if I had ones that never left the house, I could get them covered by a homeowner's insurance, but given my experience with standard insurance companies, I would expect a bit of a fight.

 

[JJP_1984_LB50]

Resurrecting this thread as I'm gaining interest in some insurance protection for my gear.

Some of the companies allow you to specify a value (along with other modifying terms) for your item. How do you come up with a number? For instance...

I bought a Carvin LB50 in 1984 for $450.
In 2026 dollars, that's just under $1500.

It's not "replaceable". They don't make them anymore. Thoughts or experience...???

 

[edwinhurwitz]

Get an appraisal from a local luthier.

 

[JazznFunk]

Resurrecting this thread as I'm gaining interest in some insurance protection for my gear.

Some of the companies allow you to specify a value (along with other modifying terms) for your item. How do you come up with a number? For instance...

I bought a Carvin LB50 in 1984 for $450.
In 2026 dollars, that's just under $1500.

It's not "replaceable". They don't make them anymore. Thoughts or experience...???

'Replacement' would mean 'made whole'... i.e. you'd receive money to replace it with an item which would functionally be as close as possible if a direct replacement isn't feasible. So yeah.... replacement value would be around $1,500 ish to account for inflation, etc.