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The Gear Insurance Thread
- Thread starter TCollins
- Start date
Ooooooh man I'll be in deep yoghurt if I ever have to file on any of my gear. I generally start out cheap and modify until it's good. My main bass is a Fretless '89 MIJ Fender Jazz. Originally bought it for about $200. Since then : New EMG's ,new roller bridge, black pearl pickguard, new tuners...and I bet the insurance company would love to pay enough to get one like it was stock and plain and $200.
I've done this with a lot of my gear. I can never afford to get the really good stuff all at once but eventually it's there. To really replace my main bass, getting one much like it started out and then modding it to the same point all at once would probably cost about $1500. But how to explain that to the agent? And how to explain it about My other Fender, my Spector, my Hamer...etc
I've done this with a lot of my gear. I can never afford to get the really good stuff all at once but eventually it's there. To really replace my main bass, getting one much like it started out and then modding it to the same point all at once would probably cost about $1500. But how to explain that to the agent? And how to explain it about My other Fender, my Spector, my Hamer...etc
I've posted at the DB side; thought I'd try here also...
I'm looking for all-risk insurance for my gear. Apt. insurance won't protect against accidents, and some may not even protect if your gear is with you on the road. The two policies I know about are with Merz-Huber and Music Pro. But...
Merz-Huber has a new minimum of $300/yr (pretty high I think). They also require appraisals for each piece of gear.
Music Pro does not have a minimum (although it is a bit more pricey at $1 per every $100 as opposed to Merz-Huber's .75 per $100). They also don't require appraisals - they'll accept the value you give as long as you've got the model and serial # info. Problem is... they never seem to answer their telephone or e-mails and I cannot get through to them. I've been trying for over a month!!
Does anyone know any good alternatives???
I'm looking for all-risk insurance for my gear. Apt. insurance won't protect against accidents, and some may not even protect if your gear is with you on the road. The two policies I know about are with Merz-Huber and Music Pro. But...
Merz-Huber has a new minimum of $300/yr (pretty high I think). They also require appraisals for each piece of gear.
Music Pro does not have a minimum (although it is a bit more pricey at $1 per every $100 as opposed to Merz-Huber's .75 per $100). They also don't require appraisals - they'll accept the value you give as long as you've got the model and serial # info. Problem is... they never seem to answer their telephone or e-mails and I cannot get through to them. I've been trying for over a month!!
Does anyone know any good alternatives???
you might try looking at companies that specialize in antique insurance. ask down at your local high-end antique furniture dealer. antique's roadshow always runs commercials for a company called "chubb" that does that kind of thing.
My boss insures his baseball memorabilia through Chubb, they seem to be an OK outfit.
The musicians' union has instrument insurance available, but I think it has a $20,000 limit.
The musicians' union has instrument insurance available, but I think it has a $20,000 limit.
As in you must have 20,000 worth to apply or thats the most they'll cover? Hopefully the latter.
There is an analysis for 1) items costing $10,000 or more -or- 2) items totaling $50,000 or more (they just look at the situation more in depth)
anyone who has any questions on the AFM "all-risk" gear insurance, send me an email and I will forward you pdf's for info and an app
Originally posted by FiXeR
As in you must have 20,000 to apply or thats the most they'll cover? Hopefully the latter.
the minimum premium is $75 plus the one time app fee of $10.
let me try to explain this (it can get confusing):
first $1500 - $2.20 per $100
$1500 - $1.00 per $100
"FOR EXAMPLE: If your equipment is valued
at $20,000, here is what your annual pre-mium
would be:
Your first $1,500 ($2.20 x 15) $33.00
The next $18,500 ($1.00 x 185) + $185.00
$10 administration fee + $10.00
Your total annual premium $228.00"
Nojazz, I PM'd you. If you have any further info or experience with the AFM insurance it may be valuable to others if you post it here.
There is so much gear talked about at this sight I have to believe that there are quite a few people with instrument insurance. If anyone else has some experience with good (or bad!) insurance policies - please share your knowledge!!
Thank you.
There is so much gear talked about at this sight I have to believe that there are quite a few people with instrument insurance. If anyone else has some experience with good (or bad!) insurance policies - please share your knowledge!!
Thank you.
I'm finally going to do something many of us put off until it's too late and get my gear insured against theft.
I'm based in Glasgow (UK) and I'm looking for fellow TBers positive and negative experiences with any insurance companies they have used. I've searched for some companies who offer musical instrument insurance and it's also been suggested that I check out the Musicians Union but I'm really looking for some 'real life' experiences and recommendations.
Thanks in advance
I'm based in Glasgow (UK) and I'm looking for fellow TBers positive and negative experiences with any insurance companies they have used. I've searched for some companies who offer musical instrument insurance and it's also been suggested that I check out the Musicians Union but I'm really looking for some 'real life' experiences and recommendations.
Thanks in advance
I was wondering if anyone carries insurance on their rig? I have too much money in my rig for it to be stolen. I couldn't even begin to replace it. Are there are companies you would recommend and about how much does it cost you? Thanks.
Great idea for a thread! I think most rigs and basses would be covered under a typical homeowner's policy, but I could be wrong. I'm curious to see what everyone has to say.
As far as I know, most home owners insurance wouldn't cover you if your rig was stolen or damaged at a gig.
I know there are alot of people on here with major bucks in their rig and I wouldn't be very comfortable gigging $10,000 plus in equipment!
BTW Folmeister, my .45 does fine
but most clubs tend to frown :scowl: on that kind of "insurance" 
I know there are alot of people on here with major bucks in their rig and I wouldn't be very comfortable gigging $10,000 plus in equipment!
BTW Folmeister, my .45 does fine
but most clubs tend to frown :scowl: on that kind of "insurance" 
Here is the difinitive answer. My answer is based on over 10 years experience and first hand knowledge as I work in the insurance industry.
Your equipment is covered under your homeowners or renters policy. It is covered both while at your residence and away from your residence. Coverage is provided regardless of the amount of time that it spends away from your residence. The key to coverage is ownership not location of the item owned. It is covered if stolen out of your car under the homeowners or renters policy and NOT your auto policy. A deductible WILL apply. You are responsible for choosing the amount of the deductible. If you leave your rig at someone elses house it is NOT covered under their homeowners or renters policy, it is covered under your policy. There may be a restriction on coverage outside of the United States but this varies by carrier. Musical equipment does not have an automatic limitation of coverage like jewelery does.
Coverage also depends upon the cause of the loss. Policies are written either as a named peril (theft, water, lightning) or all risk with excluded causes. Therefore spilling a beer on your bass head might or might not be covered depending upon your policy.
If something is stolen file a police report right then and there. Do NOT wait until the next day and do not file a bench report. The police report is the FIRST piece of documentation that an insurance company looks for and often there is a condition in the policy that states a police report must be filed.
The next thing to remember is documentation, documentation, documentation. By this I mean original documentation/verification of purchase. Do not expect your insurance company to accept a written estimate of value written by a shop after a loss has occurred. Next are photos of the equipment especially the serial number.
Finally, most policies are written on a replacement cost basis. So if you score a really great deal like finding a early 70's Fender Tele bass at a garage sale for $25, your insurance company will owe you the market or replacement cost of that bass, not the $25 you paid for it. If you have vintage equipment, get a written appraisal.
If you have any specific questions about insurance, carriers or need help in the unfortunate event that you have a loss PM me.
Your equipment is covered under your homeowners or renters policy. It is covered both while at your residence and away from your residence. Coverage is provided regardless of the amount of time that it spends away from your residence. The key to coverage is ownership not location of the item owned. It is covered if stolen out of your car under the homeowners or renters policy and NOT your auto policy. A deductible WILL apply. You are responsible for choosing the amount of the deductible. If you leave your rig at someone elses house it is NOT covered under their homeowners or renters policy, it is covered under your policy. There may be a restriction on coverage outside of the United States but this varies by carrier. Musical equipment does not have an automatic limitation of coverage like jewelery does.
Coverage also depends upon the cause of the loss. Policies are written either as a named peril (theft, water, lightning) or all risk with excluded causes. Therefore spilling a beer on your bass head might or might not be covered depending upon your policy.
If something is stolen file a police report right then and there. Do NOT wait until the next day and do not file a bench report. The police report is the FIRST piece of documentation that an insurance company looks for and often there is a condition in the policy that states a police report must be filed.
The next thing to remember is documentation, documentation, documentation. By this I mean original documentation/verification of purchase. Do not expect your insurance company to accept a written estimate of value written by a shop after a loss has occurred. Next are photos of the equipment especially the serial number.
Finally, most policies are written on a replacement cost basis. So if you score a really great deal like finding a early 70's Fender Tele bass at a garage sale for $25, your insurance company will owe you the market or replacement cost of that bass, not the $25 you paid for it. If you have vintage equipment, get a written appraisal.
If you have any specific questions about insurance, carriers or need help in the unfortunate event that you have a loss PM me.
