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Izzy

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We spend a bit on our gear...in addition to the insurance some of us pay on our greatest commodities...do we spend extra to have the gear covered?

 

Have any of you ever had to use it?

 

I've been considering it.

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I don't have it, but really should. So long as my house doesn't catch fire I should be ok! Gig wise, I tend not to use my most valuble instruments, although a few years ago my drummer friend nearly knocked over a stand with my Les Paul Classic 1960 on which would have ended up in a headstock break for sure, but luckily I saw it about to happen and dived over to catch it. It was a bit like a scene in a movie in slow motion - noooooooo!

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Well, Yes and No.

 

Previously I had never put any instrument on special cover but when we bought our current house in 2009 I put the R0 on the 'Contents' list for it's replacement value.

 

I haven't added further instruments on the home insurance list since but probably should: Just considering the R9/R0 pairing alone the current 'out the door' replacement cost here in the UK works out to be a gnat's under $16k. Three other guits add a further $9.5k between them.

Add-in another six guitars and various associated odds'n'sods it dawns on me that I'd be pretty miffed if we were burgled.

 

P.

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Used to have a separate policy (rider) when I was gigging regularly. My agent says I am covered under my home policy...somewhat...but I can only imagine how that would go! This is food for thought; for the scant amount (now) that I'd have to pay it would be worth it! Although, my entire equipment list right now would not equal even one of Pippy's guitars [biggrin] (you lucky duck!)!

 

Brian

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Guest Farnsbarns

My R8 is specifically listed and I'm covered to 20 grand of music equipment outside the house, including theft from a car or theft of a car it was in.

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I don't have a seperate instrument clause on my home insurance. The coverage i have for belongings far exceeds the value my current belongings anyways so i'd be covered if there were a fire or such.

 

Its not that i have great insurance, I just don't own much. [flapper]

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Yes, I have a specific and dedicated policy for my guitars, insured "for professional use".

 

sort of the same here

 

I have ryder on my policy that takes these into account. (it's called a "professional use" ryder, as Larry mentions. and it covers loss out side the residence. it's not all that expensive) And all are covered for "replacement value"..

 

sadly, -- only half of my guitars are updated to the policy.. I keep telling myself, I'll do this, but I just never get around to it.

Stupid, cuz I have all the documentation needed for all but one or 2.

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First the disclaimer: I am not an insurance agent, nor do I have any association with any insurance company or underwriter.

 

 

 

The insurance issue comes up a couple of times a year, and I write this same warning. This info is for our USA members only, as I know nothing of other countries insurance regulations.

 

Don't be fooled into thinking your guitars are covered under your homeowner's policy, rider or not, in any and all situations. Get very specific and detailed information from your insurance agent based on the use and purpose for which your instruments are owned. Your instruments could either be "household contents" (like a piano sitting in your living room), or "for professional use" (as if you play in a bar band or even perform at the occasional open-mic night). Even most riders are only an additional dollar amount of coverage added to the amount stated in your policy for personal contents. These type riders are most common for things like jewelry, where a few small items can be incredibly valuable. The "professional use rider" as KidBlast mentions may be offered by some insurance carriers, but IS NOT offered by my carrier.

 

So, the question is..... are you a "hobbyist", or a "professional"? This makes a HUGE difference to your insurance company. The way it has been explained to me is that if you PERFORM in PUBLIC (for pay OR for free), then technically your instruments are classified "for professional use", and are not covered under your homeowners policy or rider, even if the damage or loss occurs in your home.

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And yet another boring step further...

 

In my state, they are used in the home for professional purposes. That means I could record a song and conceivably make money selling it. So it complicates even further.

 

If you LLC yourself in order to protect your personal property from business legal problems you then further complicate it.

 

As always, in America, best to see your lawyer if you have any doubts.

 

rct

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I have all my guitars insured via Heritage. I live in hurricane country and a close call 5 years ago prompted me to get off my keister and sign up. What I like best about it is I can insure instruments in transit (selling or buying) and I am not at the mercy of Fedex or UPS "insurance".

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My R8 is specifically listed and I'm covered to 20 grand of music equipment outside the house, including theft from a car or theft of a car it was in.

 

Where abouts do you live ????? ](*,)

 

 

I use Allianz. Good value cover with low excess. Haven't had to claim though , luckily.

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Get very specific and detailed information from your insurance agent based on the use and purpose for which your instruments are owned.

 

 

in some cases, you're right, in my case, it is a special product offered by Met Life, it's for musicians, photographers, and it does cover what ever I've got on the policy. I've got the contract terms somewhere, it covers loss outside of the residence, be it a club, a rehearsal barn, car, any where.

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I'm very much interested in purchasing guitar / amp / musical equipment insurance for my gear. Does anyone have specific recommendations for insurance companies or policy's to consider? I left professional behind many years ago but now own a small collection of extremely high quality gear that I wouldn't want to lose to fire, theft, storm damage or whatever. 95% of the time my gear stays in my home studio. When it leaves the house it's to go to a friends house for an evening of playing or, every now and then, for a non-paying benefit concert for veterans, charities or whatever.

 

What's involved to get the policy? I've tried a couple of times in the past and had insurance companies ask for 3rd parties to estimate replacement or current values for each instrument and piece of gear as well as not go with / recognize / understand that certain instruments increase rather than decrease in value over time. It's always been a big pain in the a** that leads me to pull back until another date and time.

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do you have any sales receipts?

 

that will work for any policy

 

if you don't, if you have a local music store that you frequent, they could help with appraisals for any thing you don't have a receipt for.

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You know, all this reading on insurance has spurred me to make some inquiries. Some are funnier than others, for instance this direct quote from Heritage- which has HQ in my "neck of the woods"...

 

"Coverage would be underwritten through Hartford Insurance. Our policy is very straight forward and covers anything that is not excluded." Emphasis added.. Yes Sir, we cover EVERYTHING we don't cover! Man, does anyone proof read copy on what is sent out??!! Is literacy dead? How high is up...?

 

Anyway, I thought it was funny. Another "tax assistance" radio commercial here in the Philly area goes like this:

 

"Hi this is Alan Frick. You may have heard, probably from me, that the IRS is clamping down on people who owe back taxes. It's not a game! But the game changes when you employ the services of..."

 

It's not a game. But it is because the game changes...SHEESH!

 

Anyway, fellow musicians / guitar freeks, beware the double speak and the use of moronic statements designed to put you at ease...

 

Brian

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I'm very much interested in purchasing guitar / amp / musical equipment insurance for my gear. Does anyone have specific recommendations for insurance companies or policy's to consider?

 

This is the company I use, as do a few others here on the boards, as well as a friend that owners a vintage guitar shop, and another who makes custom high-end violins, viola's, etc.

 

http://www.musicins.com/index.html

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...my entire equipment list right now would not equal even one of Pippy's guitars [biggrin] (you lucky duck!)!....

Apologies to all if my first post struck quite the wrong note. Bad Show but Unintentional

 

My intent was to suggest, gently, that other forumites might wish to re-consider their own circumstances as per the OP.

I must admit it came as somewhat of a shock to me to realise how negligent I have been in my own case.

 

Pippy..

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Apologies to all if my first post struck quite the wrong note. Bad Show but Unintentional

 

My intent was to suggest, gently, that other forumites might wish to re-consider their own circumstances as per the OP.

I must admit it came as somewhat of a shock to me to realise how negligent I have been in my own case.

 

Pippy..

 

Pippy- I enjoy your posts and feel you are a 'stand up' guy; and speaking for myself- was not offended at all! I am seriously happy for those who have excellent equipment..so no need to apologize here!

 

I did not mean to offend either- each one of us is blessed to certain degree and even those who maintain that the guitars we play, own and cherish are mere material "things", in truth somehow the connection goes deep within us and the world being what it is, we indeed should do everything possible to protect our instruments!

 

Brian

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