Finally, updated insurance rider

[kidblast]

after the J200 arrived, I realized I really needed to get off the stick and get all my guitars and amps updated to the professional rider on my home owners policy.

 

on this particular one, I've had for some time now, definitely a professional rider where it is intended to cover lose anywhere.

 

I've been lax for years on this, finally got it done. wonder how bad the hits gonna be on the premium now.. I had to add a lot of stuff...

 

what do yous guys do?

[kwalker201]

with your newly acquired baby I would want that in an armored car while I wasn't playing it.

[58 Relic]

I'm covered for a blanket £3,000 when I'm out with my gear . That includes all items not just the guitars , but my J45 is hardly is used at gigs or church worship

[L5Larry]

I have a dedicated and independent insurance policy for my guitars. Costs me about 1% of declared value per year, from a company that specializes in insuring valuable musical instruments "for professional use".

 

If your "rider" is not costing 1% or less, I would rethink your coverage.

 

Also, read the fine print on your rider very carefully, every policy excludes something. In the case of my policy, it's government insurgence, nuclear attack and rodents.

[kidblast]

I have a dedicated and independent insurance policy for my guitars. Costs me about 1% of declared value per year, from a company that specializes in insuring valuable musical instruments "for professional use".

 

If your "rider" is not costing 1% or less, I would rethink your coverage.

 

Also, read the fine print on your rider very carefully, every policy excludes something. In the case of my policy, it's government insurgence, nuclear attack and rodents.

 

That seems to be close to my cost too Larry. I had about 7k on there, and it was $71 per year. (I've got a lot more on there now.)

 

The terms are pretty straight forward, but you got me interested, so I'm checking exclusions now. the coverage is total lost out side the residence. like in vehicle theft, something stolen at a club, or at band mates house, replacement at current prices not at the "declared value" or purchase price.

 

I believe that this doesn't cover a tumble down the stairs, or some dumb-*** falling on my SJ200. does yours?

 

we have Metropolitan, and they haven't offered this for some years now, but since I've had the same homeowners policy since 1989 added this some where around 1995ish, it's still active. The person I talked to this morning checked it before I made changes and confirmed it was still good, and "quite the deal actually"...

 

I'm covered for a blanket £3,000 when I'm out with my gear . That includes all items not just the guitars , but my J45 is hardly is used at gigs or church worship

 

that's a little different, as I had to add each as a sep. line item, with a "current replacement cost" the good thing was as long as it doesn't bump over 25k, you don't need an appraisal or original receipt, even though I still had them hanging around for 90% of the items to be insured.

 

with your newly acquired baby I would want that in an armored car while I wasn't playing it.

 

ha! absolutely... when I'm not playing any of my guitars, they are in the cases, (with the humidifiers charged for Acoustics in the winter), and in a closet that I had built when we did an addition a few years back, (just for storing guitars, but evern now and then the wife tries to sneak something in there,, "hey!! Wait a second you!!!". (which needs to be expanded now but that's another issue)

[L5Larry]

... I believe that this doesn't cover a tumble down the stairs, or some dumb-*** falling on my SJ200. does yours?...

 

Yes, I can even Pete Townsend my own guitars and their covered. Had Jimi had this policy, the Strat he lit on fire at Monterey would have been covered.

 

There is a pay-per-use added premium for shipping as "freight" (UPS, FedEX, etc), and as "checked baggage" on commercial airlines. I don't exactly remember that cost, but I do remember it being of little consideration.

 

You can insure your instruments at "agreed value" (AV), "replacement cost" (RC), "actual cash value" (ACV), or "fair market value" (FMV). Having mostly "vintage" and "custom" instruments, I use ACV, with updated written appraisals.

[kidblast]

yea, it sounds like a no brainer doesn't it? Especially when in your case, you are using L5's and the like.

 

Anyway going to check mine again see what "Total loss" really means to them.