SquidLizard
Well-known member
- Joined
- Oct 4, 2006
- Messages
- 237
adouglas asked if people would share their insurance knowledge and experience. Here's a "+1" to Ben's mention of Clarion. I have my gear insured with them. Here's why:
1) Premium is about 1% of insured value for my quantity of gear
2) They cover it everywhere I can think of: practice pad, gig, my friend's house if I loan it out, my car, etc.. They cover it for just about anything: theft, fire, loss, earthquake or flood. It is covered at replacement value.
3) The folks I spoke with there seemed friendly, knowledgeable and patient. They also followed-up carefully and made sure they had everything they needed from me.
4) As they will happily tell you, they insure ONLY instruments and music gear and have been doing it for years
5) You can add gear mid-policy very easily. Also, they make you send them a new list when you renew which I think is a great idea -- at least once a year you have to give them an update!
6) My homeowner's insurance covered my gear at a minimal extra cost but only if it was in my home at the time of the loss. It was subject to my $1,000 deductible. They insured it from a list I sent them as a special rider to my policy. It did not cover earthquake or flood loss, nor loss from anywhere except my house. It cost me about 1/4 of what I pay to Clarion but for me, the comprehensive coverage Clarion gives is worth the extra cost.
I'd recommend that you call your current agent and find out exactly what is covered now, what the deductible is, and how and where it's covered. Also under what circumstances they will and will not pay a claim. Does there have to be a police report, what if it just disappears from your house, or there's flood or fire damage? Find out the cost of adding a rider for your instruments. That will help you decide whether you need a specific instrument policy.
You should discuss definitions of terms with any insurance company you talk to -- for instance, how do they define "replacement value" and how does it work if you have a claim? Do NOT assume that you understand anything. If it sounds like "insurance speak" it probably is. Get a definition.
There are companies other than Clarion. I found one that was a little cheaper, and they seemed fine, but I was more impressed with Clarion because of their courtesy and their follow-up. I felt their positive attitude would help a lot of the worst happened. It didn't hurt that the man who helped me was a musician.
You should keep a list of all your gear, with detailed descriptions and serial numbers. Keep it updated and inform the insurance company when there are changes. I keep photos of my instruments on-line. If there's a fire the photos are still available for my claim.
You should DOUBLE-CHECK anything you hear (including from me) with the insurance company you're thinking of going with. For me, instrument insurance was the only way to go. Of course, as always, YMMV.
1) Premium is about 1% of insured value for my quantity of gear
2) They cover it everywhere I can think of: practice pad, gig, my friend's house if I loan it out, my car, etc.. They cover it for just about anything: theft, fire, loss, earthquake or flood. It is covered at replacement value.
3) The folks I spoke with there seemed friendly, knowledgeable and patient. They also followed-up carefully and made sure they had everything they needed from me.
4) As they will happily tell you, they insure ONLY instruments and music gear and have been doing it for years
5) You can add gear mid-policy very easily. Also, they make you send them a new list when you renew which I think is a great idea -- at least once a year you have to give them an update!
6) My homeowner's insurance covered my gear at a minimal extra cost but only if it was in my home at the time of the loss. It was subject to my $1,000 deductible. They insured it from a list I sent them as a special rider to my policy. It did not cover earthquake or flood loss, nor loss from anywhere except my house. It cost me about 1/4 of what I pay to Clarion but for me, the comprehensive coverage Clarion gives is worth the extra cost.
I'd recommend that you call your current agent and find out exactly what is covered now, what the deductible is, and how and where it's covered. Also under what circumstances they will and will not pay a claim. Does there have to be a police report, what if it just disappears from your house, or there's flood or fire damage? Find out the cost of adding a rider for your instruments. That will help you decide whether you need a specific instrument policy.
You should discuss definitions of terms with any insurance company you talk to -- for instance, how do they define "replacement value" and how does it work if you have a claim? Do NOT assume that you understand anything. If it sounds like "insurance speak" it probably is. Get a definition.
There are companies other than Clarion. I found one that was a little cheaper, and they seemed fine, but I was more impressed with Clarion because of their courtesy and their follow-up. I felt their positive attitude would help a lot of the worst happened. It didn't hurt that the man who helped me was a musician.
You should keep a list of all your gear, with detailed descriptions and serial numbers. Keep it updated and inform the insurance company when there are changes. I keep photos of my instruments on-line. If there's a fire the photos are still available for my claim.
You should DOUBLE-CHECK anything you hear (including from me) with the insurance company you're thinking of going with. For me, instrument insurance was the only way to go. Of course, as always, YMMV.
