Insurance

[fogman]

Just wondering how many of you have insurance specially for your guitars? Or if you'd just cover it under home insurance?

I would assume someone like ernie1966 has!

 

[tommyindelaware]

a word of caution to y'all...
don't assume yer equipment is covered under your homeowners or auto insurance. some companys have loopholes for this kind of stuff when it's stolen ( especially stolen out on a gig !!).
check w/ your agent & have him verify your coverage & to what circumstances you are & are not covered. & make sure yor specific about replacement value.

 

[ernie1966]

Just wondering how many of you have insurance specially for your guitars? Or if you'd just cover it under home insurance?

I would assume someone like ernie1966 has!

I took out a special rider on my home owner's insurance for all my guitars. I had to list each one, with a serial # and value assigned to each. So now they are insured even if one gets desroyed or stolen outside my home.

 

[NorM]

It was made clear to me that my guitars are covered when they are locked up in my house or car. Not in a bar.

 

[fogman]

I took out a special rider on my home owner's insurance for all my guitars. I had to list each one, with a serial # and value assigned to each. So now they are insured even if one gets desroyed or stolen outside my home.

Good man!

 

[hbucker]

I was told by my agent that they are not covered by homeowners if you use them to make money. I wasn't being paid to play in any form at the time so I didn't worry about it.

But I'm guessing, as was mentioned above, an inexpensive rider on your policy would take care of it.

Talk to an agent and they'll set you straight.

 

[tommyindelaware]

I was told by my agent that they are not covered by homeowners if you use them to make money. I wasn't being paid to play in any form at the time so I didn't worry about it.

But I'm guessing, as was mentioned above, an inexpensive rider on your policy would take care of it.

Talk to an agent and they'll set you straight.

+1

amazingly............i got most of my stuff back !!!!!!

 

[Devnor]

Does anyone know an inexpensive appraiser for guitars & other musical gear?

 

[tommyindelaware]

Does anyone know an inexpensive appraiser for guitars & other musical gear?

i know alot of inexpensive ones..
but i only know a couple good ones....
what area you in ?????
vintage or non vintage stuff ????
there are also some very good books available.....depends on yer stuff.....

 

[Warg Master]

It was made clear to me that my guitars are covered when they are locked up in my house or car. Not in a bar.

YES

 

[ripley]

a word of caution to y'all...
don't assume yer equipment is covered under your homeowners or auto insurance. some companys have loopholes for this kind of stuff when it's stolen ( especially stolen out on a gig !!).
check w/ your agent & have him verify your coverage & to what circumstances you are & are not covered. & make sure yor specific about replacement value.

TOO BLOODY RIGHT! every leeching swine insurence adjustor I've tried to talk to about my gear just rolls their eyes like; "ooohhh... fine. you're one of THOSE people..." when I ask about my equipment being covered. they will do anything they can get away with to either not cover those instruments or not pay up if yours get pinched.

 

[Dodgeball]

I've found that even some so-called "specialist musical instrument insurers" are effectively useless because of all the constraints included in the policies.

I gig a fair bit at the moment so insurance is pretty essential to me as you can't keep an eye on your stuff ALL OF THE TIME!

I recommend anyone doing regular gigs to get proper insurance on their kit from a company that specialises in that stuff. If you don't gig much/at all than home contents should be fine if you check with the insurers but make sure you get cover for accidental damage. You never know if your dog might drop your guitar onto a gun safe or something. (sorry Koogs)

 

[Hookpunch]

Hmmm. when I lived in an apartment I had insurance on my guitars and had them appraised by a pro shop. When I moved to a house I was told they were covered by the homeowners policy.

I'll have to double check that.

 

[J-Nick]

During university I used to work as a customer service agent for an insurance company and, in Canada at least, your guitars are covered under you regular home insurance as long as your not a working musician (i.e. you don't play guitar to earn money). This does not necessarily apply to vintage instruments because it becomes difficult to evaluate their condition and therefore real values after it's been stolen. Vintage instruments should therefore be professionally appraised with a copy of the evaluation (along with pictures of the instrument) sent to your insurance company. Depending on the value your insurance company can request that you insure it under a specific contract, just like they would do for arts or expensive jewelry.

If you are a working musician you need a specific insurance to cover your gear just like an electrician or a plumber would need to cover their equipment.

The best is to give them a call and check with them. Note the date, time and name of the person you talked to... just in case.

 

[Tim O'Sullivan]

Mine is covered with an insurer called Pavillion. My £10k or there abouts of gear costs me £180 or so a year. Covers me at home, in the car and with limited liability at a gig. Certainly worth having.

 

[tommyindelaware]

i caught up w/ this guy at a vintage guitar show. he specializes in musical instruments for gigging musicians & really knows what he's dea;ing with.
i been meaning to photo all my gear & get his rate. i felt he was a straight shooter when i met him.......& i've seen him at the shows for years now.....

http://www.musicins.com/

 

[Devnor]

Hey Tommy...I'm looking for someone to appraise basses & guitars nothing older than 1980. Things like my 5 EBMMs, some Ibanez, Hamer, Jackson, Wolfgang and Strat & Les Paul guitars. Possibly someone that can appraise synthesizers & rack/recording gear. Someone that knows the difference between a 1982 handmade BC Rich vs. the current crap they produce these days. Ghrun Guitars (sp?) wants $50.00 a instrument last time I checked... not bad on a single but when appraising everything it gets expensive.

 

[tommyindelaware]

http://www.vintageguitar.com/price_guide/default.asp

for stuff like that....this may be all you need......& it's updated every year.
i only use george on pricey vintage stuff. he did my 56 strat for me. i have to get it done again though...cause it's been quite a few years now.

 

[Devnor]

Thanks Tommy!

 

[hbucker]

I was once an auto claims adjuster and can safely say that none of us would be happy with a settlement made with us on stolen or damaged guitars. Why? Not because they're out to screw us. But because the guitars are worth more to us than they are to anyone else.

Adjusters can only pay you market value. Not sentimental value. We all have resons that our gutiars are worth a little bit more than others like them. They'll find and tell you to find ads for the same guitar being sold right now. They'll more or less average the asking prices and that'll be your settlement, less any deductible.

There are bad companies out there and bad adjusters to be sure. But I guarantee that as a former "swine" I never intened to do anything but give people as much money as I could based on their policy and actual loss. Yet I had people constantly thinking I was out to screw them over.

It's the gray area of personal value placed on any item that is not insurable.

Period!