Insurance For Your Instruments?

[markw51]

Do any of you have an insurance policy on your instruments? A Google search turns up a number of companies that specialize in that and it does not appear to be expensive. Which one would you recommend?

 

[64Strat]

I use Heritage.

Link

 

[studio1087]

I use American Family.

My wife and I bought our first house about 22 years ago and my gear was part of the home insurance.

I had renters insurance before that (American Family).

You can pay a slightly higher premium if you use the gear professionally but I think it's more than worth it.

Have you called whoever your automobile/renter/home insurance is with? You know them and they know you. I can't imagine it being cheaper if the insurance company only writes a policy for music gear.

 

[uriah1]

Yea..split into semi-pro and home use...saved money

 

[64Strat]

There's a difference in the coverage from providers that specialize in musical instruments. Make sure you understand the differences to see if they apply to your case. For example in my case, I have a number of vintage pieces. If one of them gets damaged and the repair will substantially reduce it's value, that difference in value is paid to me through a claim. I found that the coverage through the regular providers was not adequate for my needs.

 

[JimmyZ]

I insure all of the gear I take out when I play professionally. My home owners does not cover musical instruments used commercially and, what they cover at home if stolen would have the same $1000 deductible as the rest of my home owners. I have been using Clarion and there is no deductible (at least that is what my policy is). I provide a schedule of the instruments and gear with serial numbers and I insure them for the value I want, not what someone else says they are worth. They apply a rate per $1000 of stated value. I have never had a claim and I hope I don't but I sure feel better about taking some nice instruments, amps and sound gear out to some low life places now.
If you play out a lot (or a little) and you have nice gear you need to have separate insurance on it. Your homeowners may not be enough and you could end up pretty unhappy. Just my opinion. Maybe someone else has a better experience with homeowners.

 

[telleutelleme]

Cost of replacement rider for most home owners. Also if you live in a flood zone, you need to make sure you have extra insurance as most flood insurance only has a fixed value for the home. I also had issues getting "electric" instruments covered with some carriers. You need to be very specific about what you want in way of coverage and question the carrier.

 

[scat4me]

USAA ...