Does anyone insure their music gear? How?

[nevusofota]

My little guitar collection is beginning to grow substantially and some are starting to increase value. I contacted my home owners insurance company (Allstate) to see if I could take out a separate policy for my music gear and they said that I would have to take my stuff to an appraiser before they would insure it. Well, of course I can't take all my stuff out of the house to an appraiser and I can't find anyone local who even appraises music gear.

What do my fellow rig talkers do? I know that my collection aint nothin' compared to many on this forum. Any suggestions would be appreciated.

 

[locoed]

My home owners agent told me "If it's for professional use,you can add it on and pay a little more a month" if it's not for professional use than it's covered,so i pay a little extra a month just to be safe.I've heard a few horror stories about gear not being covered.

 

[billm408]

Heritage Insurance (through Hartford) is set up specifically for gear coverage. My homeowners covers only to the curb. Heritage will cover replacement for loss at gigs or anywhere else. Cost is about $250 a year for what I have.

 

[nevusofota]

thats good to know, thanks.

What will an insurance claim be for a guitar that is worth substantially more now than when I bought it. My receipt says one amount but the modern street value is much more. What will they pay? This is why I thought an appraiser may be needed.

 

[IndyWS6]

thats good to know, thanks.

What will an insurance claim be for a guitar that is worth substantially more now than when I bought it. My receipt says one amount but the modern street value is much more. What will they pay? This is why I thought an appraiser may be needed.

You will most likely need an appraisal - it's in your best interest - so that you are insuring the equipment for it's current value. If you suffer a loss, you don't want to be forced to argue current value to make a claim with nothing more than a receipt that reflects years-old pricing. Cover all your bases up front, keep all documentation, watch out for your own interests and, if there is a significant appreciation in value, get a reappraisal and file it with the insurance company.

I insure one "special" guitar on my homeowners policy for "all perils no deductible". But, like others mentioned, it can't be used for gigging or the insurance is null and void. If someone breaks in and steals it, or if it gets damaged at the house, I'm covered. That's cool, though, because I don't take it out and play it. I pay somewhere in the neighborhood of $45/year for $4,000 of coverage as an inclusion on the home owner's policy. My "appraisals" were hand-written documents from a local music store listing the model number, serial number and estimated value with detailed photos attached. The insurance company accepted it without hesitation.

 

[PaulyPanacea]

check out some of your local insurance agencies...hell, even the place you get your car insured thru ( the local rep that is) they can prob do something for you.

 

[Dallas Marlow]

I have heritage as well, covers about 20k in gear for me. I think its around $250-300 a year.

 

[mayorstoner]

" If no one locally can give a valid appraisal, quite a few places will, if you send them a few good pictures, that allow them to see the instrument and give them any pertinent information regarding the guitar. 'Gruhn's' in Nashville is one. There are quite a few others, with very good reputations, that should satisfy
any insurance company criteria. "

MS

 

[Schaf]

I have heritage as well, covers about 20k in gear for me. I think its around $250-300 a year.

I have mine added on my homeowners policy because I use it professionally. If you just use them at home, they are covered on the regular policy. I have about the same as Dallas and pay about 16 extra a month.

Schaf

 

[blackba]

My home owners insurance covers me as long as long as its in the house or not being used at a paid gig. Seeing as I currently play for my church I am covered. If I start doing paid gigs again, I will get separate insurance...

 

[IndyWS6]

I have heritage as well, covers about 20k in gear for me. I think its around $250-300 a year.

If you just use them at home, they are covered on the regular policy.

Schaf

Not necessarily... There might be company or regional differences, but you should check to be sure. According to my insurance company, if I have a limited number of "regular" guitars (valued within reasonable expectations, e.g. not '59 "bursts"...), then my home owner's policy would cover them in the home and for non-paid use. If I have numerous guitars or individual guitars that are worth substantial sums, then they would need to be disclosed on the policy for coverage. Better safe than sorry...

 

[Zachman]

My little guitar collection is beginning to grow substantially and some are starting to increase value. I contacted my home owners insurance company (Allstate) to see if I could take out a separate policy for my music gear and they said that I would have to take my stuff to an appraiser before they would insure it. Well, of course I can't take all my stuff out of the house to an appraiser and I can't find anyone local who even appraises music gear.

What do my fellow rig talkers do? I know that my collection aint nothin' compared to many on this forum. Any suggestions would be appreciated.

http://www.clarionins.com/

I use these guys. My gear is covered for Fire, Flood, Theft, Damage during transport. Really cool people.
Coverage Confirmation:

Based on the information received, we are quoting an annual premium of $449 with no deductible (to cover a total insured value of $39,705 )

 

[amiller]

I've talked with a friend of mine that played pro for 25 or so years. He said there are two basic types of insurance. If your guitar is destroyed or stolen, type one pays the fair market value of THAT guitar. If your guitar is destroyed or stolen, type two pays the REPLACEMENT cost.

 

[rupe]

I've talked with a friend of mine that played pro for 25 or so years. He said there are two basic types of insurance. If your guitar is destroyed or stolen, type one pays the fair market value of THAT guitar. If your guitar is destroyed or stolen, type two pays the REPLACEMENT cost.

Very important. I recall a story in Vintage Guitar where a Katrina victim was paid replacement value on a 50's LP Gold Top.

 

[Doubleneck]

I really need to look into this, I have State Farm and always assumed it's covered under your home owners insurance as long as you have pictures, receipts etc...

 

[snakeman1986]

You know when I saw this I thought I don't have enough gear to justify getting insurance but then I added up the value of everything in my head and now I'm seriously considering it. That added up quick!