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#1
02-10-2017, 12:27 PM
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All of you with EXPENSIVE custom guitars :) do you insure?
I figured out i am paying $6 for every $1,000 in guitars and music gear I have covered in a special instrument policy with Heritage (on an annual basis). Anyone have experiences, opinions or thoughts on
1) Necessity of such insurance 2) Value of such insurance 3) Am I getting a good price? 
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#2
02-10-2017, 12:42 PM
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Anyone have experiences, opinions or thoughts on
1) Necessity of such insurance Absoulutely! Got it the day some drug couple broke into homes on our neighborhood. Wife got caught husband ran away. He came back to break into homes the day she was appearing in court! 2) Value of such insurance Great peace of mind, priceless, plus they replaced a guitar that got damaged when someone tripped over a cheap guitar and broke the body and neck. 3) Am I getting a good price? I think the price I pay for replacement (list price on some custom and high end guitars) from Heritage is totally worth it. My guitars are always coming and going and being played so I never know what will happen, and I never worried about it too much until I saw the results of people on drugs doing whatever to get drugs, including breaking into homes that are occupied!
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An old Alvarez and a few others...
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#3
02-10-2017, 12:51 PM
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Insurance is insurance...worthless until you need it! I have Heritage as well, and like my car insurance, homeowners insurance, and life insurance, I'm comforted knowing I have it, so it's well worth it to me.
In addition, over the last couple years alone--by insuring guitars through them that I sold & shipped--I have likely saved close to the cost of my premium as compared to declaring a value through UPS...which is no insurance at all.
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Martin 000-28EC '71 Harmony Buck Owens American Epiphone Inspired by Gibson J-45 Gold Tone PBR-D Paul Beard Signature Model resonator "Lean your body forward slightly to support the guitar against your chest, for the poetry of the music should resound in your heart." -Andrés Segovia
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#4
02-10-2017, 12:54 PM
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My guitars are insured through my home insurance because I have no choice.
Otherwise an insurance is only worth buying if you can't afford the loss. Keep in mind insurance companies exist to make money so technically they always charge more than they pay.
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#5
02-10-2017, 12:58 PM
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I've got "new" replacement value through homeowners.
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#6
02-10-2017, 02:02 PM
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Insurance is, at its most basic, asset protection.
Do you have the money (asset) to replace (protection) the guitar? that is self-insurance. Do you want to not have to touch your savings (asset) to replace the guitar? then buy a policy (protection).
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amyFb Huss & Dalton CM McKnight MacNaught Breedlove Custom 000 Albert & Mueller S Martin LXE Voyage-Air VM04 Eastman AR605CE
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#7
02-10-2017, 02:25 PM
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Quote:
Drplayer - my understanding with Heritage is they do not automatically cover guitars when shipped. You need to add that individually each time you ship, at an additional premium cost. You may want to double check your coverage with Heritage.
__________________
- Mike There are two ways of spreading light: to be the candle or the mirror that reflects it. - Edith Wharton, writer
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#8
02-10-2017, 02:50 PM
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I have guitars insured with a separate policy through State Farm, at about $30/year/guitar, so your price sounds reasonable.
I think it's totally worth the peace of mind.
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Martin OM28 (European Spruce/EIR) Collings OM3A (Adirondack/EIR) Greven OOO (Lutz/Brazilian) Greven OO (Lutz/Maple) ARK Senorita S6-12 (Adirondack/Mahogany) Circa OOO-12 (European Spruce/Mun Ebony)
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#9
02-10-2017, 03:03 PM
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Quote:
__________________
Martin 000-28EC '71 Harmony Buck Owens American Epiphone Inspired by Gibson J-45 Gold Tone PBR-D Paul Beard Signature Model resonator "Lean your body forward slightly to support the guitar against your chest, for the poetry of the music should resound in your heart." -Andrés Segovia
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#10
02-10-2017, 03:26 PM
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Quote:
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"It was late in the evening, and I blew that room away..." - Paul Simon --------------------------------------------------------------- Acoustic gear: 1999 CFox 'Frisco' concert w/ Trance Amulet MV 2016 Taylor GS Mini-e RW 2020 Goodall KCJ Fishman Loudbox Mini
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#11
02-10-2017, 04:28 PM
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Can you afford to replace everything (in cash) without it hurting your financial condition? Can you afford to replace everything "important", even if not everything, in cash... etc? If so, insurance is money in the trash. If not, insure.
Sent from my iPad using Tapatalk
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#13
02-10-2017, 06:14 PM
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I treat insurance as a gamble. You are laying odds that you are likely to claim, they (the bookies) are laying odds that you won't. Usually they win. Insurance is a valuable tool and must not be ignored, unless you are very well off and can afford a substantial loss. That is not me. I've probably spent more on insurance over the years than I have claimed, but it has certainly got me out of a few jams over the years. I won't be without it.
__________________
Maton CE60D Ibanez Blazer Washburn Taurus T25NMK
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#14
02-10-2017, 06:20 PM
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Insurance...
I have a heritage policy on all my gear. Seems cheap to me.
Especially as we live in a fire danger area in the mountains east of San Diego. Also, if you are a pro musician your home owner's insurance will usually NOT cover your musical equipment. Go figure! Cheers Paul
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4 John Kinnaird SS 12c CUSTOMS: Big Maple/WRC Dread(ish) Jumbo Spanish Cedar/WRC Jumbo OLD Brazilian RW/WRC Big Tunnel 14 RW/Bubinga Dread(ish) R.T 2 12c sinker RW/Claro 96 422ce bought new! 96 LKSM 12 552ce 12x12 J. Stepick Bari Weissy WRC/Walnut More
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#15
02-10-2017, 06:26 PM
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Quote:
Same here. Little known fact: Home Owner's Insurance also covers your guitars (ski equipment, laptops, etc.) if they were un-recovered from your stolen vehicle. *Always keep photo records of your costly possessions with each corresponding serial number. If you are renting, Renter's Insurance covers everything in your secured rental area. Last edited by Neonzapper; 02-10-2017 at 06:34 PM.
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