Insurance.

EVANSSS · #1 05-22-2008, 06:38 AM

I have just insured my guitars and equipment with Musicguard. I must say for the level of cover offered they are really very reasonable. I'm not sure i am allowed to discuss pricing so i will leave that out for now(?)!

However loss, accidental damage, theft, public liability, in vehicle cover all for both personal and professional situations are all standard. Everything is new for old and pricing can be worked out for custom or vintage guitars based on a mutual agreement.

I just wondered how everyone else deals with their insurance?

EverythingMusic · #2 05-22-2008, 06:43 AM

Mine are covered by my homeowners and car policies.

EVANSSS · #3 05-22-2008, 06:48 AM

Mine were also covered on the contents insurance, but not very well. Its a grey area when it comes to musical gear, as if any of it is ever used to make money, say bye bye to being covered.......

EverythingMusic · #4 05-22-2008, 07:00 AM

It can be grey, but it can also be clear. My agent is my father so he made sure we had the right policies to take care of it. I can even drag my guitar overseas with me and it will be covered.

ljguitar · #5 05-22-2008, 07:29 AM

Quote:

Originally Posted by EVANSSS

I have just insured my guitars and equipment with Musicguard. I must say for the level of cover offered they are really very reasonable. I'm not sure i am allowed to discuss pricing so i will leave that out for now(?)!

However loss, accidental damage, theft, public liability, in vehicle cover all for both personal and professional situations are all standard. Everything is new for old and pricing can be worked out for custom or vintage guitars based on a mutual agreement.

I just wondered how everyone else deals with their insurance?

Hi Evansssssss...
The rule in the forum is simple; the only prices we are not supposed to discuss are guitars - new or used. Anything else is ok.

I went to our home owner's agent and told him about my instruments, and he took about a week to check with his company and we now have a separate policy with the company that covers all three of my handbuilts. It is very reasonable.

I had to do that was a bit of work was get statements of worth (letters on their letterhead) from the builders as to replacement value of each of the guitars. I also had to bring them to his office and have them photographed and serial numbers verified.

Brew · #6 05-22-2008, 07:36 AM

I have a rider on my home owners policy. I gave them a list of my guitars and how much they cost.

I've also added some other items like my photography equipment that can get kind of pricey too.
I think the total umbrella cost me almost 200 per year.

min7b5 · #7 05-22-2008, 07:43 AM

A home owners policy rider can be great, however, if you’re doing gigs and or traveling it’s better to go with something like Heritage, because far and away the most likely places for a guitar to be damaged or disappear is at the gig or airport, and the rider likely will not cover that

ljguitar · #8 05-22-2008, 07:55 AM

Quote:

Originally Posted by min7b5

A home owners policy rider can be great, however, if you’re doing gigs and or traveling it’s better to go with something like Heritage, because far and away the most likely places for a guitar to be damaged or disappear is at the gig or airport, and the rider likely will not cover that

Hi min7b5...
I travel a lot with instruments, and that is certainly not true of my rider. It is something to be sure to ask about before buying though.

I did a lot of homework with my agent's assistance before finalizing my policy - which is a no fault, full replacement value, zero-deductible for loss, mysterious disappearance, and damage repair insurance.

Another thing to clear up is whether you are classed as a professional musician if you teach. My gigging partner and I play out quite often in our community and I teach guitar part-time, which some companies would automatically class as professional. We corresponded (the agent and I both) with the superiors of the company to be sure what my classification was.

Reckless78 · #9 05-22-2008, 09:23 AM

Larry your correct. Your presonal property is covered anywhere in the world. Especially if it's scheduled personal property.

Brock Poling · #10 05-22-2008, 01:42 PM

One of the things I really like about Heritage (and companies like them) is the loss of value insurance. I have not seen home owners and personal property insurance cover those sorts of things.... but I could be mistaken.

kitsinni · #11 05-22-2008, 01:46 PM

When you are insuring a guitar, how much do you insure it for? The MSRP, the MAP, the price you paid out the door?

Brock Poling · #12 05-22-2008, 05:41 PM

Quote:

Originally Posted by kitsinni

When you are insuring a guitar, how much do you insure it for? The MSRP, the MAP, the price you paid out the door?

replacement value.

DavidE · #13 05-22-2008, 05:47 PM

"public liability"

What do you mean by public liability?

I insure my gear and my son's vintage saxophones with Heritage. Great coverage. State Farm would not cover my gear since I make money playing, even if some of the gear was never used to make money.

www.musicins.com

min7b5 · #14 05-22-2008, 06:10 PM

Quote:

Originally Posted by ljguitar

Hi min7b5...
I travel a lot with instruments, and that is certainly not true of my rider. It is something to be sure to ask about before buying though. .....

That’s great

I’m sure some companies are better than others. When I asked my Allstate guy about two month ago he said “yeah, no problem”. But I looked into some more and asked him to go research what exactly what happens when one of my guitars, specifically, disappears at a gig or the headstock snaps on a flight, I wasn’t impressed with his answer... I went with Heritage, and it was actually $50 less a year and it also covers my mics, amps...