Insurance for instruments

[Cody Russell]

Does anyone have insurance on their instruments? If so, who does that kind of thing and any idea about cost? Figuring that the majority of my net worth is in my gear, I think it's past time to investigate that sort of thing.

[Jim Sliff]

Almost every vintage collector/player I know uses Clarion - rates vary widely depending on what you are insuring, so there's no way to even guess at the cost. They are not an insurance company - they are a broker, but they are specialists in musical instrument coverage.

One thing for sure - most homeowner policies DO NOT cover musical instruments above a fairly low amount (if AT ALL - and there's a large deductible if they do), and even then a rider is often required.


http://www.clarionins.com/

Edited to add - I just went through the quote process to get a couple examples. Prices always vary by where you live, but in my case $5,000 in coverage (figured based on a bedroom or sporadic gig player with one guitar, maybe a couple of amps, effects and accessories) is about $170; $40,000 (a more typical example of a gigging player with some vintage gear and a bunch of amps/effects) in coverage is $465. Their site is slightly fouled so policy details aren't pulling up (at least on my Mac) but they ARE legit and highly recommended on the 6-string forums.

[Cody Russell]

Thanks, I'm somewhere in between but my instruments are probebly worth as much as my car and if I lost them they would be impossible to replace. I appreciate the help.

[G Strout]

You may also want to have a look at MusicPro.
http://www.musicproinsurance.com/
I get mine through ASCAP. Not very expensive and they did pay the one claim I have had so far with a minimum of hassles.
They also offer life, medical, tour liability etc that is all specifically geared to the musician.

[Lorren White]

Jim, you do not say how you use your instruments. If only used at home and not on a professional level (meaning if you get paid) they are covered under the homeowners or tennants policy. If used professional you will need an inland marine floater, which requres you to schedule your instruments by full description and serial numbers and value per instrument.Please keep in mind that homeowners coverage is on an actual cash value basis, which means replacement cost less depreciation. If you have older instruments you want to make sure your coverage is on a stated value basis, which may requre an appraisel to establish the value. Homeowners coverage is primarily premises coverage with a percentage of value away from premises. The floater coverage follows the instruments where ever they may be.

[Jim Sliff]

If only used at home and not on a professional level (meaning if you get paid) they are covered under the homeowners or tennants policy.

That's true, but only within the limits you mention - and in reality most players interested in insurance would be active players - do ONE paying gig and you are no longer an amateur as far as insurance goes...and even "tip jar" money can be considered payment by some insurance companies.

[Russ Cayen]

Check out All State, here in Ontario, Canada they will insure gear on your homeowners policy with a rider. They do want receipts and or an appraisal. Our drummer has his gear insured with them, they say it's covered anywhere and they know he is a paid musician. It's about $70 for $10,000 coverage. Forgot to ask what the deductable is. I'm in the process of switching to them. Hope this helps.