Steelers Insurance?

Rick Garrett · From: Tyler, Texas

All the talk lately about stolen gear brings up a question. How many steelers have insurance on their equipment to cover them if it were stolen?

I have several guitars that money couldn't possibly replace but I am thinking of insuring them just the same. That way I could at least replace some of my gear if the unthinkable happened.

Any insurance experience among steelers?

Rick

Dave Grothusen · From: Scott City, Ks

It has been years since I needed insurance on my equipment but this is how I remember it. If you carry your gear in your vehicle and do not leave it in a club or a trailer then your homeowners insurance will cover it. That is if you own a home. Otherwise the coverage you can buy is an "inland marine" policy. As I remember it is quite reasonable.

Glenn Suchan · From: Austin, Texas

Rick,

Texas insurance laws differ from all other states. In Texas, there really is no personal insurance policies that will adaquately cover music gear used for playing gigs. Even if it's not a professional endeavor. Your auto or homeowner/rental insurance is adjusted to cover up to a certain amount or percentage of the value, less your deductable. There are no adaquate musical instrument riders in Texas, either.

Your best bet, if you play out on a regular basis, is to join the musicians union and get your gear insured through the union. IMHO, this IS the best reason (if not the only reason) to join the union in Texas.

My advice: Even if you insure your gear adaquately, DO NOT allow your gear to be unattended if you can help it. This means don't leave it in your car for a couple of hours or worse, over night. If you play back-to-back nights at a club, don't leave it over night. The hassle of setting up twice is better than the heartbreak of theft. Also, if your band has a trailer or bus: Don't put the band name on the side of the vehicle. That's as good as telling a thief you have gear for the taking. Be discrete and be aware with your gear on the road.

I've always followed the advice I just gave and I've never lost any gear to theft.

Keep on pickin'!
Glenn

john widgren · From: Wilton CT

Musicpro insurance, through AFM loc.802. Reasonable, and I would not be without it, plus I always take as much personal responsibility for my gear as humanly possible, it is NEVER unattended.

Mike Perlowin · From: Los Angeles CA

I use CLARION MUSICAL INSTRUMENT INSURANCE, and in the past 15 years have filed 2 claims for damages, which were both propmtly paid.

Jon Jaffe · From: Austin, Texas

I have two steels insured. I called the agent for my homeowners insurance policy. I said I want them covered for professional use outside the home. I said I wanted replacement cost. A rider was placed on my homeowners policy for ~$80 a year. This was easy and nothing exotic through Travelers. Great peace of mind.

David Doggett · Posted 21 Feb 2006 8:42 am

My instruments were covered at replacement value in an expensive Chubb homeowner's policy. My pedal steel, amp and PODXT were stolen from my home. There was a large deductible, but the insurance covered about 2/3 of the loss. But then about a year later, I misplaced a bill and missed a premium installment. Chubb cancelled the policy and refused to reinstate it, even though I had been with them 10 years. In addition to the late payment, they cited my one claim as a reason to cancel with no reinstatement.

Glenn Suchan · From: Austin, Texas

Jon,

Since you reside in Texas, double check the wording your policy to make sure your instruments are covered for replacement value. You would have had to provide photos and or appraisal of your gear along with your rider insurance application. Also, make sure they are covered if they are at your gig or in your car away from home. These are the places where most thefts take place which is precisely where Texas insurance riders for musical instruments, I have found, don't cover.

The reason I suggest checking the wording on your policy is because insurance policies in Texas are framed in Texas legislation. In other words, ALL policies from ALL insurance carriers are IDENTICALLY written based on Texas law. There are no variances. And so far, I have not found a single insurer in Texas that will cover total loss, less a deductable, for musical instruments used in performance away from your home.

I'm not saying your agent is shifty, but many are. Insurance agents earn commissions from selling rider policies and some will sell a rider knowing full-well that the policy is NOT what they imply to the buyer. If the rider, in fact, doesn't cover your loss, then you're paying for useless or inadequate insurance.

I'm saying this as a fellow picker and forum member and not to be contrary. I, too, have Travelers homeowner insurance and no such rider was available to me.

Take care and...

Keep on pickin'!
Glenn

[This message was edited by Glenn Suchan on 21 February 2006 at 09:03 AM.]

Jon Jaffe · From: Austin, Texas

Glen, I make more money from my agent, who is a friend, on the golf course, than he makes from my insurance. Of course, everything in Texas involves a lawsuit. Quite clearly on my policy it states what is insured, and under what circumstances. There are deductibles, but at replacement value. They just replaced my roof after one of the spring's hailstorms, and paid the replacement cost, not the original value.

Dave Ledbetter · From: Las Vegas, Nevada, USA

I'm an Insurance guy and if you want coverage for your Steel's then you'll need to endorse your Homeowners policy to have complete coverage. Your Auto Insurance WILL NOT cover ANY personal items. Typically your policy will cover only $250 for music equipment. The rate is so much per $100 for professional or non-professional. If you earn $1.00, then it's the professional rate. Check with your agent, it souldn't be very much premium.

Dave Ledbetter
Allstate

Lana Rosselli · From: St. Louis, Missouri, USA

Rick -

Try one of these websites:
www.clarionins.com - you may contact them directly and do not have to go thru an agent. However, keep this in mind...if your instruments (up to $5000 in value) are kept in your home and NOT used outside the home (wheter it's jammin' with the boys or a paid gig), they should be covered by your homeowners/renters insurance. If you will use your instruments outside your home, you will more than likely need a separate policy.

Another is www.chubb.com. You must go thru an agent with this insurance company but still the same deal.

Both companies require you to pay the annual premium up front. Any instrument with a value greater than $5000 will require a formal estimate.

I obtained this information from an agent contact in Nashville who I have been working with for other steel players. She highly recommends that you first contact your current insurance company and ask them about the coverage. Then go to either Clarion or Chubb depending on whether you prefer agent help or going direct to the source.

If you or anyone in the Nashville area need more information on musician insurance, shoot me an email and I will give you her contact information. Just tell her Miss Lana sent you and you'll be good to go.

Either way you go, it's a good idea to have some coverage.

Miss Lana
SteelRadio.com

Dave Ledbetter · From: Las Vegas, Nevada, USA

Glenn,

I've never met a "Shifty Agent" and we don't earn our money by selling "Riders" The premium to endorse a musical rider is $15 to $20 a year. We get 10 percent of the premium so that means I earn $1.50 to $2.00 per year.

Dave Ledbetter,
Allstate

Glenn Suchan · From: Austin, Texas

David,

I'm sorry. I didn't intend for my post to be an attack on insurance agents and maybe I should have changed my wording to say that some agents are questionable rather than many agents. I have had experience with two in particular, in Texas, that were shall we say, less than straight up with me about my policies and their coverages. The profession of selling insurance is an honorable one, but there are some people who have chosen that profession, that are less than honorable.

The intent of my post was to advise musicians to be absolutely sure about the nature and extent of the insurance coverage they intend to buy.

Once again, my apologies if I offended you or any other honorable insurance agents that may read this post.

Keep on pickin'!
Glenn

Roger Rettig · From: Naples, FL

As others have suggested, I endorse using the Musicians' Union (AFM) related insurance. I'm with the Tampa local and I have about $22,000-worth of gear covered through Marsh Affinity. There's a $100 deductible, and my stuff is covered wherever it might be, including my trunk. This costs me $238 per annum. They did want to know how much equipment might be away from my home at any one time, and I suggested a $10,000 maximum for this.

Like John Widgren, though, I zealously watch my stuff at all times, and I regard this coverage as a hedge against a catastrophic loss, should I ever be so unlucky.

Our Home Policy was hopelessly inadequate for my needs.

RR

Calvin Walley · From: colorado city colorado, USA

i know dave ledbetter and i can tell you this;
if you have any questions about insurance he is the one to ask, he will give you a straight honest answer . and he's pretty good on taxes too

calvin

[This message was edited by Calvin Walley on 21 February 2006 at 05:24 PM.]

JamesMCross · From: Houston, Texas, USA

I have a policy with Clarion that covers my guitars, my steel, my amps, a bunch of p/a gear, and my daughters violas, cases, and bows. She's in NYC, I am in Houston. All the gear is covered for all perils, no matter what, for full replacement value. Every year, we update the replacement value by comparing what it would cost to replace the specific item with one just like it or comparable.

The premium has been $250/year ever since I started it 6 years ago.

My homeowner's agent says the homeowner's rider won't cover instruments while they are being used to earn $$$, regardless of much or as in my own case, how little.

I played about 50 gigs last year, so it's worth it to me after hearing about so many of people who've lose their stuff over the years.

Jake L · From: Grapevine, Texas

I am an independent insurance adjuster in the state of Texas. Trust me when I say that all homeowner's policies are NOT identical. I handle claims for nine different companies (including Allstate), and I have to constantly check policies when I am making adjustment decisions on homeowner claims to reduce the risk of cross reference. Even on those policies that are similar, the management of those companies have different interpretations of the policy language.
Your typical homeowner's policy covers your personal property anywhere in the world, but as stated above, there are exclusions and limits that apply to property used for business. A personal articles policy, or a business policy would be the best bet if not going with a policy from one of the companies that offer the musical instrument coverage.
Jake Lowe

pdl20 · From: Benton, Ar . USA,

I also have it insured with a musician union ins.co .100.00 deduct and replacement cost at my stated value. 200.per yr.

Dave Ledbetter · From: Las Vegas, Nevada, USA

Be sure to have your agent add the coverage on. It's cheap. Most Homeowner policies come with only $250 of coverage.

Dave Ledbetter

Erv Niehaus · From: Litchfield, MN, USA

I checked with Clarion and they gave me a quote over the internet: $1,485 per year!

Now I'm checking on a policy through the musician's union.
Erv

Rick Garrett · From: Tyler, Texas

Thanks for the great replies everyone. This will give me some direction and I appreciate the help.

Rick

Ron Sodos · From: San Antonio, Texas USA

If you think your homeowners policy covers gear at a gig or in your car you better doublecheck. I called my homeowners at State Farm and was told not covered at all. In fact they don't cover any type of professional musical equipment at all. I am in the process of getting quotes from a commercial insurance agent to cover all my gear which probably amounts to over $20,000 replacement cost including a vintage Gibson ES345 and a double 12 Sho Bud steel from the 1970's and lots of other stuff. A dobro, acoustic guitar, Zum, Fessy, 4 amps etc. I decided I was nuts to not have insurance.

Erv Niehaus · From: Litchfield, MN, USA

I just got a packet of info from the AFM and the total cost for $20,000 of coverage is $228.00/yr.
Erv

Ron Sodos · From: San Antonio, Texas USA

Thanx Mike for mentioning CLARION...I just got a quote for $15,000 in equipment for $191 a year. Well worth every penny....

[This message was edited by Ron Sodos on 23 February 2006 at 03:27 PM.]

erik · Posted 26 Feb 2006 4:23 pm

You're going to need it, I don't think they're gonna win next year.

------------------
-johnson

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