Equipment Insurance

MikeS

Student Of The Blues
Staff member
I've always heard ( and @Griff confirmed) that with the cost of insuring your gear you could replace it all on just a couple of years worth of payments.
My cousin's daughter (my niece? 2nd cousin? second cousin something something???)
Is a touring musician. She and her husband tour in a massive van with all their gear in side.
He mentioned that they use Music Pro and it only costs them $300-$350 per year. That sounds pretty reasonable. He said that you stuff is insured where ever it might be stolen from (Home, a gig, a hotel parking lot...) and that there is only a $100-$200 deductible & no upper $ limit.

I'm wondering if anyone has heard of them or used them.
 

JohnHurley

Rock and Roll
If you have good quality home insurance it should cover a reasonable amount of equipment.

Professional musicians should discuss this with insurance rep and maybe carry a rider for personal property insurance.

Decades ago my mom ( playing then in an irish band ) had her Haynes Silver flute stolen ( from stage sitting in case ) it was a like 20 k quality instrument. She received just partial reimbursement not a great amount because not carrying it on policy specifically.
 

MikeS

Student Of The Blues
Staff member
If you have good quality home insurance it should cover a reasonable amount of equipment.

Professional musicians should discuss this with insurance rep and maybe carry a rider for personal property insurance.

Decades ago my mom ( playing then in an irish band ) had her Haynes Silver flute stolen ( from stage sitting in case ) it was a like 20 k quality instrument. She received just partial reimbursement not a great amount because not carrying it on policy specifically.

Now a days homeowners only covers your equipment IF you are not a "Professional" and by that they mean you get paid to play. I gig once or twice a week, so that makes me a "professional".
 

PapaBear

Guit Fiddlier
Now a days homeowners only covers your equipment IF you are not a "Professional" and by that they mean you get paid to play. I gig once or twice a week, so that makes me a "professional".
Only if you tell them you do
 

sdbrit68

Student Of The Blues
out of curiosity, I looked up insurance, it can be had for as little as $150 a year, thats peanuts if you are moving your gear around
 

Griff

Vice Assistant General Manager
Staff member
It does seem that instrument insurance has come down considerably...

Years ago, when I was playing 200 nights a year it seemed a reasonable thing to do. But back then, the price was such that, if I made it for a couple of years without anything being stolen, I'd have paid for it in premiums.

At a couple of hundred $$ a year, that's well worth it. But I wonder how much value that covers? If I'm going out with $25,000 worth of stuff, is it still only $200, or even $250? Or does it become $2000 a year?
 

MikeS

Student Of The Blues
Staff member
It does seem that instrument insurance has come down considerably...

Years ago, when I was playing 200 nights a year it seemed a reasonable thing to do. But back then, the price was such that, if I made it for a couple of years without anything being stolen, I'd have paid for it in premiums.

At a couple of hundred $$ a year, that's well worth it. But I wonder how much value that covers? If I'm going out with $25,000 worth of stuff, is it still only $200, or even $250? Or does it become $2000 a year?

My niece travels with 25-30k worth of gear and her husband said it was around $300-$350.
 

Griff

Vice Assistant General Manager
Staff member
So, now that I'm a vintage instrument owner (see the post I'm about to make in the gear section)... the question of insurance becomes more of an issue.

Not that the guitar is worth so much more than, say my Suhr... but it's not simple to replace. I can't just buy another 69 Strat tomorrow.

Norman at Norman's Rare Guitar said they use a company called Heritage. I'm going to look into it. Laura has a few horns that would also be very difficult to replace and they are also vintage and will continue appreciating in value as opposed to most instruments that will depreciate for a long time before potentially turning around.

I'll share what I find and maybe between us we can find a good solution that doesn't break the bank.
 

kestrou

Blooze Noobie
I've got a couple guitars lying about - and my insurance agent was able to itemize them on my homeowner's without it being a "musical instrument policy" and cost was very reasonable.

Food for thought...

Kevin
 

snarf

making guitars wish they were still trees
I've got a couple guitars lying about - and my insurance agent was able to itemize them on my homeowner's without it being a "musical instrument policy" and cost was very reasonable.

Food for thought...

Kevin
I switched providers last summer. The old company had the rule about "you can't make money with them or they're not covered." The new one did what it sounds like yours did. I had to send them a list complete with S/Ns and receipts (where I had them), and I pay a little extra on top of the base home coverage. But now I can use them for whatever I want, and they're covered. As an amateur that only plays out occasionally (and doesn't have anything that's really high end), I'm good with that.
 

PapaRaptor

Father Vyvian O'Blivion
Staff member
I've got a couple guitars lying about - and my insurance agent was able to itemize them on my homeowner's without it being a "musical instrument policy" and cost was very reasonable.
Food for thought...
Kevin
Yeah, but the itemized list was longer than your overall policy!
 

MikeS

Student Of The Blues
Staff member
Thoughts on what to cover?
Guitars, - Yes
amps - Yes
PA's - Yes
speakers - Yes?
pedals - Maybe?
Cables - Probably not?
 

kestrou

Blooze Noobie
Thoughts on what to cover?
Guitars, - Yes
amps - Yes
PA's - Yes
speakers - Yes?
pedals - Maybe?
Cables - Probably not?
Well... somewhere between "guitar picks" and "rogue nuclear weapons from the former Soviet Union" you gotta draw a line...

The more you insure, the more it costs - and I'm *sure* there's a deductible, so anything less than that deductible would be off the list! :)

Kevin
 
Top