Insurance

TulsaDiamndDave · Aug 29, 2021

Can anyone share any experience with any insurance company that covers guitars and amps? I see one as a sponsor on this forum, but just curious about any personal experience. Costs? Also, I have homeowners insurance, but they want appraisals on every guitar or amp that I don’t have a receipt for. Of course, everything that I’ve bought new, I have receipts. Used items is another story. Appreciate any feedback.

gibsonjunkie · Aug 29, 2021

I have a rider from Travelers Insurance. I just gave them a list of guitars, serial numbers and replacement value. It costs about $190 for 20 guitars and a keyboard a year. It just occurred to me when I read your post that I should have also included my amps.

TulsaDiamndDave · Aug 29, 2021

Thanks for the info. And yes, you absolutely should include them. Is your policy a homeowners policy?

gibsonjunkie · Aug 29, 2021

TulsaDiamndDave said:
Thanks for the info. And yes, you absolutely should include them. Is your policy a homeowners policy?

It started out that way. Last year Travelers wanted to double my car insurance premium so we took our home/auto to another company and kept the rider.

TulsaDiamndDave · Aug 29, 2021

gibsonjunkie said:
It started out that way. Last year Travelers wanted to double my car insurance premium so we took our home/auto to another company and kept the rider.

Oh, okay. I could just add all my equipment that I purchased new to my homeowners policy by using the receipts for those items, but I’d sure like to have everything on a single policy.

Perhaps someone else will chime in that has experience with a company other than their homeowner policy. Thanks for your reply! I appreciate you!

gibsonjunkie · Aug 29, 2021

TulsaDiamndDave said:
Oh, okay. I could just add all my equipment that I purchased new to my homeowners policy by using the receipts for those items, but I’d sure like to have everything on a single policy.

Perhaps someone else will chime in that has experience with a company other than their homeowner policy. Thanks for your reply! I appreciate you!

I never had to show receipts for anything. Now, this is considered a homeowner policy. If gear is stolen on a gig it might not be covered. Make sure to check that with your agent.

gibson-r8 · Aug 30, 2021

There are two specialty brokers that are commonly used. Heritage and Clarion both offer excellent policies. Your rates are set on your valuation for any instrument whose value is less than $10,000 (IIRC). I highly recommend either, in a claim (and if you are a working musician especially) there are no arguments or questions as to value. I had Heritage for years and made a claim when I had several instruments stolen. At that time Heritage referred me to Travelers (Heritage is just a broker and the policy was through Travelers) and they paid off without any problems. I changed to Clarion because Travelers was so DARN slow (and sympathetic but not very helpful) in helping me recover recover the instruments from the police (took two years) when they were recovered.

Homeowners works but I think the better option is one of these. my dos centavos worth...

AA00475Bassman · Aug 30, 2021

All my gear Insured for stated value , pennies on the dollar I'm not going to tip my cards with amounts Although we travel & live in the sticks . I have a piece of mind I'm at age now when stolen gear is not a concern . I do believe its a Ryder on my personal Insurance .

workinon · Dec 8, 2021

I think everyone has different preferences about insurance companies. Read the reviews on the Internet.
My brother has a musical instrument store. He has a very popular store and a lot of famous and not-so-famous customers. And so it happened many times that by deception, he was sued for a bad tool to get money. After several such cases, my brother bought liability insurance in LiabilityCover.ca.
There was a similar case last week. One of the clients bought a guitar, and because of it, his performance was disrupted, and he suffered damage. He stated that the guitar worked very badly.
Thus, it was the insurance that saved him from a lawsuit. Insurance is good, guys.

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