Insurance For Guitar Collection

[Keoghpjk]

I am curious if anyone has advice for insuring collections of musical instruments? In addition to my Hamers I have acquired a number of other guitars and basses over the last couple of years, and am of the mind I should start thinking about protecting my collection. I have called my long-time agent to discuss this, but am reaching out here to see if there are any potential issues with a regular policy rider through a major carrier. Would I be better off going with a specialized plan/provider, and if so, with who? Any advice would be much appreciated, thanks.

[Ralph]

I had mine insured through erie ins.

[Jem]

Mine are under my normal house insurance but I had to make sure they totally understood we were dealing with a five figure sum and some of them are fairly rare and not easily valued nor replaced. I was quite insistent about this and tried to give them a disc with pictures and serial numbers but they weren't for some reason interested but I suppose compared to what some people's fucking watch's are worth, and the amount of times these get "stolen", I suppose it's small change but my insurance did go up by more than I was first quoted so a risk was registered somewhere along the way.

Anyway, as with all things insurance, the telling will be when either some lowlife who hasn't a clue what he's got makes away with one, some or all of them or the place burns to the ground - i'll let you know how I get on !

Oh, just to clarify, this is fire and theft ONLY and only covers them in the house, not out and about amongst the great unwashed - that's a totally different ball game.

One thing, do an audit every renewal and note it in your renewal, have you brought anything, have you sold anything ?

I've insured mine for 15 years or so when the few, started to become the many, which started to become the too many, which is now down to a few too many. I know insurance company's aren't exactly know for their honesty but if you do that every year, it gives them less excuses especially as you WILL keep all the paperwork.............................................won't you

[cynic]

Heritage

You're welcome

[analogsystem]

I found musicpro insurance through ASCAP but anyone can use their services. The fees are pretty reasonable and the gear is covered on the road, at home, in an unattended car, etc. I hope I'll never have to make a claim but it is nice to know its there since I have gear in different places at any given time.

[Armitage]

Lots of people assume wrongly that all their equipment is covered by their home owners insurance...

If call and you ask, is my guitar covered, they'll say "yes of course," if you say is my $10,000 worth of guitars and amps and such covered, you'll get a different answer.

Home owners insurance covers things like musical instruments, jewelry, collectables like coins and stamps etc for a maximum of usually $5,000... a Les Paul and a Head... even if you have a million in replacement value insurance!

You can get a special form done, or a rider, or special insurance... "I didn't know" doesn't get a check printed, it just gets an insincere "I'm sorry" over the phone.

It also matters if you play out, then you're a "pro" even if it's your first night out. Insurance companies make billions of dollars every year, they do it by not paying out unless they absolutely have to.

[JES1680]

Yep I had to have a rider, problem is that they require pics, serials, and appraised value. If you are as sick as I and have a revolving door of gear it's really difficult and you end up paying for stuff you haven't had in a year. I"m "trying" to get down to a set of guitars and amps that I can insure and not move constantly. I've got a few guitars that I can't ever see parting with so those will go on, but the outliers and amps seem in constant flux so, I'm crossing fingers .

[RichF]

I have Clarion insurance on my gear. Completely separate from homeowners. Costs me $160 per year for about 12K in coverage.

Covered at home, at gigs, during transit and even if I ship. At least that's the story I got when I signed up. Thankfully I haven't had to file a claim.

[veatch]

Heritage

You're welcome

This. And thanks for the reminder. I need to update mine...

[atomicwash]

Heritage

You're welcome

I use Heritage. Never had a claim, but they have been great to work with.

My contact:

Robin A. Riotto

Musical Instrument Department

Heritage Insurance Services, Inc.

826 Bustleton Pike, Suite 203

Feasterville, PA 19053

Tel: 1.800.289.8837 ext. 104

Fax: 215.322.5854

Direct Dial: 215.322.9174

robin@musicins.com

www.musicins.com

[fractal]

I have Clarion insurance on my gear. Completely separate from homeowners. Costs me $160 per year for about 12K in coverage.

Covered at home, at gigs, during transit and even if I ship. At least that's the story I got when I signed up. Thankfully I haven't had to file a claim.

I use Clarion as well. Their customer service is great, although I haven't had to file a claim either (knocking on wood right now, which is easy when playing guitar). I went with them because of reports of people who did have to file a claim.

I have heard good things about Heritage as well, so it may be a toss-up...

[Steve Haynie]

Someone was talking about his stolen guitars in a music store one day. He had been buying new Gibson limited editions and similar guitars. His insurance company covered all the instruments for their replacement value, but the catch was that he had to replace them. The guy had to buy a replacement guitar then get reimbursed. He was buying one at a time, tying up a couple thousand or more each time until he got reimbursed.

[kizanski]

Heritage

You're welcome

I use Heritage. Never had a claim, but they have been great to work with.

My contact:

Robin A. Riotto

Musical Instrument Department

Heritage Insurance Services, Inc.

826 Bustleton Pike, Suite 203

Feasterville, PA 19053

Tel: 1.800.289.8837 ext. 104

Fax: 215.322.5854

Direct Dial: 215.322.9174

robin@musicins.com

www.musicins.com

+1 on Heratage, and I HAVE had a claim.

First of all, they are very easy to work with and don't treat you like a criminal when you have a claim.

They make the process of insuring your instruments as easy as can be: just send them a list of what you have (year/make/model) and what YOUR appraised value is. They don't ask for pro appraisals, just what you think it's worth, should you have to replace it. And that's it. They send you a bill for the premium. The cost is really cheap for hat you're getting which is total peace of mind.

Secondly, when it's time to put in a claim (stolen, damaged, whatever), there are no hoops through with you need to jump.

I had a Huber Orca on a stand (a Hercules stand at that) and the guitar got knocked over and face-planted on my concrete basement floor.

There were some chips on the front edge the body and the headstock was cracked.

I sent it to BCR, Greg fixed it and sent it back to me in like-new condition.

So, the claim...

I had a claim (in my opinion) for the cost of the repair, but what about the loss of value on the guitar? I'm not the kind of guy to pass of an invisible repair as if the damage never took place, but I shouldn't lose my ass in the process. That's why I have insurance.

Greg sent me a bill for the repair and an estimate of the loss of value.

I had it insured for $6000, and between the repair and the loss of value, they paid me about $3500 without any pushback whatsoever.

Then I sold the guitar.

[Armitage]

I've never heard of it. Worth checking out, thanx.

[kizanski]

You don't need to go to some musical instrument specialty insurer unless you don't have coverage with a homeowners or renters policy. All major companies offer Inland Marine coverage. It is WAY CHEAPER than going with a specialty insurer.

I don't know about that. Heritage's prices are pretty hard to beat, and my home owner's carrier couldn't get near it.

At one point I had a total of $75,000 worth of guitars covered for less than $250 a year.

Heritage covers your instruments if they're in your house, in your car, at a gig, on a space ship... Every scenario other than (and I'm not making this up) terrorism.

That's right. If al qaeda fucks with your shit, you're out of luck, but everything else is covered.

Add to that the ease of filing a claim (and getting paid Pronto) and you're going to have a hard time doing better.

[kizanski]

I work for an insurance company, so I hear you when you reference the three rating groups. It's very important.

Speaking from experience, though, they pay. They pay quickly, and they don't ask a lot of questions.

Luckily, I haven't needed to file a claim the magnitude of the scenario you described, but even a $75,000 claim is nothing for an insurance company. Even a small one.

Conversely, your home owners carrier will find every excuse not to pay you, or you'll have a deductible, or some other gotcha.

Hopefully we'll never find out.

[cynic]

From their site:

Heritage places coverage with 4 major US insurance companies, allowing us to customize a unique policy for you that provides comprehensive protection at affordable cost.
Our unique rating system and underwriting expertise enable us to give you quick and accurate rate quotations…and to create the one policy that best meets your specific needs.

Heritage offers policies for as little as $250.00 per year, and you can choose deductibles that range from $0-$500.

Our Musical Instrument Insurance Partners

Travelers Property Casualty Company of America
Trumbull Insurance Company (The Hartford Group)
XL Specialty Insurance Co.
Harleysville Insurance Company

[cynic]

I have USAA and recently had to pay my deductible for a hit & run even though it was categorized under uninsured motorist. I like them for the most part, but they weren't shy about adhering to California's silly insurance laws stating I need to provide a name for a hit & run driver.

In recognition of the tens of thousands I've paid them over the years, it would have been nice to have them throw me a bone.

[LucSulla]

I have a rider that attaches to my renters insurance. It's something like $11 a month to cover nearly $20K worth of gear through USAA. When I got the policy, they said even if I just stepped on one that it was covered. I asked, "So I can throw it in a chipper, and you will cover it." I was told that as long as I wasn't doing it all the time, pretty much.

Totally worth it.

[Armitage]

...or caught.

[kizanski]

...California's silly insurance laws stating I need to provide a name for a hit & run driver.

This is a real thing? WTF??

[atomicwash]

...California's silly insurance laws stating I need to provide a name for a hit & run driver.

This is a real thing? WTF??

So you follow the hit & run driver and politely ask for their contact info so you don't get screwed by the insurance company that you pay premiums to. Sounds like a good law to me. And safe too.

[kizanski]

Yeah. What could go wrong there?

[cynic]

...California's silly insurance laws stating I need to provide a name for a hit & run driver.

This is a real thing? WTF??

They filed mine under both a hit & run and uninsured, so it was the uninsured rule that kicked in. In my case the incident occurred in a parking lot, and would you believe the unknown driver didn't leave a note??

In other words, California gives insurance companies an instant out if the scenario makes it impossible for them to recoup monies.

3. The accident must involve actual, direct

physical contact between your covered

auto and an uninsured motor vehicle.

The owner or operator of the uninsured

motor vehicle must be identified or, the

uninsured motor vehicle must be

identified by its license number. You, or

someone on your behalf, must report the

accident to us within 10 business days.

[Armitage]

Criminal.

[Thundersteel]

I know this is an old thread, but...

I just got a quote from USAA for $34k--policy is less than $100/year.