Gear Insurance

[Regor]

Ok, so I know I've seen it somewhere... but apparently I fail at using the search function.

I'm about to close on a house, and I'm shopping for Homeowner's Insurance currently. I KNOW that somewhere, there has been discussions about getting your guitar gear insured under it... and I remember specifically someone saying that they had their stuff insured and it also covered it if it left the house (to a gig). So I'd like to find out who does that, so I can get a quote.

If you know of or have your stuff insured, please share your story

Thanks,
~Roger

 

[Sepultorture]

when i lived in an apartment, apartment insurance did not cover music gear, and i'm pretty sure it's not covered under home owners insurance either, it is it's own separate insurance.

i need to get my new stuff insured soon

 

[matttttYCE]

This would be the most amazing thing ever. I've always wanted to have my gear insured (especially for when it's out at a gig or travelling with me) but everyone I've talked to has told me it's not possible, and only covered if inside your house when you have home owners insurance.

Anyone with more info?

 

[JJ Rodriguez]

This would be the most amazing thing ever. I've always wanted to have my gear insured (especially for when it's out at a gig or travelling with me) but everyone I've talked to has told me it's not possible, and only covered if inside your house when you have home owners insurance.

Anyone with more info?

Then everyone you've talked to is full of shit You can have ANYTHING insured for the right price...

I believe you can get it covered under your homeowner's insurance if you claim it when you're setting up the policy. Other than that, I'd talk to your insurance agent about a separate policy, and since you're getting your home insurance through them, they might cut you a deal. Hell, ask about your car too, a lot of times places will give you really nice rates if you get all your insurance through them.

 

[Regor]

Already getting the car and house together

 

[JJ Rodriguez]

Best person to ask then is probably your insurance agent.

 

[AK DRAGON]

interesting
15 years ago Renter's insurance covered my gear
guess things have changed

 

[GorillaSalsa]

First hit on google - MusicPro Insurance -- Affordable Insurance for the Music Professional

 

[7stringless]

A little story for everyone to consider.

A friend of mine thought his gear was covered under his contents insurance which was supposed to cover up to $175,000. He was assured this by the broker that sold him the policy. He had apprx. 8 guitars and several vintage and new amps but, as it was his business, he had thousands in PA/DJ equipment. To make a long story short, he goes to make a claim after a flood iirc. In fact he did have $175,000 coverage but (and this is standard among home owners policies) only 10% could be paid out for electronic equipment. This would include any other electrical item damaged like TVs or computers. Also, he was told to produce receipts and that most/all of his gear would have a depreciated value regardless. He got the full 10% but he estimated the total loss at $80,000.

So, many years later I'm moving and my gear is in storage during the transition and the storage company offers me insurance. I tell the the story above and he says we'll call and see what the deal is.......bottom line.......when I told them what I had they weren't interested and told me they pay a max of $1,250 for electronic equipment. I said no thanks and went straight to my broker. I gave him a list with actual replacment values for everything and asked him to see if any of the companies they dealt with would cover it. He said out of dozens only one said they would cover the full value specifically against fire and theft only.......and only in the storage unit.....not in transition. Here's the kicker......for 2 months insurance for the full value ($27,000) in an indoor storage unit with a $40 lock they insisted I buy.......$650!!! I ended up buying the lock and said fuck it to the insurance.

The truth is, if there was a company that covered full replacement value for electronic equiptment, I wouldn't trust them anyway. Insurance companies don't typically pay.......because they know you can't afford to fight for it. They pay car and home claims fairly consistantly because they know the finance can afford the fight.

Myself, I refuse to pay it but if you decide to.......keep your reciepts and if you have bought your gear used.......expect to get raped on the replacement value (generally less than half). That's if you don't get straight up denied.

BTW my old man is a lawyer and I hear this shit every day so I may sound overly cynical but most people just don't know the truth.

 

[AK DRAGON]

^^^ It's all true.. Insurance is Gov't sanctioned scams