Gear insurance options?

Bossanova

Gold Supporting Member
Messages
7,656
Hi all, me and 2 bandmates are looking into getting insurance for all of our gear this year, and were considering a dedicated music gear policy. Curious as to what you all have, and whether you find it's better to have coverage as part of your homeowners, renters, or auto insurance. need to insure gear at our homes, in transport to/from gigs and practice space (drummer's house)

Thanks and happy new year to all!

edit: we have about 50k to cover all together
 

tiktok

Silver Supporting Member
Messages
22,756
Usually best and cheaper to get a floater to your homeowners policy.
You'll want to specifically, explicitly ask your insurance agent if your musical equipment will be covered. A lot of standard homeowner's policies do not cover it if it's used to earn any money. And yes, they will check your online presence to see if you're a gigging musician should you file a claim.
 

Steve Hotra

Gold Supporting Member
Messages
9,033
Heritage was great to work with...they would even cover shipping gear to get repaired...

I dumped it last year since my "collection" has changed quite a bit, but I figure one of these days when everything settles in, I'll sign back up.
Another vote for Heritage.
Do it now!
 

musicman1

Member
Messages
4,040
You'll want to specifically, explicitly ask your insurance agent if your musical equipment will be covered. A lot of standard homeowner's policies do not cover it if it's used to earn any money. And yes, they will check your online presence to see if you're a gigging musician should you file a claim.
All very true BTW...for many policies you will also need to have all of your insured gear professionally appraised for its value. Many insurers will require re-appraisal periodically.
 

RoryGfan

Gold Supporting Member
Messages
1,499
In the 60's, when my new blonde Fender Tele (and case) got ripped off at a gig, our homeowner's insurance covered it. It never hurts to ask! It got ripped off at a dive called the "The Headhunter's Hut." My family knew the insurance guy, and he did all of our insurance, so I think that he gave us a break. Good guy.
 

JS-29

Member
Messages
806
Stupid question; when should one think about getting insurance for musical equipment? Is there a standard minimum monetary amount your collection needs to be worth?
 

guitarz1972

Member
Messages
4,762
Stupid question; when should one think about getting insurance for musical equipment? Is there a standard minimum monetary amount your collection needs to be worth?
Whenever you think it'd be unrealistic for you to simply replace lost or stolen gear 'out of pocket.'
 

Bossanova

Gold Supporting Member
Messages
7,656
Stupid question; when should one think about getting insurance for musical equipment? Is there a standard minimum monetary amount your collection needs to be worth?
A hundred or 2 per year covers a whole lot of gear...
 

balata9999

Silver Supporting Member
Messages
297
I have an agreed value policy. I have a partscaster on my policy just listed as fender telecaster with warmoth neck. It has a serial number and an agreed upon value just like the others I have insured. Wasn't an issue to get put on there.

I don't have it insured for the value of every part $ added up though, but I didn't feel that was reasonable on my end. I have swapped different pickups and bridges many times. I have it valued at a reasonable amount to replace the body and neck if it was damaged, and it wasn't an issue they agreed and added it to my list.
 

dansworld

Gold Supporting Member
Messages
4,209
I'm with Heritage (policy through the Hartford) and I feel pretty satisfied. Haven't made a claim yet, but they seem pretty flexible with their coverage and benefits.
 




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