#989482 - 03/12/04 02:28 PM
gear insurance
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philles
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Registered: 03/11/04
Posts: 2
Loc: Nashvile
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can anybody recommend some companies that are good at insuring studio gear?
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#989483 - 03/12/04 03:41 PM
Re: gear insurance
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bdbklyn
Platinum Member
Registered: 04/04/01
Posts: 1035
Loc: Los Angeles,CA,UNITED STATES
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Give Joe Montarello at the Receording Studio Insurance Program a call @ 518-456-3901 or email joem@capregins.com.
Tell him Bill Dooley sent ya....He'll give you the low down on the coverage to get and the costs.
you can do a search of the forums for insurance...there is a lot of good information here
Bill Dooley
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#989484 - 03/12/04 06:53 PM
Re: gear insurance
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Bill@Welcome Home Studios
MP Hall of Fame Member
Registered: 08/23/03
Posts: 7343
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While you are at it, check into liability insurance.
Bill
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#989485 - 03/13/04 03:30 AM
Re: gear insurance
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AudioMaverick
Platinum Member
Registered: 05/19/01
Posts: 1790
Loc: Outskirts of Big Bear, CA,UNIT...
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http://www.musicproinsurance.com/
I've been holding this company's URL for a couple of years. I'm not a viable busines, yet. But, they were suggested, here. One day, I'll be calling them for a quote...
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#989486 - 03/15/04 01:00 PM
Re: gear insurance
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KeyBored
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Registered: 01/02/04
Posts: 14
Loc: LA-LA Land... where else?
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Believe it or not, the AFM insurance is pretty good and very inexpensive. The nice thing is that you're covered worldwide, in the event that you travel.
It's only for members and really one of the only reasons to even be a member.
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#989487 - 03/17/04 03:13 PM
Re: gear insurance
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bdbklyn
Platinum Member
Registered: 04/04/01
Posts: 1035
Loc: Los Angeles,CA,UNITED STATES
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One of the reasons to talk to an insurance pro, is to get the real skinny on the coverage. Many insuranace carriers provide for "insurance", however, you can find out if you do have a loss that the replacement value of your equipment is not fully covered. Joe Montarello is a good guy who will give you the reall scoop on your existing coverage and how much it will cost you to get the coverage that you think that you have. One of his options is a program called "co-insurance". This program allows you to cover your replacement costs at a much lower fee than if you were just with one compnay.
Joe understands our business and the needs of it. I would give him a call if you have any insurance questions.
bill
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#989488 - 03/17/04 04:25 PM
Re: gear insurance
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Valkyrie Sound
Platinum Member
Registered: 01/01/01
Posts: 1878
Loc: LA, CA, UNITED STATES
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I've spoken to Joe several times.... The only problem is that his business is not set up here in California yet so I can't get insurance with him.
Bill... do you know anyone out here in LA?
Valky
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#989489 - 03/19/04 12:39 AM
Re: gear insurance
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bdbklyn
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Registered: 04/04/01
Posts: 1035
Loc: Los Angeles,CA,UNITED STATES
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I met with Joe a few months ago and he wants to open up shop out here and I believe is making inroads into doing so.
II'll call Joe when I have some time and also make some local inquiries for you.
BTW
Valky...what's up?
bill
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#989490 - 03/23/04 12:33 AM
Re: gear insurance
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Jazzman
Platinum Member
Registered: 08/15/01
Posts: 1409
Loc: ,,Hartland MI,USA
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If your studio is in your home..won't home owners insurance do the same thing with the extra coverage??
Jazzman 
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#989491 - 03/23/04 01:30 PM
Re: gear insurance
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bdbklyn
Platinum Member
Registered: 04/04/01
Posts: 1035
Loc: Los Angeles,CA,UNITED STATES
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For most of us it will, but not if you are operating your studio as a business. Rules may vary state to to state so check your coverage with your provider.
bill
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#989492 - 04/21/04 03:20 PM
Re: gear insurance
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freelance
Senior Member
Registered: 03/18/02
Posts: 349
Loc: Oh, I forgot?
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If the studio is in the home there are several concerns.
1) Most home policies have limitations of coverage for "electronic devices" - so you may not have enough coverage without a rider
2) If it's business use, it is excluded under home coverage (not only the property coverage but liability coverage, if someone gets hurt, is also excluded.
I have a seperate inland marine rider (for property only) which gives me $60,000 for $150 a year - this covers a small demo studio in my home.
Most brokers should be able to access this type of coverage. I agree the coverage offered through AFM is decent coverage.
However, if it is a stand alone commercial studio, I suggest you find a broker who handles commercial coverage (vs. personal lines coverage)
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#989493 - 04/26/04 02:54 PM
Re: gear insurance
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duskb
Senior Member
Registered: 06/15/01
Posts: 194
Loc: Los Angeles, Ca
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Originally posted by AudioMaverick: http://www.musicproinsurance.com/
I've been holding this company's URL for a couple of years. I'm not a viable busines, yet. But, they were suggested, here. One day, I'll be calling them for a quote...
If you haven't shopped them against Bill's contact you should. Let me know your results my policy is up for renewal in July. They have been good to me but with any insurance customer loyalty is not something I feel convicted about.
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#989494 - 04/27/04 01:19 AM
Re: gear insurance
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bdbklyn
Platinum Member
Registered: 04/04/01
Posts: 1035
Loc: Los Angeles,CA,UNITED STATES
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I've canvassed quite a few people about insurance on the West Coast. Everyone who has ever filed a claim has been less than happey with their coverage if they have been happy with the premiums. Replacement value is something that is not always forthcoming.
The biggest problem, is that they look at recording equipment as if were expensive medical equipment and want to settle for less than 10 cents on the dollar for replacement value. A Faichild compressor for example sold for less than $600 new. They are now being traded for over $28,000. Make sure you have an independent appraiser check your inventory periodically.
Bill
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#989495 - 05/13/04 04:52 AM
Re: gear insurance
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duskb
Senior Member
Registered: 06/15/01
Posts: 194
Loc: Los Angeles, Ca
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Originally posted by bdbklyn:
I've canvassed quite a few people about insurance on the West Coast. Everyone who has ever filed a claim has been less than happey with their coverage if they have been happy with the premiums. Replacement value is something that is not always forthcoming.
The biggest problem, is that they look at recording equipment as if were expensive medical equipment and want to settle for less than 10 cents on the dollar for replacement value. A Faichild compressor for example sold for less than $600 new. They are now being traded for over $28,000. Make sure you have an independent appraiser check your inventory periodically.
Bill
Still interested in hearing what sort of response the last guy got though.
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