Gear insurance

[Steve Nathan]

I know this has been discussed before, but I have a specific question.  I've had my gear insured by AFM affiliated Mercer for decades.  Hard to beat their $1 of premium per $100 of value.  They have however been struggling to keep their coverage provider, and seem to change companies every year. I'm looking at alternatives. Anyone use MusicPro Insurance? Besides riders on Homeowners, any other options with good reviews?

 

[Bobadohshe]

All I can say anecdotally is that the few cats I know that have used it all think it's great.

[lightbg]

Not much help, but I've been with MusicPro for 12 years. Decent rates, not a rider - completely separate policy - plenty of paperwork, but all transactions online. Haven't needed to file a claim, but I have confidence that they will provide payment as per contract. I did submit receipts with serial numbers, etc., and dates, but for my Hammond/Leslies I pushed the value upward since their replacement cost far exceeds the receipt value.

 

Jake

[HammondDave]

I used to have MusicPro. One night someone followed me home after a gig and stole all my equipment from my car in my locked garage. They payed quickly for the replacement value. Highly recommend them. You need to supply serial numbers for everything. 

[mcgoo]

I have Clarion, which is another company that specializes in musical instrument insurance for pros. Been pleased with them. Same rate you mentioned with replacement cost, not actual cash value. 

[George88]

Very happy with Clarion here as well.

[jazzpiano88]

I had an Inland Marine policy when I was playing regularly.  It had to be specially written for every item and professional use.    I'm not sure why they called it that.  Maybe they thought boats sinking inland were as good an actuarial investment as someone walking off with the CP70.  

Now I self insure everything except the house and liability as I can live with the downtime and replacement cost. 

[DJkeys]

Music Pro user for many years, never had to file a claim so far, service has been good-

 

-dj

[Moonglow]

On 6/30/2024 at 4:45 PM, lightbg said:

Not much help, but I've been with MusicPro for 12 years. Decent rates, not a rider - completely separate policy - plenty of paperwork, but all transactions online. Haven't needed to file a claim, but I have confidence that they will provide payment as per contract. I did submit receipts with serial numbers, etc., and dates, but for my Hammond/Leslies I pushed the value upward since their replacement cost far exceeds the receipt value.

 

Jake

Are receipts absolutely required? Some of mine are long-gone. Also, how is replacement cost determined?

[mcgoo]

41 minutes ago, Moonglow said:

Are receipts absolutely required? Some of mine are long-gone. Also, how is replacement cost determined?

 

I can't speak for Music Pro. With Clarion, a receipt or written appraisal is needed only if an instrument is valued at over $5k. I did provide serial numbers for anything that had one. As for replacement cost, you set your own value. 

[ksoper]

On 6/30/2024 at 4:21 PM, Steve Nathan said:

I know this has been discussed before, but I have a specific question.  I've had my gear insured by AFM affiliated Mercer for decades.  Hard to beat their $1 of premium per $100 of value.  They have however been struggling to keep their coverage provider, and seem to change companies every year. I'm looking at alternatives. Anyone use MusicPro Insurance? Besides riders on Homeowners, any other options with good reviews?

 

 

Steve, I was in the same boat.  Got the letter from Mercer (New Hampshire Insurance Co). My AFM account was automatically transferred to a new carrier. Love the name:  Accelerant National Insurance Company. I looked them up and they rate well.  The premium was essentially the same, $1=$100.  Reach them at plsdsteam.service@getamba.com or 800-503-9230.