sidereal Posted November 7, 2001 Share Posted November 7, 2001 It's about time I started thinking about insurance for my gear. I've got quite a lot to lose should something bad happen, not just drums (2 kits) but also in my studio gear (Pro Tools TDM system). Can anyone point me in the right direction for insurance carriers that are kind to musicians? No phone calls, knocks on the front door, or sales pitches, please. Just for the record. Link to comment Share on other sites More sharing options...
rlhubley Posted November 8, 2001 Share Posted November 8, 2001 This is a great idea Side. I will have my gear insured eventually. You have a few options, some of which you may already have. If you have a house, then you probably have home-owner's insurance, in an apt you have(or may obtain) renter's insurance(this would also apply to rent homes). Check your policy, read it very carefully. Your gear may be covered. Do the same for you vehicle insurance. What if you have all of your gear in your vehicle and you get in a wreck and some or all of the gear is damaged badly? Does your vehicle insurance cover it? And DEFINITELY make sure you have some theft protection for your vechicle. If your kit is stolen from your car, it is a lot cheaper to pay that deductible than it is to buy new gear. Theft coverage is a must, in my opinion. Now back to the home or renter's insurance, really read that policy. You should even call your rep and let him/her help you with it. If your gear is not covered, he may be able to write it into your policy without raising the premium too much. If you live in an area that is commonly affected by floods, tornados, or hurricanes, you might consider coverage for these conditions. A flood could really screw up your equipment. If you don't have any insurance, you have some shopping around to do. This would be a good time to be a member of the Union, they would probably have some sort of group plan that would be given to you at a special rate. If you aren't a member, you might want to contact them and find out if they have a instrument insurance for their members. IF they do, just get the contact info for whichever company they use. This way, you'll at least be contacting someone who deals with instrument coverage. You won't get the special rate, but it will be beneficial to have the company with experience. I know I typed a lot, but I hope it helps you out. I'm pretty good with things of this nature, so feel free to ask anything else. Link to comment Share on other sites More sharing options...
Jazzman Posted November 9, 2001 Share Posted November 9, 2001 I agree with rlhubley, in everything he stated. All of my studio gear is covered in my home owners policy, it would be the same as your in home stereo system. I don't think my rate changed, but because I own the studio, it might be a little more. I have to check with the wife. :rooleyes: I also agree with having insurance for carrying the kit in the car, truck, or van too. What about at a gig?? I would also get the insurance rate for a new set if the old one disapears, you won't find another kit like yours for the price of a used set. I think that would be worth it if this is your livelyhood! List everything and put a dollar value to it new (list) and at todays dollars. Up date as required. Keep flysheets of the equipment, take pictures of everything and place them in a safe or lock box. Original reciepts help prove the cost when purchased, then update for todays dollars. Just some more support and info............. Jazzman Link to comment Share on other sites More sharing options...
sidereal Posted November 9, 2001 Author Share Posted November 9, 2001 Good points. what if your gear is part of your business? it doesn't then fall into home owners or renters insurance does it? this is why I'm thinking I'd sort of like to get a separate policy with good rates. Just for the record. Link to comment Share on other sites More sharing options...
rlhubley Posted November 9, 2001 Share Posted November 9, 2001 that's a tough one. In my 21 years of living on this planet, I have not faced that question, and therefore do not know the answer. BUT, I can tell you who does know, your insurance rep will be able to help you out. Call him and ask away. Keep us posted on the outcome. Link to comment Share on other sites More sharing options...
felix stein Posted November 9, 2001 Share Posted November 9, 2001 Believe it or not, Gig magazine did a nice article on Insurance companies that specialized in the needs of musicians last year.... I'll have to find it (yeah RIGHT) felix's band Link to comment Share on other sites More sharing options...
rebonn Posted November 9, 2001 Share Posted November 9, 2001 A homeowners policy will not cover commercial equipement of any kind, unless you have an endorsement for something like office equipement for a buisness run from your home. If something were to happen to recording equipement, it would be covered if you could convince the insurance company it's for personal use and then the big problem is there are limits on musical instruments, electronics, etc... You could schedule the equipement but then again if you use it professionally there will be problems on claims. You usually have 75% of the dwelling amount for contents on homeowners policies and could possibly cause no problem on a total fire loss other than the fact that you would be cancelled and have problems getting insurance again. Theft however is another story. This is where you would run into problems like what was it used for, was it scheduled, and most of all, limits. I have an Inland Marine policy with Kemper Insurance written through United Insurance Agencies in California. www.blairsdevillestudios.com Link to comment Share on other sites More sharing options...
Jazzman Posted November 11, 2001 Share Posted November 11, 2001 Folks, I found out about my homeowners policy, the studio is covered with it, extra clauses to the policy. Follow the instructions of the other people here, verify with the insurance companies, make sure that you understand everything in real terms with the agent. Jazzman Link to comment Share on other sites More sharing options...
DrummerCafe Posted November 11, 2001 Share Posted November 11, 2001 You need to get Professional Insurance which covers your gear no matter where it is. These policies take care of your gear if it's stolen or damaged by fire, water, idiots, students, etc. No matter where it is, club, car, and casa ... it's covered. If you make money in music, this is the type of insurance you'll need. Home Owners insurance will NOT cover your gear if you are at a club and some drunk pukes all over your gear ... just before he does a flying belly flop! Believe it or not, the insurance isn't that expensive. Contact the local Musician's Union and they'll be able to give you more information. Better still, call Percussive Arts Society Headquarters; they have offered Professional Insurance (through various Underwriters) to it's members for decades. Drummer Cafe - community drum & percussion forum Link to comment Share on other sites More sharing options...
sidereal Posted November 12, 2001 Author Share Posted November 12, 2001 Originally posted by Bartman: You need to get Professional Insurance which covers your gear no matter where it is. These policies take care of your gear if it's stolen or damaged by fire, water, idiots, students, etc. So they offer Idiot Insurance? That's cool cause I need some of that. Does that just cover music gear, or protection from everyday idiots I come across in life. So "Professional Insurance" is the name of the provider? I'll definitely look into that. I don't own a home anyway, so home owners coverage is not possible for me. Thanks everyone. Just for the record. Link to comment Share on other sites More sharing options...
DrummerCafe Posted November 12, 2001 Share Posted November 12, 2001 Originally posted by sidereal: So "Professional Insurance" is the name of the provider? I'll definitely look into that. I don't own a home anyway, so home owners coverage is not possible for me. Thanks everyone. No, professional insurance is the type of insurance you need. When you call for a quote, tell them that you need "professional insurance" which is what most agencies refer to as insurance coverage for professional's tools, gear, equipment, etc. It's in a special category because you would be using the insured items at various locations and/or for you trade/business. If it's not in your home, it won't be covered. Drummer Cafe - community drum & percussion forum Link to comment Share on other sites More sharing options...
ModernDrummer Posted November 12, 2001 Share Posted November 12, 2001 Just as a sidebar, you might also want to avoid 'offshore' companies when you go to insure. Most likely, their rates will be cheaper. Sometimes, by quite a bit. But, and it's a BIG butt(!), MOST of the time you'll play hell collecting if anything goes wrong and you need to file a claim. And what the heck good is paying a cheap rate for insurance IF you can't collect from the company IF you ever needed to? I agree with the others here, especially Bartman about what you'll most likely need. If all else fails, try Lloyd's of London. They'll insure about just about anything on the planet, including Juliet Prowse's legs, and David Lee Roth's paternity insurance. We also have a blanket liability policy (an "umbrella" policy). Yeah, strange as it sounds, if you're playing a gig, and some moron does a 1 1/2 off the stage while you're bangin' out "For Whom The Bell Tolls" or something, you'll probably get sued. Yeah, I know it sounds stupid, and it IS, but keep two words in mind before you say "Ahhh, I don't need that": Judas Priest. If you always do what you've always done, you'll always have what you've always had. Link to comment Share on other sites More sharing options...
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