Dave Pierce Posted January 21, 2004 Share Posted January 21, 2004 Hi Guys, It occurs to me lately that the dollar value of my collective gear is growing to the point that my renter's and car insurance policies may not cover damage or theft. Can you guys recommend a good company for insuring musical equipment? What do you use? --Dave Make my funk the P-funk. I wants to get funked up. My Funk/Jam originals project: http://www.thefunkery.com/ Link to comment Share on other sites More sharing options...
linwood Posted January 21, 2004 Share Posted January 21, 2004 I've got my gear/liability with Nova Casualty.Man, I'm getting so sick of ins. rates. With my gear/health/ auto (I've got a 19 year old son driving)I pay around $1600 a month. Shit, I didn't even consider the policy on the house or the life ins. Link to comment Share on other sites More sharing options...
JimmieWannaB Posted January 21, 2004 Share Posted January 21, 2004 When I bought the B3, I started thinking about insurance. Someone suggested Clarion. They handle instruments and studio gear. I got a quote for $250 annually with no deductible to cover $20k of gear. Coverage is worldwide and all-risk (whatever that means). I passed only because I'm not a gigging musician and my home insurance covered the B3. If I were taking gear on the road, I'd give it a second look. Here's a link to their website - Clarion Insurance. Link to comment Share on other sites More sharing options...
JimmieWannaB Posted January 21, 2004 Share Posted January 21, 2004 I looked at Clarion's site for their definition of "All Risk" Every possible type of damage or theft is covered except those very few exclusions listed in the policy. Clarion excludes the following situations. 1) Wear and Tear 2) Governmental seizure or War 3) Inherent Vice 4) Dishonest acts of resident relatives 5) Terrorism if the act is intended to persuade our government Now, don't you feel safer with Saddam out of his spider hole? Link to comment Share on other sites More sharing options...
MurMan Posted January 21, 2004 Share Posted January 21, 2004 Damn, that "inherent vice" clause leaves me out. Casio PX-5S, Korg Kronos 61, Omnisphere 2, Ableton Live, LaunchKey 25, 2M cables Link to comment Share on other sites More sharing options...
ksoper Posted January 21, 2004 Share Posted January 21, 2004 And for all members of a musician's union, the equipment insurance they offer through...what are they called now? Seabury & Smith? Anyway, contact your local. The insurance works! I had a VK-7 stolen and my policy with them was so new the ink hadn't dried. They covered the VK for the full amount claimed less $100, and never raised my rates after that. I carry about $25k of coverage for about $250 a year. k. 9 Moog things, 3 Roland things, 2 Hammond things and a computer with stuff on it Link to comment Share on other sites More sharing options...
eric Posted January 21, 2004 Share Posted January 21, 2004 It occurs to me lately that the dollar value of my collective gear is growing to the point that my renter's and car insurance policies may not cover damage or theft. Dave, from what I understand, the value is a moot point in terms of coverage by your existing policies (renter's or auto). I've talked to several insurance professionals that tell me any gear that is used professionally would NOT be covered by typical homeowner's/renter's or auto insurance. The definition of professional to an insurance carrier is "Did you use it to make any money?" If you are truly a hobbyist with no evidence of pro use, you may be safe. If you gig around town, you are probably not covered. So it matters not whether you have one cheap old synth like a DX27 vs. a full-blown rig including an RD700, Electro and AN1x. If you are playing out and it is more than a hobby, you need a separate policy. This could be a rider on your renter's insurance or a separate policy by someone like Clarion. I tried to get a rider, but my homeowner's insurance would not offer one that I needed. I called Clarion and had received the info I needed to sign up. Like someone mentioned, their lowest policy is in the $250-300 range and has a cap of about $20k. Seems like I was quoted $350 for $30k and that was the minimum coverage they offered, but it was a couple of years ago. I've decided to be "self insured" and just assume the risk. I travel carefully with my gear and don't take too many risks leaving it alone for long. I don't carry sentimental or unreplaceable gear very often. If it all disappears one day, then I'll just go buy a new rig! Good luck, Eric Link to comment Share on other sites More sharing options...
JimmieWannaB Posted January 21, 2004 Share Posted January 21, 2004 Originally posted by Murman Damn, that "inherent vice" clause leaves me out. I was more concerned about Governmental seizure or War. Gotta start making those IRS payments on time. Link to comment Share on other sites More sharing options...
zeronyne Posted January 21, 2004 Share Posted January 21, 2004 Originally posted by eric: Dave, from what I understand, the value is a moot point in terms of coverage by your existing policies (renter's or auto). I've talked to several insurance professionals that tell me any gear that is used professionally would NOT be covered by typical homeowner's/renter's or auto insurance. The definition of professional to an insurance carrier is "Did you use it to make any money?" This is not true in 100% of cases. I have a homeowner's policy with Liberty Mutual, and I easily got a rider for the actual value (replacement value) of all of my gear, and I did let them know that it was part of my job. They didn't have a problem with it as long as I didn't have any other insurance on it. "For instance" is not proof. Link to comment Share on other sites More sharing options...
rebonn Posted January 21, 2004 Share Posted January 21, 2004 1,000,000 liability 75,000 equipement should not cost over $500 a year. Try and find an agent who writes for Zurich. They have one of the best small buisness packages. If it's in your home, just schedule it on your homeowners. That's the cheapest way if you can do it. www.blairsdevillestudios.com Link to comment Share on other sites More sharing options...
Byrdman Posted January 21, 2004 Share Posted January 21, 2004 Originally posted by MurMan: Damn, that "inherent vice" clause leaves me out.What the hell is "inherent vice". I mean I could understand if they wouldn't cover damage occuring while playing in a brothel (sadly there's not much call for piano players in brothels anymore)but is that "inherent" vice or some other kind. We were playing last Sunday and the manager suddenly stops the music (quite a feat - the band never manages to do that ) and says "everyone out now". So there's me standing on the pavement working out I've got at least 4000 dollars worth of gear in there. Fortunately nothing bad happened. Link to comment Share on other sites More sharing options...
Joe Tee Posted January 22, 2004 Share Posted January 22, 2004 Try "Music Pro Insurance" their rates are much better than Clarion. http://www.musicproinsurance.com/ Link to comment Share on other sites More sharing options...
Valkyrie Sound Posted January 22, 2004 Share Posted January 22, 2004 This topic always comes up..... Who here has filled a claim with Clarion or Music Pro? Valky Valkyrie Sound: http://www.vsoundinc.com Now at TSUTAYA USA: http://www.tsutayausa.com Link to comment Share on other sites More sharing options...
dementia13 Posted January 22, 2004 Share Posted January 22, 2004 I've known people to say that the insurance you can get is reason enough in itself to join the musicians' union. (sadly there's not much call for piano players in brothels anymore) Damn DJs Link to comment Share on other sites More sharing options...
Dave Pierce Posted January 22, 2004 Author Share Posted January 22, 2004 Thanks for all the help, guys and gals! I'm off to go insurance shopping, I guess... --Dave Make my funk the P-funk. I wants to get funked up. My Funk/Jam originals project: http://www.thefunkery.com/ Link to comment Share on other sites More sharing options...
Valkyrie Sound Posted January 22, 2004 Share Posted January 22, 2004 Let us all know what you find! Valky Valkyrie Sound: http://www.vsoundinc.com Now at TSUTAYA USA: http://www.tsutayausa.com Link to comment Share on other sites More sharing options...
eric Posted February 4, 2004 Share Posted February 4, 2004 So has anyone actually purchased any gear insurance? I'd be curious to know updated rates, any exclusionary clauses, customer service, etc. Dave P, did you get some? Regards, Eric Link to comment Share on other sites More sharing options...
ksoper Posted February 4, 2004 Share Posted February 4, 2004 Originally posted by Byrdman: We were playing last Sunday and the manager suddenly stops the music...and says "everyone out now"... Fortunately nothing bad happened.I played a gig in Delaware, just south of Philadelphia many years ago. The gig was a Fri, Sat, Sun. After the Saturday night gig the manager said to us, "Get your stuff out of here. We're not going to do the Sunday night." We thought we had been fired. Actually the club was fired on Sunday...as in torched. Amazing that the manager would've had the courtesy to give us the heads up like that. k. 9 Moog things, 3 Roland things, 2 Hammond things and a computer with stuff on it Link to comment Share on other sites More sharing options...
rebonn Posted February 5, 2004 Share Posted February 5, 2004 Originally posted by eric: So has anyone actually purchased any gear insurance? I'd be curious to know updated rates, any exclusionary clauses, customer service, etc. Dave P, did you get some? Regards, EricYes, the best rate would be to schedule it on your homeowners if it's in your house and not used professionally. Otherwise a package deal such as Zurich's small buisness policies is the best way to go. Liability is included, lower deductibles, lot's of extra coverages and half the price compared to the usual inland marine policies (property riders) offered by most co's that require you to carry high deductibles with very streamlined coverage and exclusions. www.blairsdevillestudios.com Link to comment Share on other sites More sharing options...
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