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Old 07-28-2015, 06:03 AM
wvblues wvblues is offline
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Default New House - Homeowners Insurance

I suppose this can apply for those who rent and buy insurance also, but do you guys keep your receipts or have your guitars appraised (in the case of vintage instruments) to include under your homeowners or rental insurance policy?

I'm a first time home buyer and I'm not entirely sure on how the process works to include instruments of value under your policy.

Thanks.
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Old 07-28-2015, 06:08 AM
HHP HHP is offline
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Check with your carrier but it is likely not necessary. If you file a claim, an adjuster will rely more on current comparable value. Make sure you describe listed items accurately. If you have a 1934 Martin D-18, don't just list it as a Martin D-18.
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Old 07-28-2015, 06:16 AM
teletaylor teletaylor is offline
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I take pictures of my gear, store it in Dropbox, and keep a list of what I paid(receipts) as well as serial numbers. I try to keep it current and redo it every few months.
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Old 07-28-2015, 06:30 AM
djg djg is offline
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WVblues -- I suppose that almost anything might vary from policy-to-policy or firm-to-firm, within the bounds of the laws of your state.

I'm not an expert on these things, but my first advice would be to read your policy and talk to your agent.

My second piece of advice would be that documentation can be helpful whether it is required or not. Why not have a file with receipts for major purchases? And given the ease of taking and storing a digital image, why not have a few pictures?

I've never had a guitar stolen, but in filing a claim for a stolen bicycle -- a very expensive bike that was stolen away from my house -- it was helpful but not necessary to have receipts to document my claim. I also submitted a photo of the stolen bike. I'd sum up my own experience, FWIW, as follows: the insurer never fought me on any aspect of my claim -- they really didn't -- but there was a certain amount of back-and-forth about the process and establishing, with them, what was what. That was partly to do with the fact that the claims processor didn't have experience with bikes that had been built up from a frame plus separately purchased components -- there's not really a great analogue to this problem with acoustic guitars, but you can imagine all sorts of confusion about the particulars of replacement cost (if that's what you have coverage for), depending on the guitars, and the ability to document what was lost can be helpful in moving things along. In the end, the insurer covered the replacement of the stolen bike -- I ended up with something bike that was much more expensive than the total price that I had paid initially (and the insurer knew this -- the particular model frame that had been stolen was no longer available, the builder stipulated the closest substitute, various things had gone up in price, etc.).
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Old 07-28-2015, 06:35 AM
cattzap cattzap is offline
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I had a truck stolen and had added a lot of aftermarket accessories. Pictures and receipts sent to my insurance company more than paid off in this situation. I would say that if it's dear to you, than document and store in a safe place, and maybe more than one place, all the information you can. One little bit that you may think is not necessary may be the difference when your in a different situation.
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