Equipment Insurance

Skip Ellis · #1 03-11-2022, 10:16 AM

I recently rec'd a new Brook guitar and started totaling up the $$$ I have invested in my equipment - both instruments and PA, etc. and, although I don't really play out professionally anymore, I'm thinking that I might get some sort of insurance coverage on my stuff if I should gig once in a while or some miscreant breaks into my house and makes off with one or all of my guitars.

So, those of you who have experience along these lines, please school me on the best route to go. Is a residential rider enough or should I go with one of the companies that specialize in instrument coverage? Do any of these companies cover losses from shipping if I sell something or need to send something out for repair? Policy costs?

Crosswind · #2 03-11-2022, 10:19 AM

Both Clarion and Heritage are good companies to look into. It would be prudent to get them on top of your residential insurance.

Methos1979 · #3 03-11-2022, 10:22 AM

We just added a rider to our home insurance which covers all music equipment in the home and out and about. It was very inexpensive.

rule18 · #4 03-11-2022, 10:27 AM

We've been happy with Clarion for 15 years for all the guitars, cellos and PA equipment. That coverage is for gigs and such. We also have two riders to our homeowners policy, one for all the instruments et al while at home and the second for students and their parents coming to the studio for lessons.

brad4d8 · #5 03-11-2022, 10:33 AM

Quote:

Originally Posted by Methos1979

We just added a rider to our home insurance which covers all music equipment in the home and out and about. It was very inexpensive.

Check your policy. Many homeowner riders with "out and about" coverage don't include paying (and some non-paying) gigs.

jaymarsch · #6 03-11-2022, 10:38 AM

I have had musical instrument insurance through Heritage for years now and I have been very happy with it. I have had two claim situations and they were both handled efficiently and to my satisfaction. One was a guitar damaged in shipping and one was an airline mishap. I pay $200 annually for $25K in coverage that includes replacement costs. Since I have 4 luthier made guitars, that is an important consideration for me.
You may want to get a policy quote from Heritage, Clarion and your homeowner’s insurance provider and compare the costs and coverages. That should help you make the best decision for your particular needs.
Best,
Jayne

Rev Roy · #7 03-11-2022, 11:05 AM

Another happy Heritage client here. Have all my guitars and amps covered for a very reasonable annual fee.

Boozehound · #8 03-11-2022, 11:08 AM

I would encourage a specialty insurer. I use Heritage. They cover about $50K worth of instruments for $350 annually. You get replacement value coverage and also coverage for damage and devaluation. If you have to file a claim, it doesn't count as a claim on your homeowners insurance, so your HOI rates won't jump.

KevinH · #9 03-11-2022, 04:52 PM

Quote:

Originally Posted by Boozehound

I would encourage a specialty insurer. I use Heritage. They cover about $50K worth of instruments for $350 annually. You get replacement value coverage and also coverage for damage and devaluation...

Another Heritage customer here. I don't have $50K of guitars, so my policy is $250 annually for $35K of coverage. One nice thing about Heritage is they cover diminished value in case a guitar is damaged - in/out of the house, being shipped, whatever.