Gear Insurance in 2022

Pickups, pedals, amps, cabs, combos

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Nick
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Gear Insurance in 2022

Post by Nick »

I’ve been investing in some studio gear lately which has me thinking, but this has been on my mind for some time in general. I’m at that point where if anything awful happened I’m not sure how I would begin to replace everything. I remember when we first got homeowners insurance they (or I just read it online don’t really remember) tried to say musical instruments wouldn’t be covered since they’re taken out on gigs etc. which is true for like 2 of my keyboards, maybe 2-3 guitars and 1-2 of my amps. The bulk of my gear is in stuff that never leaves the house, Wurlitzer, drum kit, rack gear, PA, microphones and certain guitars/amps, I’d be willing to not gig with the Mustang and pro reverb if it meant peace of mind.

Does anyone here insure their gear - who do you go with, how do they itemize/value it, how much does it cost and did you need to have items appraised by a 3rd party? Lastly what happens when you add to or trade/sell something, do you call your agent or make changes on an online account - or are you able to just have a fixed dollar amount insured for everything as a whole that you can’t go over?
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NickD
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Re: Gear Insurance in 2022

Post by NickD »

Some of this may be U.K. specific, but my policy covers me as follows.

Anything under £1500 is insured under the general policy, anything over that value has to be itemised. I can take musical instruments out of the house and they are still covered, but I can’t use them for financial gain under the policy (paid gigs essentially, or studio work) which makes sense as they would be a work tool at that point. I haven’t needed to get them appraised by any company I’ve used in the past couple of decades.

This is on a general homeowners insurance policy.
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dots
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Re: Gear Insurance in 2022

Post by dots »

Used to have gear insurance and probably still should, but from what I recall, there was a fixed dollar amount. Keep receipts, serials, and photos.
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Nick
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Re: Gear Insurance in 2022

Post by Nick »

dots wrote: Thu Aug 11, 2022 7:00 pm Used to have gear insurance and probably still should, but from what I recall, there was a fixed dollar amount. Keep receipts, serials, and photos.
Did they go by receipts for the value or was it proof of ownership?

I should be able to have receipts for the ebay/reverb purchases and stuff I've bought in local shops, but a lot of my gear also came from craigslist and marketplace, estate sales, etc. I suppose I should photograph and catalog all my serials and gear in my home anyway at some point.

I also have a tendency to trade/sell stuff from time to time, not sure how that factors in.
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Re: Gear Insurance in 2022

Post by sunshiner »

Nobody wants to get yelled at by an insurance agent for trading a DS1 for a nano Muff.
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Re: Gear Insurance in 2022

Post by plopswagon »

Angelo comes around every month or so to collect his “insurance” payment.
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dots
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Re: Gear Insurance in 2022

Post by dots »

Nick wrote: Fri Aug 12, 2022 3:37 pm
dots wrote: Thu Aug 11, 2022 7:00 pm Used to have gear insurance and probably still should, but from what I recall, there was a fixed dollar amount. Keep receipts, serials, and photos.
Did they go by receipts for the value or was it proof of ownership?

I should be able to have receipts for the ebay/reverb purchases and stuff I've bought in local shops, but a lot of my gear also came from craigslist and marketplace, estate sales, etc. I suppose I should photograph and catalog all my serials and gear in my home anyway at some point.

I also have a tendency to trade/sell stuff from time to time, not sure how that factors in.

back then, they went by what i told them. i held onto the evidence i had for backup in case shit went down. and of course, i let the insurance go when money got tight, and proceeded to get robbed a few years later. the funny thing is the renter's insurance policy i got in the wake of that did cover the gear (or at least they said it did at the time), but my home owner's policy is iffy at best.
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Re: Gear Insurance in 2022

Post by Gabriel »

I use music pro insurance, they have a flat rate deductible. I asked around what friends were using and music pro seemed to have the best customer service from experiences I heard. I haven't had to make a claim yet and hopefully I won't have to, but their sign up was easy and it's a pretty affordable policy.