Mando Insurance - PART 2

[LKN2MYIS]

A recent post brought this subject up.

I currently only have a home owner's rider, which is pathetic.
I need coverage for outside the home as well.

I knew of Clarion, who gave me an estimate of $250 for the first $20,000 of instrument value. Coverage for everything: theft, accidents, etc.

The other thread mentioned a company called Heritage. Based on that, I sent Heritage an eMail and left 2 voice messages for quotes. That was over 2 weeks ago and I haven't heard anything from them.

Aside from Clarion, can anyone recommend a good instrument insurance company? (Obviously, forget Heritage - if they aren't interested in making a new customer, I shudder to think of how they pay claims).

I'd go with Clarion, no problem, just want to know if there are any other comparable choices.

Any help appreciated.

[gnelson651]

I am not sure what you mean by a "homeowners rider?"

However, you can schedule your musicial instruments (or jewelry, or guns, or whatever) on your homeowners policy. Scheduled items are usually based on a current appraisal, which you should get on what you want to insure as a scheduled item. A scheduled item is one that is individually listed for coverage at a specific limit and deductible for each item listed. Usually scheduled items are insured for "All Peril" meaning that there is coverage for just about anything except those perils excluded in the policy. So will will want to know what exclusions would apply no matter what type of policy you get. You should be able to elect whether you want as a deductible on each scheduled item.

However, the less deductible you take, the more your premium will be. Since you are shopping around, call your homeowners agent and ask about scheduling your instruments and what it would cost. It might be more economical then buying a separate policy.

[LKN2MYIS]

The homeowner's rider (an addition to a homeowner's policy used to cover items not covered by the main policy)I have is the best one my company carries. It covers theft from the home, and some minor exceptions for damages.

This is why I am looking for another company in order to provide better coverage, not only in home but on the road as well.

[kudzugypsy]

yeap, most of your stuff will get stolen at a gig or hotel room or vehicle. that stuff is fine for guns and antiques that never leave the home, but hopefully, we take them out once and a while to play!

[Greg H.]

I have a policy through Travelers that costs me around $100 a year for $10,000 of coverage. It's literally a musician's policy, so it doesn't matter whether the mandolin is stolen from my home or a drunk falls on it in a bar it's still covered. I suspect the difference in price between this and the Clarion is mostly due to the difference in coverage as my mandolin appraisal is less than $10,000 and they're offering coverage for twice that amount.