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Thread: Instrument Insurance Help

  1. #1
    Pittsburgh Bill
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    Default Instrument Insurance Help

    I am trying to obtain insurance for my instruments and wondering if anyone has suggestions for a less complicated process.
    I was told I need an INLAND MARINE POLICY. Quoted a price of $64.00 per year which I found reasonable.
    Now the complicated part. The STATE FARM underwriters want me to provide written appraisals on all instruments valued over $1,000.00 This happens to be all of my instruments with exception to my campfire mandolins. I have already provided make, models, serial numbers, years of build, condition, extras, etc.
    Has this been the experience of others? If not, would you provide me with insurance companies easier to work and specialize in instrument insurance or other options?
    Keith Edward Coleman A style, oval hole Mandola
    Stiver A style (eagerly awaiting spring 2020 arrival)
    Weber Gallatin A Mandola "D hole"
    Kentucky KM-950
    Harley Benton A style (Spare canoe paddle)
    Rogue 100A (current campfire tool)

  2. #2

    Default Re: Instrument Insurance Help

    I have only had to provide written appraisals on one instrument, my daughter's cello. It needed a special rider as its value was $20,000. My AAA homeowner's covers all instruments under $5000, provided they are not used professionally. If I were gigging a lot, I'd get specialized coverage for those instruments.

    Both daughters gig with big dollar instruments so insure with the companies that service the pro musician. Valuations are needed there, but a sales receipt suffices.
    Silverangel A
    Arches F style kit
    1913 Gibson A-1

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  4. #3
    Registered User EvanElk's Avatar
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    Default Re: Instrument Insurance Help

    These guys (Heritage Musicians Insurance) are good. https://musicins.com/

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  6. #4

    Default Re: Instrument Insurance Help

    Herstige the best !!!

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  8. #5

    Default Re: Instrument Insurance Help

    Talk to Colleen at Heritage!
    The best !

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  10. #6
    Pittsburgh Bill
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    Default Re: Instrument Insurance Help

    Quote Originally Posted by EvanElk View Post
    These guys (Heritage Musicians Insurance) are good. https://musicins.com/
    I just made contact with Heritage. Sounds like great coverage but also sounds like they insure much higher value instruments than mine. Their minimum is $200.00 per year. $50 dollars a year more than my renters insurance for 40K.
    Keith Edward Coleman A style, oval hole Mandola
    Stiver A style (eagerly awaiting spring 2020 arrival)
    Weber Gallatin A Mandola "D hole"
    Kentucky KM-950
    Harley Benton A style (Spare canoe paddle)
    Rogue 100A (current campfire tool)

  11. #7
    plectrist
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    Default Re: Instrument Insurance Help

    Quote Originally Posted by Pittsburgh Bill View Post
    I just made contact with Heritage. Sounds like great coverage but also sounds like they insure much higher value instruments than mine. Their minimum is $200.00 per year. $50 dollars a year more than my renters insurance for 40K.
    Heritage is much less hassle setting up a policy and i've been told by others ... MUCH ... less hassle if you should need to make a claim. Great people to deal with.

    Ryk
    mandolin ~ guitar ~ banjo

    "I'm convinced that playing well is not so much a technique as it is a decision. It's a commitment to do the work, strive for concentration, get strategic about advancing by steps, and push patiently forward toward the goal." Dan Crary

  12. #8
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    Default Re: Instrument Insurance Help

    I use Clarion. http://clarionins.com/

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  14. #9
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    Default Re: Instrument Insurance Help

    another praise, high praise, for Heritage. They keep it simply and provide excellent coverage. They cover your instrument no matter where you go, in a car, on a plane, if you ship it somewhere-no hassle. Be sure to know what you policy covers and how much it covers based on the instruments whereabouts when damaged/stolen/etc. I shipped a guitar once that was damaged in transit, it was an exceptional claim, and Heritage treated me very fair.

    Had them now for a couple years.

    d

  15. #10
    Registered User Perry's Avatar
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    Default Re: Instrument Insurance Help

    I use Heritage and like the company and process. I may be wrong but I believe many homeowner's rider policies will not cover you if instrument is stolen at a gig.

    Also I belive Heritage also covers damage during shipping of instrument which is a big plus for thoseof that like to buy and sell. No need to buy the overpriced UPS insurance.

    Heritage customers please correct me if I am wrong.

  16. #11
    Registered User EvanElk's Avatar
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    Default Re: Instrument Insurance Help

    yes they do. If you do a little horse trading it pays for itself in the shipping insurance savings

  17. #12
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    Default Re: Instrument Insurance Help

    The inland marine police under my homeowners insurance, when I had it, covered my instruments cheaply. The only thing not covered was stolen from an unlocked vehicle. If it was locked it was covered.
    THE WORLD IS A BETTER PLACE JUST FOR YOUR SMILE!

  18. #13
    Pittsburgh Bill
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    Default Re: Instrument Insurance Help

    Quote Originally Posted by pops1 View Post
    The inland marine police under my homeowners insurance, when I had it, covered my instruments cheaply. The only thing not covered was stolen from an unlocked vehicle. If it was locked it was covered.
    My research has found this to be true for my insurance company as well and at a much more reasonable cost than Heritage or Clarion. I cannot attest to how effectively claims would be settled by my carrier and damage would not be covered. BUT, $64.00 per year vs. $200.00+ per year. This is a strong consideration considering I do not own high end mandolins. Downside is finding someone qualified to prepare certified appraisals as my carrier requires.
    I contacted three retailers in my area to be told by two of them that they are not familiar enough to perform these appraisals. One retailer told me they are able to provide me with three instrument appraisals, but not one of them. But, a huge inconvenience and they were unable to provide me with an estmated cost until they have done the appraisals. This leads me to believe it may be a costly experience.
    Perhaps someone has had experiece with on-line appraisals they can comment on.
    Thank you for all the suggestions I have received thus far.
    Keith Edward Coleman A style, oval hole Mandola
    Stiver A style (eagerly awaiting spring 2020 arrival)
    Weber Gallatin A Mandola "D hole"
    Kentucky KM-950
    Harley Benton A style (Spare canoe paddle)
    Rogue 100A (current campfire tool)

  19. #14

    Default Re: Instrument Insurance Help

    Hm. I think my homeowner's policy covers 'em. Now that you bring it up, I'm going to check.

  20. #15
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    Default Re: Instrument Insurance Help

    I use Heritage. I've had them for at least 10 years- maybe 15. My experiences with them have been great. I've not had a claim but have heard only good things about their handling of such. The coverage isn't cheap, or is it? If I ship a couple of fairly expensive instruments a year, the insurance is paid for by not having to buy the shipper's coverage. Heritage concentrates, it would seem, on people who have good instruments and who don't want to ever have a claim. As far as the homeowner's policies go, even with the inland marine riders, I'd be real careful. I had that with my homeowner's policy and right before I went to Heritage I was told by the secretary at my agent's office that my instruments weren't covered and really had never been because I play out in public. It didn't matter if I was getting paid or not. It didn't matter if the damage or thievery was done at a job, at my home, in the car. The very fact that I played out (and the company knew this from the beginning) voided any coverage, period. When I asked why they hadn't told me this before, when they knew from the start that I played out in public, they said "you never asked". Needless to say, all business with them was off at that point. It is one of my missions to warn others whenever this topic comes up.

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  22. #16
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    Default Re: Instrument Insurance Help

    Quote Originally Posted by Dale Ludewig View Post
    I use Heritage. I've had them for at least 10 years- maybe 15. My experiences with them have been great. I've not had a claim but have heard only good things about their handling of such. The coverage isn't cheap, or is it? If I ship a couple of fairly expensive instruments a year, the insurance is paid for by not having to buy the shipper's coverage. Heritage concentrates, it would seem, on people who have good instruments and who don't want to ever have a claim. As far as the homeowner's policies go, even with the inland marine riders, I'd be real careful. I had that with my homeowner's policy and right before I went to Heritage I was told by the secretary at my agent's office that my instruments weren't covered and really had never been because I play out in public. It didn't matter if I was getting paid or not. It didn't matter if the damage or thievery was done at a job, at my home, in the car. The very fact that I played out (and the company knew this from the beginning) voided any coverage, period. When I asked why they hadn't told me this before, when they knew from the start that I played out in public, they said "you never asked". Needless to say, all business with them was off at that point. It is one of my missions to warn others whenever this topic comes up.
    That is interesting Dale, I bought mine because I played out and had the entire PA, mics and instruments covered. That was a long time ago and it may have changed, everything else has.
    THE WORLD IS A BETTER PLACE JUST FOR YOUR SMILE!

  23. #17
    two t's and one hyphen fatt-dad's Avatar
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    Default Re: Instrument Insurance Help

    I have a personal article floater (PAF) on my homeowner's policy. If you own a house, you can likely get a floater. Now you get to decide if that's the coverage you want.

    f-d
    ˇpapá gordo ain’t no madre flaca!

    '20 A3, '30 L-1, '97 914, 2012 Cohen A5, 2012 Muth A5, '14 OM28A

  24. #18
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    Default Re: Instrument Insurance Help

    yep, I forgot about mentioning Heritage covers insurance during shipping-so, I don't have to purchase extra coverage from say USPS or worry about damage done by FedEx and then struggling thru a battle. I will typically ship 2-4 instruments per year, that alone pays for about 3/4 of my Heritage policy.

    when I dug into my Statefarm homeowners, it only covered $500 and that was in the event of a fire. Did not cover while any instrument was in a vehicle. There was a rider I could purchase, but coverage only went up to $1000, and was well over what the heritage policy costs-and still only covered in house fire. Did not cover for theft or any other damage, or outside of the house.

    d

  25. #19
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    Default Re: Instrument Insurance Help

    Another vote for Heritage....just had my first claim and it couldn't have been easier. I have not had to provide any appraisals for my coverage.

  26. #20
    two t's and one hyphen fatt-dad's Avatar
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    Default Re: Instrument Insurance Help

    My PAF covers shipping too.

    f-d
    ˇpapá gordo ain’t no madre flaca!

    '20 A3, '30 L-1, '97 914, 2012 Cohen A5, 2012 Muth A5, '14 OM28A

  27. #21
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    Default Re: Instrument Insurance Help

    You are much more likely to have a claim due to a stolen or damaged instrument then a fire, flood, or burglary to your home. If you keep your instruments under your homeowners policy, and you have to file a claim, your policy premiums could be raised, or your policy dropped altogether. Either way, it’s a claim against the “big” policy. That could end up being quite pricey.
    IMO that is the main reason for maintaining a separate policy for instruments. Another thumbs up for Heritage.

  28. #22

    Default Re: Instrument Insurance Help

    Quote Originally Posted by pops1 View Post
    The only thing not covered was stolen from an unlocked vehicle. If it was locked it was covered.
    That reminds me of when I totaled my 66 Mustang on an icy overpass bridge..........to add insult to injury, the officer said, "how fast were you going?" Just 55, sir!

  29. #23
    Innocent Bystander JeffD's Avatar
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    Default Re: Instrument Insurance Help

    Quote Originally Posted by pops1 View Post
    The inland marine police under my homeowners insurance, when I had it, covered my instruments cheaply. The only thing not covered was stolen from an unlocked vehicle. If it was locked it was covered.
    Are you covered if you make money playing music? Some homeowners insurance policies exclude "tools" which includes musical instruments for the use of which you have been compensated, even a little bit, even gas money, even playing music for a free meal that others had to pay for.
    Indulge responsibly!

    The entire staff
    funny....

  30. #24
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    Default Re: Instrument Insurance Help

    Yes Jeff then I was. It was a long time ago, but the inland marine policy off my house insurance covered anything but an unlocked vehicle. I don't have it now, still playing, but not as much as then.
    THE WORLD IS A BETTER PLACE JUST FOR YOUR SMILE!

  31. #25
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    Default Re: Instrument Insurance Help

    Thread bump......
    Am shopping around for instrument insurance. I know Heritage is the premium company but their minimum annual cost is 200. I have submitted a request for quote to Anderson Instrument Insurance. Does anyone have experience with them?
    Thanks, Tony

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