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 Post subject: Guitar and equipment insurance - is it worth it?
PostPosted: Thu Aug 27, 2009 12:18 pm 
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Joined: Mon Mar 02, 2009 7:45 pm
Posts: 581
Location: Hampshire, UK
Although I love my guitars and gear, none of it is worth thousands and I've never thought it worth insuring, other than being covered by the house contents insurance.

But with both my guitar collection and theh number of gigs I play growing, I thought I'd better look into it.

My first port of call was here: https://www.jltonline.co.uk/secure/quot ... &promCode=

Quote:
Musicguard insurance is suitable for:
Home or studio based musicians
Gigging musicians that take some of their gear to gigs
Gigging musicians that take all of their gear to gigs

Musicguard provides:
Cover against theft, loss and accidental damage up to £250,000

Replacement on a new for old basis (vintage and rare items are covered by valuation - laptops are subject to depreciation)

Hire cover until items are replaced or repaired (subject to an approved claim)

No excess as standard (a voluntary excess will reduce your premium)

Public liability up to £5m – essential for gigging musicians

Personal accident cover

Choice of area covered: from UK only, UK and EU with 30 days worldwide, or full worldwide
Musicguard also have optional breakdown cover – to cover you in case your gear stops working and optional 'in vehicle' cover to protect you whilst on the road.

We include £1 million of public liability cover as standard but you can upgrade to £2 or £5 million.


As an example, I put in total value of £3,000 (that's around $4,900 USD).
In-vehicle cover incuded - UK only

The premium came up as £7.72/month including 25% "outside insured location" or £8.52 with 50% "outside insured location"

I fugure that, for me, even 25% should cover a couple of guitars and an amp for gigs or band practices away from home... although 50% is probably better.

Any thoughts? Any suggestions for other insurers? Any experience of claims from musical equipment insurers??

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97 Fender Strat Plus; 81 Aria Pro II CS-350; 70s Gherson Les Paul; 09 Hofner Verythin; 02 Takamine EG540SC ;03 Johnson Travel; 60s Minorca Classical; Indian Sitar; 70s Ovation Deacon; 76 Shergold Meteor Deluxe; Godin Multiac Nylon SA


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 Post subject: Re: Guitar and equipment insurance - is it worth it?
PostPosted: Sat Aug 29, 2009 8:10 am 
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Joined: Wed Mar 11, 2009 12:22 pm
Posts: 17
Is there an excess??? If each guitar is only worth a few hundred pounds or dollars and you get one guitar stolen, then after you've deducted the excess it's not worth it. But if you had the whole lot stolen or trashed at once,then it would be worth it!

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http://guitar-insurance.com


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 Post subject: Re: Guitar and equipment insurance - is it worth it?
PostPosted: Sun Nov 01, 2009 2:58 am 
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Joined: Sun Nov 01, 2009 2:41 am
Posts: 13
Location: Seattle, WA, USA
Hello all and howdy from Seattle, USA.

I wanted to add my opinion on this topic, because this year we had a house fire and luckily, I had most of gear covered with an policy extension for my gear.
As part of my home owners policy, I added an extension covering most of guitars and recording gear. I hadn't been very good at keeping it updated, as I've bought & sold some gear since we aquired the policy when we bought the house. A couple of the more important stipulations of the policy extension are based on the following (which may differ depending where you live):

1. You can't be a professional musician, which is defined as making ANY income playing music. The reason this would be an issue is that if you are an active gigging musician, technically you should be operating as a "business", and that "business" should be paying for insurance to cover equipment used to operate the business.

2. If you collect gear as a business, the same rule mentioned in #1 applies.

Luckily, I collect as a hobby and everything I lost was compensated by the insurance policy.

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SG


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 Post subject: Re: Guitar and equipment insurance - is it worth it?
PostPosted: Tue Nov 03, 2009 1:21 pm 
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Joined: Mon Mar 02, 2009 7:45 pm
Posts: 581
Location: Hampshire, UK
Hi Sean, sorry to hear about your house fire... but glad your insurance paid out!!

I was interested in your statement <<You can't be a professional musician, which is defined as making ANY income playing music.>>. My band gets paid (modest amounts), but we don't take any direct payment except for occasional expenses, all our earnings go into a band fund which pays for equipment etc. Do you think this could cause problems with any insurance claim?

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97 Fender Strat Plus; 81 Aria Pro II CS-350; 70s Gherson Les Paul; 09 Hofner Verythin; 02 Takamine EG540SC ;03 Johnson Travel; 60s Minorca Classical; Indian Sitar; 70s Ovation Deacon; 76 Shergold Meteor Deluxe; Godin Multiac Nylon SA


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 Post subject: Re: Guitar and equipment insurance - is it worth it?
PostPosted: Wed Jun 12, 2013 4:27 am 
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Joined: Wed Jun 12, 2013 4:25 am
Posts: 1
I love my guitars and gear Every time I buy a new guitar, I think Hire cover until items are replaced or repaired or what I should look for in a guitar insurance policy?

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I was bit hesitant at first to use and trust the Pass4sure C4120-782 but it did not break my trust. more information visit apc and also on amazon,


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