Guitar Insurance

[tomvwash]

Do many of you have an instrument insurance policy or recommend a policy and / or company?

FL home insurance is already tenuous but I probably need to check in with them on household possessions value.

[Danny W.]

Do many of you have an instrument insurance policy or recommend a policy and / or company?

FL home insurance is already tenuous but I probably need to check in with them on household possessions value.

Heritage Insurance | Musical Instruments & Equipment | Free Quote

[jazzshrink]

Heritage is great. Be advised that they don't cover loss/damage due to "nuclear perils" or "war and insurrection".

[benhatchins]

Will be checking Heritage, thanks

[Marty Grass]

Heritage is great. Be advised that they don't cover loss/damage due to "nuclear perils" or "war and insurrection".

Aren't they fussy!!

[Eugle]

Has anyone checked Geico? I heard they offer a variety of additional insurance, but I can't find the info exactly about musical instruments. I've found the geico customer service number and I'm going to call them and ask about agreed-value options, appraisal requirements, theft/fire coverage, etc. But of course, it would be great to learn from the experience of others.

[sgosnell]

I've had Valuable Personal Property insurance with USAA for many years. I have some guitars and some of my wife's jewelry on it. It's an add-on to my homeowner's insurance and not expensive. I've never had to use it, so I can't say how easily claims on it are processed, but I suspect it as easy as any other USAA insurance, and I have all my insurance there, have had for ~55 years.

[FredH]

Heritage was recommended to me several years ago. I've been very satisfied. Thankfully, I've never had to file a claim.

[alltunes]

Heritage….end of story

[Peter C]

Apart from throwing it an occasional piece of raw meat, I wonder if Wes insured his L-5

[deacon Mark]

I have had Heritage for at least 30 years I would guess.

[starjasmine]

Unless instruments, jewelry or other valuables are specifically excluded, your HO policy should cover them.
IDK whether that covers theft at a gig, tho. That might be comparable to say, getting relieved of your expensive necklace while walking back to your car from the restaurant. But if you got $100 for the gig, that might be considered "professional use" and therefore be excluded.
You might start with a read of your policy and a call to your agent.
Those who have Heritage, how do they price coverage? Some number of pennies on the dollar for the replacement value of the instrument? What is an example premium on an archtop worth $10K?

[nevershouldhavesoldit]

Unless instruments, jewelry or other valuables are specifically excluded, your HO policy should cover them.

Almost all homeowners' and renters' policies have a blanket maximum for "unscheduled" (ie not listed individually) valuables, and it applies to an event rather than an item. So if you're burglarized or have a fire, all valuable items like guitars, jewelry, etc are lumped together and the limit is applied in aggregate. The highest limit I've seen is $5k.

Unless you have an unusual policy or carrier, you have to list each item separately. Riders are issued at extra cost over your general policy if you want them all covered for a specified value. Before relying on your homeowners' policy, read it carefully or check with your agent. You also have to keep the schedule of agreed values updated. Otherwise, values will be depreciated and you'll be undercovered if replacement cost goes up over time.

Some carriers offer "replacement" value coverage that will pay the cost of buying an exact replacement new. The hook in that one is that a direct replacement is rarely available for many of our guitars. So "agreed value" is the preferred option, as I see it. Most insurers will go to the mat to avoid or minimize paid claims.

[paulkogut]

Most folks realize that a homeowner policy won't cover an instrument on a gig , but it's my understanding that they might not cover it at all if it's ever used on a gig. A tip-jar gig at a coffeehouse could get your guitar classified as 'professional tools" and not covered , even if stolen/damaged from your house.

I have a Heritage policy, but have been fortunate enough to never need to file a claim, so I can't comment on that experience

PK

[Spook410]

To have mine covered under home owners, State Farm wanted a written estimate of their value from a credible source in writing. What they would accept as credible seemed pretty arbitrary. That, and all the places I found to do this charge absolutely ridiculous fees.

[Stringswinger]

To have mine covered under home owners, State Farm wanted a written estimate of their value from a credible source in writing. What they would accept as credible seemed pretty arbitrary. That, and all the places I found to do this charge absolutely ridiculous fees.

If you have a loss, you will probably have to pay for appraisals at that point to get State Farm to cover the loss. And State Farm will not cover for a loss outside the home.

My gear collection is approaching the 100K valuation mark. It is money well spent, IMO, for me to pay Heritage about $600 a year to keep the collection fully insured.

[RLetson]

Reinforcing Marc's post: The homeowner policies I'm aware of specifically exclude instruments used professionally. I'm not a real pro, but for a couple decades I did take (laughable) compensation for playing, which would be enough to tip even my coffee-house gigs into technically-pro territory. And flying with a good instrument, even to an amateur event like a workshop, might make for problems, so I finally decided to get a Heritage policy that would cover all my listed instruments from a range of hazards. It meant providing a list with estimated values, which took some figuring/documenting (and one official appraisal from a builder), but for $350 or so the only hazards I now face are the emotional ones that come from losing or damaging a favorite guitar. (And a real flight case is the first line of defense there.)

[omphalopsychos]

I would absolutely not trust State Farm, AAA, Geico, or other major insurance providers that also offer home or auto. They are so stressed for capital that they will do everything in their power to minimize paying you for any claims. Get Heritage.

[deacon Mark]

I live in the town of the home office of State Farm. I have house and car insurance with State Farm and have for 40 years. However, never would I allow them to insure my guitars they would be worthless and PIA. Believe me I know it is all around me. They are quite picky about many things and if you drive well and have no issues cheap auto insurance but if you live in Floriday they won't take you house to insure. They are not stupid at business.

[Mick-7]

Apart from throwing it an occasional piece of raw meat, I wonder if Wes insured his L-5

I believe he insured his guitar against the threat of food-borne illnesses, which is recommended in the case of raw meat. I think he could have saved a lot of money by giving it cooked meat instead, but I suppose that would not have given him the raw sound he sought.

[nevershouldhavesoldit]

I believe he insured his guitar against the threat of food-borne illnesses, which is recommended in the case of raw meat. I think he could have saved a lot of money by giving it cooked meat instead, but I suppose that would not have given him the raw sound he sought.

It’s a very serious problem that’s taken too many fine musicians early in life. We lost the great Sal Monella to a fatal bout of Nat King colitis when he was in his early twenties.

[tomvwash]

To have mine covered under home owners, State Farm wanted a written estimate of their value from a credible source in writing. What they would accept as credible seemed pretty arbitrary. That, and all the places I found to do this charge absolutely ridiculous fees.

I had the same experience with State Farm and thanks to the advice here Heritage policy is in process.

[Ukena]

I had a claim settled with Heritage. Quick and easy, and they paid me what my cost was, including for devaluation due to the repair.

When I add or subtract an instrument from my coverage, it is done by email (for adding, I just send the invoice) and the change is immediate, as soon as the email is received.