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hammer
Advanced Member
Username: hammer

Post Number: 365
Registered: 9-2009
Posted on Tuesday, June 11, 2013 - 11:57 am:   Edit Post

Now that I have 4 Alembics in the family as well as a couple of vintage Gibsons, I've finally decided that the net value of my gear requires something beyond my general homeowners insurance. I know this was covered a while ago, but I was wondering if those with experience with various companies are still recommending Heritage. I recently got a quote from them and it was approximately $1.00 for every $1,000 of instrument one had on hand.
stout71
Intermediate Member
Username: stout71

Post Number: 147
Registered: 7-2011
Posted on Tuesday, June 11, 2013 - 1:39 pm:   Edit Post

I just got a policy with Heritage (underwritten by The Hartford) and it cost me $250 per year for about 25K of coverage at replacement value so your figure is in line with mine. I've heard nothing but good things about them.
s_wood
Advanced Member
Username: s_wood

Post Number: 368
Registered: 5-2002
Posted on Tuesday, June 11, 2013 - 3:56 pm:   Edit Post

I also insure my Alembics (and other gear) with Heritage. They are really fantastic. Their policies cover all kinds of loss or accidental damage, pretty much without exception. Sadly, I know from experience how they handle claims...which is very well, quickly and fairly.

Check out this thread: http://alembic.com/club/messages/393/130335.html?1336851919
lbpesq
Senior Member
Username: lbpesq

Post Number: 5469
Registered: 7-2004
Posted on Tuesday, June 11, 2013 - 4:25 pm:   Edit Post

I also use Heritage. As folks around here may remember, I recently had a flood in my basement studio which damaged one of my guitars. Heritage paid off extremely quickly and without any hassle once I emailed them a pic of the damaged instrument. They even paid extra for the damaged case (which I wasn't expecting)!

Bill, tgo
edwin
Senior Member
Username: edwin

Post Number: 1564
Registered: 5-2002
Posted on Tuesday, June 11, 2013 - 7:55 pm:   Edit Post

I've been with Heritage now for well over 10 years. While I haven't had any claims, I do feel very secure. I will also say that my premiums seem to be less than the above quote, so I think being a long time customer with very little risk (despite a pretty decent gigging schedule) will help in the long run. Colleen is always very helpful.
hammer
Advanced Member
Username: hammer

Post Number: 366
Registered: 9-2009
Posted on Tuesday, June 11, 2013 - 8:45 pm:   Edit Post

Thanks everyone. The word of all of you is good enough for me. Heritage it is.
cje
Intermediate Member
Username: cje

Post Number: 131
Registered: 5-2009
Posted on Wednesday, June 12, 2013 - 11:41 am:   Edit Post

One of the first things I did when Diamond-Eyed Jack arrived was call Heritage!
malthumb
Senior Member
Username: malthumb

Post Number: 541
Registered: 5-2002
Posted on Thursday, June 13, 2013 - 3:24 am:   Edit Post

Another vote for Heritage. Think of it this way....with so many of us on Heritage, they are probably very familiar with the valuation of Alembic basses being a bit different from your typical Fender.
s_wood
Advanced Member
Username: s_wood

Post Number: 369
Registered: 5-2002
Posted on Thursday, June 13, 2013 - 1:00 pm:   Edit Post

Plus, Heritage lets the policy holder set the value of the insured instruments (within reason) Their philosophy is that since they charge base upon the insured value if you over-insure your stuff you are overpaying, and that's your problem. :-)
sonicus
Senior Member
Username: sonicus

Post Number: 2951
Registered: 5-2009
Posted on Thursday, June 13, 2013 - 1:33 pm:   Edit Post

OK, All the good personal experiences here regarding Heritage have convinced me now as well . I spoke with Robert per phone and sent him my information . Thanks , you all helped me decide.
stout71
Intermediate Member
Username: stout71

Post Number: 148
Registered: 7-2011
Posted on Thursday, June 13, 2013 - 1:45 pm:   Edit Post

And if there was any doubt, always insure for replacement value rather than their other options, "agreed value" or "actual cash value." I insured everything at full retail as I'm sure everyone else here does. In the event of a loss, I'll likely get a replacement cheaper through a dealer, but insuring at retail covers things like manufacturer price increases, etc. I had to do some homework to make sure everything on my 1997 "pre-mass production" Warwick was covered. Everything on it that used to be standard fare is now custom shop stuff.

I'm curious, for any of you who have had a loss covered by Heritage, did they just write you a check up front or did they reimburse later?
lbpesq
Senior Member
Username: lbpesq

Post Number: 5472
Registered: 7-2004
Posted on Thursday, June 13, 2013 - 2:16 pm:   Edit Post

When I made my claim earlier this year, they sent me a check within 10 days as I recall.

Bill, tgo
cje
Intermediate Member
Username: cje

Post Number: 132
Registered: 5-2009
Posted on Saturday, June 15, 2013 - 3:34 pm:   Edit Post

And every few years, you might want to call Mica to get an updated replacement value, which you should then use to update your policy.

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