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Alembic Club » Alembic Basses & Guitars » Archive: 2003 » Archive through September 23, 2003 » Insurance « Previous Next »

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rogertvr
Member
Username: rogertvr

Post Number: 99
Registered: 1-2003
Posted on Friday, August 22, 2003 - 4:44 am:   Edit Post

What does everyone do regarding insurance for these beautiful and expensive instruments? I've been looking into this subject as the Dragon's Wing progresses - about the best I can manage at the moment is to add it to my house insurance (in return for a not inconsiderable sum of money added to the policy).

Hints, suggestions, tips etc gratefully accepted.

Cheers,

Rog
davehouck
Intermediate Member
Username: davehouck

Post Number: 119
Registered: 5-2002
Posted on Friday, August 22, 2003 - 6:05 am:   Edit Post

I just recently had my insurance agent write a commercial replacement value policy on the gear I take to gigs and rehearsals. Your homeowners will not cover your rig if you are getting paid to play. I found the premium, and the deductible, to be very reasonable. The agent had not written a similar policy before and it took a while for me to communicate with him what I wanted, and for him to then communicate the same with the underwriter. I wanted replacement cost coverage rather than "actual cash value" which gets depreciated by the insurance company. I valued everything using Ebay completed transactions (plus shipping). Now I do not own a custom one of a kind Series II. If a drunk falls on the stage and knocks my Essence over breaking the neck, I used the value at which I can find another used Essence.

Also, you will want to read this previous thread on insurance:
http://alembic.com/club/messages/394/4384.html
palembic
Senior Member
Username: palembic

Post Number: 556
Registered: 9-2002
Posted on Friday, August 22, 2003 - 7:30 am:   Edit Post

Hi Roger,

for my insurance (guitar + rig etc) I have (had - I think I couldn't manage to pay the dues) a "All Risk Insurance": so all situations are covered even damage that occurs in my house, my children breaking it, transport in a car etc ... . Here in Belgium it's an insurance you can get if you are a "good customer" and they'll accept the risks. It's rather expensive: about 350€ for a year (well ...it's NOT seen the value you're insuring but it IS for me now).
The value insured is the "replacement" value for a NEW instrument/rig. So to replace it by items that comes closest by possible. In principle I have to give the value of the set-up and instrument every year.

Just my 2 cents

Paul the bad one
malthumb
Member
Username: malthumb

Post Number: 95
Registered: 5-2002
Posted on Saturday, August 23, 2003 - 10:47 pm:   Edit Post

Roger,

You might find your answer in this thread.....

http://alembic.com/club/messages/394/4384.html?1051212270

Hope it helps.

Peace,

James
rogertvr
Member
Username: rogertvr

Post Number: 100
Registered: 1-2003
Posted on Sunday, August 24, 2003 - 7:34 am:   Edit Post

I'd like to thank everyone for their help and suggestions. It's made me think about what I require from a policy for the Dragon's Wing.

Cheers,

Rog

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