Insuring Music Equipment

[Connor]

So im going to college in about two weeks. As of right now 'm studying music, and i plan on taking some of my equipment with me. (the expensive stuff). My dad started talking about getting it insured the other day, and i thought it was a really good idea because i probably have around 10K worth of equipment thats involved in playing or recording music, and its all too easy for me to imagine some dude walking into my dorm room and seeing a Collings or a moog delay sitting there and snatching it.
So i think it would be a good idea to get it insured. I did a little research and found that a lot of companies cover a ton of stuff: theft, loss, nearly any kind of damage, and so forth.
Do any of you have your stuff insured? anyone know what company i should look into?

[hclapp219]

So im going to college in about two weeks. As of right now 'm studying music, and i plan on taking some of my equipment with me. (the expensive stuff). My dad started talking about getting it insured the other day, and i thought it was a really good idea because i probably have around 10K worth of equipment thats involved in playing or recording music, and its all too easy for me to imagine some dude walking into my dorm room and seeing a Collings or a moog delay sitting there and snatching it.
So i think it would be a good idea to get it insured. I did a little research and found that a lot of companies cover a ton of stuff: theft, loss, nearly any kind of damage, and so forth.
Do any of you have your stuff insured? anyone know what company i should look into?

My brother had his cello and bow (~30k combined) insured through my parent's homeowner's insurance; he now has it insured through his renter's insurance. This worked even though he had his cello at school with him. Might be easier and/or cheaper to add to an existing policy. Read the wording of all the stuff very carefully; it can cover theft but not mysterious disappearance, so make sure you get it all explained before you sign the dotted line.

p.s. super jealous that you have a collings... acoustic or electric?

[Connor]

My brother had his cello and bow (~30k combined) insured through my parent's homeowner's insurance; he now has it insured through his renter's insurance. This worked even though he had his cello at school with him. Might be easier and/or cheaper to add to an existing policy. Read the wording of all the stuff very carefully; it can cover theft but not mysterious disappearance, so make sure you get it all explained before you sign the dotted line.

p.s. super jealous that you have a collings... acoustic or electric?

Yeah thats what my dad said, but he said that they would probably have around a 1,000 dollar deductible. that wouldnt be that big of a deal for a 30k cello, getting back 29K is great. but if someone jacks my Collings, which retails for 3.5K, i would get back 2.5. which is a lot bigger of a gap, if were talking percentages. But then again it seems way more legit to get it through my parents homeowners than some sketch online thing. Im not sure, i would need to be able to directly compare.
anyone know a good way to go if i was not going to go through my homeowners insurance?
ps. Its an acoustic, an OM2H custom, auditorium style body with a dreadnought depth. Its perfectly balanced, perfect action and intonation, the best guitar for fingerpicking i've ever played. except for my teachers 30+ year old Collings, that had better sound, which i assume mine will get in another 25 years. also, its really really loud. possibly the loudest acoustic i've ever come across. i would definitely recommend them.

[tuffteef]

i study music aswel

to keep safe i usually use cheap guitars and what not for most classes then when needed i pull out the big guns
like a played an epiphone casino most of the semester but pulled out the rickenbacker, maybe an option

[one bad monkey]

I have my instruments insured (each of my basses are a tad on the expensive side) and everything else associated with them; amps, pedals, cords, music stands, etc.. I have a $50 deductible on each piece of equipment, and pay around $100 annually.

THAT SAID, if you are making money with your instruments, most homeowners policies (or renters insurance) WILL NOT COVER YOU. At that point, they are considered professional equipment and are in a completely different bracket altogether. What I have is called a professional equipment policy, or something to that effect. It basically covers everything on the instruments wherever they are, if I leave an amp at a theatre for a couple of weeks due to a run, etc..

If I were you, I'd go this route over adding onto a homeowners policy. There are a lot of things that an instrument rider will not cover that a separate policy will. The price difference is negligible between the two, especially for the extra coverage (and the fact that if you were making money at a theatre and the amp got stolen, my homeowners policy wouldn't cover me).

[Eric!]

I'm gonna need to look into this

[one bad monkey]

Eric, State Farm has the best rates in our area for standalone professional article insurance. I checked a couple of the other big companies, and even talked to the musician union rep too about options.

[Eric!]

Eric, State Farm has the best rates in our area for standalone professional article insurance. I checked a couple of the other big companies, and even talked to the musician union rep too about options.

Sweet! Thanks

I wish I was gigging more. Or even at all...

[Connor]

anyone else?

[Derelict78]

Yeah All my equipment and books are insured. I shopped around alot and I too use state farm.

[ifeellikeatourist]

+1 for State Farm. I've got my renter's insurance through them (and car insurance) and I pay $120 for $20,000 of insurance. I don't know what my deductible is though, but I recommend meeting with an agent (regardless of what company you choose) and making sure you get what's right for you.