Q? on insuring your guitars and equipment........

[Ozz666]

I just got back from my ins. agent to discuss the accident I was involved in on Sat. see post
and I remembered to ask them about insuring guitars and amps etc. She told me to get a list down with descriptions, serials, and value...and pics wouldn't hurt to keep in the file. I'm going to start making a list, but I'm unsure on how to value certain instruments. I mean some are limited editions...like the Alum. Roswell or the Polka Dot RR...
Are they looking for replacement cost? Are they asking what I think they're worth currently? Some of these instruments just increase in value...

Thanks,
- Joel

[surfdork]

Re: Q? on insuring your guitars and equipment........

Joel, the premiums will depend on a few things. It will cost a little more to insure them for full replacement cost, as opposed to "what it's worth now". Also, if you are a gigging musician, it will be a different (and more expensive) number. This will require a different policy, due to you using the instruments as a way to make $$.

Ask as many questions as you can. And having detailed pics for your records are a must! Yeah, it always sucks to pay premiums...and you may never have to file a claim. But if you ever do, it's worth it.

An ounce of prevention.... [img]/images/graemlins/cool.gif[/img]

[guitar geek]

Re: Q? on insuring your guitars and equipment........

I once thought of insuring my guitars as well, but when I saw the quotes, I rapidly abandoned the idea. those suckers did not have any clue what they had to do and what the value of the guitar was and they wanted to depreciate it over something like 5 years to value ZERO, so I decided to not insure them

Harrald