Insurance

[Beer of the Bass]

I don't have any insurance on my double bass at the moment, and I need to get that sorted out, as I couldn't afford to replace it or have major repairs carried out if needed. I had a policy with Allianz a few years ago with a different bass but I let that lapse.
Which companies would BCers recommend? Should I get a written valuation of the bass done before I apply? The previous owner of the bass had it insured for £2750, but I suspect that its market value may not be as high as that.

[fatgoogle]

For anything less you generally don't need a valuation. I was told that when i was trying to get insurance then told i wasn't able to get insurance due to living in ROI. let me know how you get on still looking for music instrument specific insurance.

[Rabbie]

I'm sure you already know but just in case...Musicians Union membership comes with free £2,000 instrument insurance. That may well just cover you.

[oggiesnr]

I use Newmoon as I have a lot of random instruments and the value mounts up quite rapidly. [url="http://www.newmooninsurance.com/"]http://www.newmooninsurance.com/[/url]

Steve

[Beer of the Bass]

I'll get quotes from Allianz and Endsleigh, who I was already aware of, and try Newmoon too. I'll have a look at the MU also.
I'm not absolutely certain what value to insure the bass for - it's a late 19th century German flat-backed bass with no makers name. It's all solid woods with plain maple back and sides, a grafted maple neck and the original hatpeg tuners. It's been extensively repaired over the years and has a terrible varnish job, but it's solid and stable and all of the repairs have been done competently. I have about £1000 in it (including what I spent getting a new fingerboard, bridge and soundpost done), though the last owner had it insured for £2750. Is it a common practice to insure for a somewhat optimistic amount like that?

Edited March 28, 2014 by Beer of the Bass

[geoffbassist]

I would insure it for £2750 and both [color=#282828][font=helvetica, arial, sans-serif]Allianz and Endsleigh have been good to deal with for me in the past. I think I claimed once from Endsliegh and they were pretty good. [/font][/color]

[oggiesnr]

The important thing with insurance values is not what you paid for it, not what you could hang around and a get a good deal on ebay but how much would it cost if you went out today to buy an equivalent. I have a bandoneon that cost me £500 on ebay, if I had to replace it through a dealer in a time frame it would cost £1200 so that's its insurance value. Ditto a melodeon, to replace it would probably cost £2,600 (I paid £1,800 for an immaculate second hand one) but it's insured at £2,600. My double bass would be £550 new, however I also have £150 of set up. £140 new strings, £100 reprofiled neck, £150 new bow, £100 carrying case. So that is £1,200 to replace as is so that's the insurance value.

Steve

[Rabbie]

Ok, you guys have successfully given me the heebie-jeebies... for many years I have travelled everywhere with just the MU insurance at best, but tonight I gave in and just insured my basses!

[Beer of the Bass]

Here are some pictures of the bass in question, it has that big, detailed old-bass sound but it's really not pretty. In some ways I'm quite glad it's so rough looking as I would never have been able to afford a similar bass in better cosmetic condition. The case, pickup and strings would add several hundred to the replacement value, admittedly.
[url="http://s1076.photobucket.com/user/MJBeer/slideshow/Double%20bass"]http://s1076.photobucket.com/user/MJBeer/slideshow/Double%20bass[/url]

Edited March 29, 2014 by Beer of the Bass

[oggiesnr]

I assume it's solid wood? If you had to go out and replace it how much do you think it would cost? Then add on the strings, pick up, bag, set up.

The important thing here is that you are not waiting round for a deal here or on ebay, you are going into a dealer (when I had to replace a couple of instruments following a break in the insurance company agreed an amount but I had to specify a shop and they paid the shop directly) so how much are they going to ask? As a rough guide, what would you ask for it on here and then add at least 50%.

Steve

[Jazzjames]

Allianz are good and pay out if something happens. Just give them the approximate value and they will quote you.

Endsleigh refused to pay out when someone bashed into me and my bass on the street. They said as it was 'in transit' it needed to be in a hard case. Ha! So don't go with them, they're expensive and won't help you anyhow.

Edited March 30, 2014 by Jazzjames

[Beer of the Bass]

I have gone ahead and insured it with Allianz for £2750. It only comes to a bit over six quid a month, which seems worth it.