josie Posted October 30, 2016 Share Posted October 30, 2016 Hoping for advice on insurance valuations for bass guitars. If you have a new bass, I guess some photographs and the sales receipt would do, or for a vintage Fender that's quoted in those annual books of typical prices, that would be fair evidence. My problem is that GMRs are too rare and little-known, and too seldom come up for sale, for my three to have any obvious reference point. And all three cost me a half to a quarter of what they're "worth" in terms of replacing with comparable build and tone quality, or original price and current condition. Are there specialist valuers? Has anyone else found a good answer to this? Any advice welcome. Quote Link to comment Share on other sites More sharing options...
jazzyvee Posted October 30, 2016 Share Posted October 30, 2016 I always insure at full new replacement value as suggested by my insurance company. I bought most of my basses used and so contacted the manufacturer for the current replacement value if the bass were to be made today and sent a copy to the insurance company and they were happy with that. Quote Link to comment Share on other sites More sharing options...
pete.young Posted October 31, 2016 Share Posted October 31, 2016 Regarding photos, take a picture of you holding the instrument in one hand and a copy of today's newspaper in the other. That proves you owned it on a certain date. Quote Link to comment Share on other sites More sharing options...
BigRedX Posted October 31, 2016 Share Posted October 31, 2016 (edited) [quote name='pete.young' timestamp='1477905430' post='3165082'] Regarding photos, take a picture of you holding the instrument in one hand and a copy of today's newspaper in the other. That proves you owned it on a certain date. [/quote] Which anyone with even a small amount of Photoshop skills will be able to replace with a more recent copy of the paper at a later date... Edited October 31, 2016 by BigRedX Quote Link to comment Share on other sites More sharing options...
stingrayPete1977 Posted October 31, 2016 Share Posted October 31, 2016 Which would be fraud and not the OPs intention or problem. Quote Link to comment Share on other sites More sharing options...
BigRedX Posted October 31, 2016 Share Posted October 31, 2016 [quote name='stingrayPete1977' timestamp='1477907205' post='3165104'] Which would be fraud and not the OPs intention or problem. [/quote] I was just trying to point out that I doubt most insurance companies would attract too much value to a photograph like that because it is so trivial to fake. Quote Link to comment Share on other sites More sharing options...
pete.young Posted October 31, 2016 Share Posted October 31, 2016 [quote name='BigRedX' timestamp='1477910104' post='3165127'] I was just trying to point out that I doubt most insurance companies would attract too much value to a photograph like that because it is so trivial to fake. [/quote] This was advice given to me by New Moon Insurance. I don't share your opinion that minimal Photoshop skills are required. A convincing fake of something with the texture of a newspaper requires a high degree of skill. If you think it's so easy, post a demonstration. Quote Link to comment Share on other sites More sharing options...
BigRedX Posted October 31, 2016 Share Posted October 31, 2016 You don't need to fake the newspaper at all. Just replace that part of the original photo with a new photo of a more recent issue of the newspaper. Quote Link to comment Share on other sites More sharing options...
stingrayPete1977 Posted October 31, 2016 Share Posted October 31, 2016 My wife was a senior claims handler for 12 years, a photo of the item is standard procedure, same for jewellery, something like a picture taken at a wedding of the claimant wearing the item being claimed for would be the norm. At the end of the day there's no need for photo shop, just stick it up the loft and say it's been stolen if your a crook! Quote Link to comment Share on other sites More sharing options...
jazzyvee Posted October 31, 2016 Share Posted October 31, 2016 [size=4][quote name='stingrayPete1977' timestamp='1477927685' post='3165319'][/size] My wife was a senior claims handler for 12 years, a photo of the item is standard procedure, same for jewellery, something like a picture taken at a wedding of the claimant wearing the item being claimed for would be the norm. At the end of the day there's no need for photo shop, just stick it up the loft and say it's been stolen if your a crook! [/quote] A good mate and his girlfriend had their home burgled and some jewellery stolen but they had no pictures or reciepts to confirm what jewellery they owned. Fortunately I was photographer at an awards ceremony they attended the previous year and had some pictures I'd taken with my digital SLR I sent them the pictures and I think that helped them get their claim settled. That said my insurance company have never asked for pictures of my stuff and they only have the serial numbers because I put them in my list of goodies. Anything that proves ownership can't be a bad thing if anything happens. Quote Link to comment Share on other sites More sharing options...
ped Posted October 31, 2016 Share Posted October 31, 2016 With my more unusual basses I asked a well known bass shop to write a letter declaring the replacement value with a picture, serial number, my address etc. I think any bass specialist would be able to help perhaps for a small fee. Quote Link to comment Share on other sites More sharing options...
josie Posted October 31, 2016 Author Share Posted October 31, 2016 Thanks guys! GMR have sadly gone out of business, so it will have to be the specialist shop route. I imagine they'd quote for free what they'd offer to pay me for them, but charge for an insurance valuation, which would be what they would expect to sell them on for. Probably worth paying a bit for the second, just in case it were ever needed. I've posted pics of a couple on Twitter, which I guess would be some sort of evidence. Quote Link to comment Share on other sites More sharing options...
WalMan Posted October 31, 2016 Share Posted October 31, 2016 All of mine are similar in terms of what they cost : replace as new and they're all insured for current list (for the L2500's) and best estimate on recent sales for the Wal that I suppose could be replaced now Paul is building again but to me is virtually irreplaceable. I suppose there is a reasonable trail of sales for the Wal that I could/should be able to rely on as back up along with decent photo's that I have. Had to claim on damage to one of the L2500's recently (see elsewhere) and while the claim form asked for what I paid and the insured value was I had no problems with the company on supplying photos of the damage & a quote to strip & refinish - all approved within a week. Perhaps not the same as replace as new if one were stolen, but it was reassuring all the same Quote Link to comment Share on other sites More sharing options...
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