Insurance for an irreplaceable instrument

[bassist_lewis]

The luthier of my bass very sadly died last month making said instrument now completely irreplaceable - I had hoped to have a second one built as a spare in the future. It is currently insured for £2100, the price it would have cost to buy a new one but with that now being impossible do I increase the amount it's insured for or just leave it?
Thanks

[chris_b]

If you want another just keep an eye on the Talkbass classifieds.

Callowhill's occasionally come up.

[M@23]

What would you up its value to?!

[Happy Jack]

Leave it.

You're insured to replace a £2000 bass. In the event of a disaster, you'd have £2000 available to replace it.

[Blink]

Most insurance companies will only pay out the market value regardless of the value you place on the instrument. If you over value your premiums will go up but the pay out will not. You may be able to get an upfront agreed value with the insurance company but that will require an independent third party issuing a valuation certificate in the absence of any other form of valuation evidence.

[Burns-bass]

Yeah, unless its an agreed valuation policy the amount you insure it for is just a guide.

That reminds me I need to phone up my company in a little while and add a couple of new basses and guitars I'd forgotten to add!