How do i insure my gear? (not house insurance, that won't cover stuff out the HOUSE)

[51m0n]

[quote name='BottomEndian' post='756197' date='Feb 24 2010, 04:00 PM']This might sound like a stupid question... hell, I'm pretty sure it is. Anyway, how do you go about figuring out how much to insure your instruments for? Especially when they're modded and thus pretty much unique. Do you take the RRP (or street price?) of the instrument and then add on the cost of the mods and how much it'd be (if anything) to have them fitted/routed/painted/whatever? Or would insurance only pay out to the value of the original, unmodded bass? Out of my 5 basses, only 1 is stock (the SUB), so this is a pretty important factor to me.[/quote]

I took the opinion that I'd insure for the sum of the parts, since to replace something modded I'd have to get all the parts and at least do the work myself (never asked anyone else to work on my gear so I wouldnt add any cost for that).

Also I want to be able, where possible, to go and get a new version of the instrument/device in question with the insurance money, so I always insure to new value - which has meant insuring for more than I paid for in several cases, since replacing the items in question would now be far more expensive than the initial purchase...

It soon adds up!

[BottomEndian]

[quote name='51m0n' post='756228' date='Feb 24 2010, 04:32 PM']Also I want to be able, [b]where possible[/b], to go and get a new version of the instrument/device in question with the insurance money, so I always insure to new value[/quote]
Indeed, where possible. Trouble is, my SR5's a 1993 model, so the pickup and preamp are different from what MM produce now. The SUB's discontinued. The OLP's discontinued. Hondo have gone.

Not to mention the mods. The SR5's got a polyester-coated ebony fingerboard rather than the MM pau ferro one. The OLP's got a brass nut, a Nordstrand pup and East preamp. The Fender's been routed for a Jazz pup at the bridge, and both pups are Nordstrands. The Hondo's got an EMG pickup in it (admittedly probably worth more than the bass ).

It's kind of problematic trying to figure out values for it all. I guess I'll just sit down with a search engine and a spreadsheet.

[Mrs Tinman]

Useful info re: Endsleigh, we've used Musicguard for years but I will try and remember to check these guys out when our policy is up for renewal

[Bloodaxe]

Had a quote from the Co-Op last year (October-ish) - £21K Contents + £2500 Instrument for a tad over £140.

I asked the rep if the intruments were covered out of the house & he said they were, so I upped the ante & asked if it'd still be covered at a gig in a pub if someone chucked a pint over the amp.

He had to go & ask, but came back with another Yes!

I've banked with the Co-Op for yonks, so I've no idea if I got a preferential rate.

Pete.

[WalMan]

[quote name='owen' post='627742' date='Oct 16 2009, 11:14 AM']If you join the Musicians Union they have free cover up to £2000.[/quote]

[quote name='Mateybass' post='631020' date='Oct 20 2009, 12:13 AM']... and don't forget the with the MU you also get free public liability cover in case anyone sues you for damaging their hearing or dropping a bass cab on their foot [/quote]

Just renewed my MU top up with Hencilla for around £90 on about £8k valuation. Might have to look at others, but I need to check how the Hencilla tie in with the MU £2k works and what to do if I go elsewhere - presumably just put a £2k excess on.

As for valuation it depends what it is.
[list]
[*]MarkBass combo - I just upped the value based on new shop price as they have jumped recently.
[*]L2500 - is on for what I paid for it and just keep a look out for the sort of price they might go for here
[*]Wal - would be almost impossible to replace so I keep an eye on the prices they are going for on fleBay and add a bit. Probably overvalued, but...
[*]pedals & assorted covers & cases I just go with list
[/list]

It's possibly worth setting up automated searches of eBay for each bit of kit and watch the end prices of rarer/more difficult items to source in the UK (like the Wal & L2500 for me) throughout the year and use that as a guide.