Insurance on guitars

IceCreamMan

Hi

Now that my little collection is expanding i decided to get insurance quotes for them.... damn its expensive to insure , so much so i have decided to carry the risk myself.

Anyone else found this or am i a high risk? (although i have a claim free record)

Cheers

DonovanB

are you transporting them around to gigs etc?

Mine is relatively cheap, just over R100 some change. although I need to update that so it will go up. ugh...

JK

My US strat is R200 a month. The odd thing my RunX is R360 a month and is worth 10 times the amount, plus it is surrounded by taxis everyday.

IceCreamMan

JK wrote: My US strat is R200 a month. The odd thing my RunX is R360 a month and is worth 10 times the amount, plus it is surrounded by taxis everyday.

Thats my beef so to speak ...i am getitng similar results ... are guitars high risk?

IceCreamMan

DonovanB wrote: are you transporting them around to gigs etc?

Mine is relatively cheap, just over R100 some change. although I need to update that so it will go up. ugh...

They do get transported ,practice sessions and the like...no gigs as yet

DonovanB

It should never be that pricey.

My car insurance is way more than the guitars. depending on the replacement value it gets very expensive. For a R5000 item I pay in the region of R20. I don't have or use anything that will cost too much to replace and I leave the valuables at home.

Corne

My insurance broker worked something out for me.
I've got some comprehensive insure on my guitars.
Not sure on the price though, did it about two years ago.

the comprehensive insurance gives you the peace of mind that, no matter what happens, they're covered.
If they are in my car and the car gets stolen......Covered.
If some Jagermeister chick gets on stage and knocks one over and the headstock breaks (Les Paul owners).....Covered.
If Table Mountian goes up in smoke and my guitar is on it.... Yip you've guessed it.... its Covered.

DonovanB

I would double check that table mountain thing. sometimes brokers leave stuff out that is highly unlikely to happen, then when it does suddenly you arent covered.

Riaan

Can't the guitars be specified and included amongst one's general household contents, like hi-fi's, TV's, etc.? Particularly if they never leave the house?

Rudolf

Since the last time this topic was up for discussion I've learned quite a bit about insurance. It's never pretty, get used to it now and your life will be slightly more colourfull in general. If you're doing it through Outsurance or any of their evil sidekicks (Dialdiarect, blah blah) lemme know and I'll have a little giggle out of pitty for you over tonight's whiskey on the rocks.

To get your car, motorbike, house and even full size aeroplane covered while in use is the somewhat less gloomy side of insurance. For everything else, sit down while you're talking to the consultant or broker. I've finally had some success with my RC Models as far as insurance goes, it wasn't a pretty affair either. I finally found a broker that knows his stuff and how to deal with specified items. So instead of paying R80 per helicopter I own (Which are all specified, they cost a little more each than the average guitar) each month he now hooked my hobby goods up as exactly that, so their covered against theft and accident damage outside the house while not in use for take a guess...R180 a month covering R80k's worth of hobby goods at one time. So I've cut my specified items bill in exactly 1/4. And to top it all off now all my model toys, tools and whatever is assosiated is covered in the car and outside.

Point is find someone that knows what their doing, the big boys (Well so we're lead to believe) don't have a friggen clue. Ignore the telly, rather find a personal broker in the area with a good reputation, odds are pretty good you'll sleep much better that night. Oh and as a final tip, check with the dude what the difference would be to have the guitar covered while in use and not. Normally IMHO getting something covered against the usual risks of fire, theft and accident damage is really all that's needed.

aubs1

JK wrote: My US strat is R200 a month. The odd thing my RunX is R360 a month and is worth 10 times the amount, plus it is surrounded by taxis everyday.

You're Strat does'nt have a Tracker, gear-lock, Immobilizer, etc..........hahahahaha.....

Seriously though, the Insurance on guitars is insane............ ?

JK

You're Strat does'nt have a Tracker, gear-lock, Immobilizer, etc..........hahahahaha.....

True ?

BMU

I only have one guitar specified (or 'out-and-about' as Outsurance calls it) for R9800, that's costing me R30 per month which seems reasonable to me. (The Prestige RG1527 in my sig.)

My other guitars don't leave the house so they fall under household contents. When two got stolen out of the house last year, Outsurance replaced them at current retail value with no quibbling. They weren't too cheap either, Ibanez UV was around R20,000, LTD SC607B was R13,000 (couldn't get that one so substituted a Schecter but that's a different story).

Corne

DonovanB wrote: I would double check that table mountain thing. sometimes brokers leave stuff out that is highly unlikely to happen, then when it does suddenly you arent covered.

Yeah......insurance companies are sharks.
Like Rudolf said, get some broker that knows what he's doing.