Music equipment/Band Insurance???

ZarK

Hi Guys and Gurls

Some of our band members and I have been calling around for quotes to insure our gear without much success... Most of the gear will stay at our studio and some of the gear will travel to our homes and of course to gigs. We’ve found that most companies don't even want to insure band equipment. At this stage we are looking at each individual getting his own all risk insurance for his gear instead of the band as a whole.

Any suggestions and recommendations would be greatly appreciated!!

joel

ZarK wrote: Hi Guys and Gurls

Some of our band members and I have been calling around for quotes to insure our gear without much success... Most of the gear will stay at our studio and some of the gear will travel to our homes and of course to gigs. We’ve found that most companies don't even want to insure band equipment. At this stage we are looking at each individual getting his own all risk insurance for his gear instead of the band as a whole.
Any suggestions and recommendations would be greatly appreciated!!

.....That is the best and fairest option for all concerned.......(imo). , not everyones 'stuff' is worth the same , also , some of your premiums per item may be cheaper than others , due to risk profiles of the various residential areas the guys live in..

Mutual and Fed do cover musical instruments in their all risks section , it is worth it and it is really reasonable and of course worthwhile.

ZarK

Thanks for the input.

We're more concerned about getting the best insurance at the best rates than who insures what to be honest. If a member loses his gear it will affect the whole band, not only the individual. We don't mind sharing certain expenses, the same way we would in turn share income. We've struggled to find insurance companies willing to insure our gear as a whole. That’s the main reason we're considering individual all risk insurance.

Anyone know of- or use insurance companies that they can recommend apart from M&F?

joel

joel wrote:

.....That is the best and fairest option for all concerned.......(imo). , not everyones 'stuff' is worth the same , also , some of your premiums per item may be cheaper than others , due to risk profiles of the various residential areas the guys live in..

Mutual and Fed do cover musical instruments in their all risks section , it is worth it and it is really reasonable and of course worthwhile.

BTW ,for peeps who haven't got their 'stuff' insured..... I live in a so-called high risk area in JHB , Checked my policy , these are some of the monthly premiums of stuff covered in my all risks section:

Boss CE3 chorus pedal covered for R900 , premium/month = R3.63
MI Audio Blue Boy Deluxe covered for R1500 , premium / month = R6.04
Tokai guitar LS-95 F covered for R12000 , premium / month = R46.76
Vox Head and cab covered for R10000 ( now deleted), premium / month = R39.86

so ja ,....... really worthwhile insuring your 'stuff' 8)

DonovanB

I've insured my gear with Outsurance. Their service has been amazing since I've been with them.
My whole rig comes to just over R100. That includes, my Strat, The Carparelli S4, the Vox amp, the Gt8, my nylon string acoustic and a further R3k worth of sundries.

I've had no security issues but IME with the car they are very quick on claims. That's for another time though... stupid municipal drivers... grumble

chris77

Ja, i've heard outsurance take a lot of flack, but both times I have claimed their service was excellent. No hassles at all. What is bollocks though is that me and the missus drive the same cars (not intentional btw. Both purchased before we started dating), and live in the same house. Her cover is nearly 350 bucks cheaper than mine though. Now I understand men are more of a risk than woman to insure, but why? Yes, most accidents involve men, but that's largely due to men taking the wheel more often when woman and men drive together I reckon. So maybe ask one of your wives/girlfriends to phone for quotes as well. You never, might just knock a couple of rand of the premium...

IceCreamMan

Zark , we decided to insure as individuals , it became prohibitive as a band...

i agree iwth a previous poster , different equipment costs differently and ppl come an go , are you sure you want to subsidize or be subsidized ...

ZarK

I've received a few quotes for the band as a whole and shall still look into personal all risk as well. My gear is worth as much as the other 4 members' gear combined at this stage, so I would prefer getting my own insurance and maybe the rest of the guys can get combined insurance if it works out to be more cost effective this way. We'll have to see...

Thanks for all the input! Much appreciated as always!