Renter's insurance info?

jdogric12 · Post by **jdogric12** » Mon Oct 01, 2007 8:19 am

If anyone has a policy to cover their Ricks, with items specifically listed, please let me know. I'm going nowhere fast with my current company. I think I may need an inland/marine policy but I can't find anyone to write one. Thanks - J

firstbassman · Post by **firstbassman** » Mon Oct 01, 2007 8:42 am

J, not sure exactly what you're asking.
You know this topic has been covered before.
Is your insurance company saying they don’t offer a “rider” for personal property?
If not, IMHO change companies immediately.
A rider (some companies call it by different names) is mandatory for all of your valuable personal property that possibly may get damaged. Otherwise, all you are covered for is fire and theft.

jdogric12 · Post by **jdogric12** » Mon Oct 01, 2007 9:33 am

Even I'm not sure what I'm asking. I'm getting a LOT of double talk and run around from the local companies. I tried to find the old thread but couldn't.

lyle_from_minneapolis · Mon Oct 01, 2007 9:48 am

Let me help with the translation. What they generally say is: We cannot help you, and your rates are about to increase.

vito · Post by **vito** » Mon Oct 01, 2007 10:27 am

I used to have renter's insurance through Traveler's online and my policy had a separate rider for musical instruments. I had no problems at all with them, but on the other hand, I never had to file a claim with them, either.

jdogric12 · Post by **jdogric12** » Mon Oct 01, 2007 10:31 am

Thanks everyone. I just found something that will work for me.

jdogric12 · Post by **jdogric12** » Mon Oct 01, 2007 10:32 am

Mark Mark & Mike. Sounds like a super group!

dswp · Post by **dswp** » Mon Oct 01, 2007 10:32 am

Nevermind....

rickenbrother · Post by **rickenbrother** » Mon Oct 01, 2007 5:59 pm

Jdog, care to share the info?

wmthor · Post by **wmthor** » Mon Oct 01, 2007 8:23 pm

JDog, I had my renters insurance with Hartford. After getting my third Ric in May, 2000, I requested and received a seperate rider for my guitars.

After buying my house in 01, I included all of my gear (keyboard, amps, etc) on the rider. I also have a rider for for the household electronics which includes the computers, printers, software, TVs, stereo equipment, etc.

jdogric12 · Post by **jdogric12** » Tue Oct 02, 2007 3:49 am

I found a policy that does not require a per item maximum such as $2,000, like some other companies I found. Plus it will cover stuff out of the house as long as it's not business use. So if I get the odd gig here and there where I need guitar, I'll probably take an Epi!!! Someone else is looking into another option, though, for me, so that may pan out.

firstbassman · Post by **firstbassman** » Tue Oct 02, 2007 5:08 am

J,

Exactly.
The 'rider' will cover your instrument anywhere no matter what happens as long as not for business use. (I never did ask what coverage business use would require.)

Just like Michael and Richard describe.

But also like Michael said, I've never had to file a claim either. That will be the tricky part especially because coverage is for "replacement value" only. How does one determine what replacement cost is for an instrument that is not made anymore? Or an instrument that has been modified or autographed? I've never gotten a 100% clear answer on that one.

I was going to make another point but it just left my brain. Sorry.

There were threads about this in the Appraisal section and also in the General or Guitar section a couple of times when members were discussing eBay, shipping companies and damaged deliveries. Those threads might have gone over to the Archives by now.

jdogric12 · Post by **jdogric12** » Tue Oct 02, 2007 5:48 am

All true Mark. I don't think such a clear answer exists. For example, whilst making all these phone calls the last few weeks, I've been positing the scenario where say, the 4002 is stolen. They very rarely pop up on ebay, maybe one a year? And RIC doesn't make a comparable bass these days. But of course an adjuster would probably say it's comparable to a 4003. There is no regard given to "collector" value, and I hate to say, understandably so.

firstbassman · Post by **firstbassman** » Tue Oct 02, 2007 6:55 am

Yup, that's right.
And! I remembered the other thing I was going to say and it also relates to what you just mentioned Jason.

But first: it did seem that if I got a professional appraiser to place a dollar-figure value on an instrument (for a fee of course) the insurance company would probably accept that amount. After all, no one is ever going to paint another van Gogh. Yet I'm sure Starry Night (and the others) have a value placed on them in case they get lost, stolen or damaged. *

The other point I was going to make is that there is no notion, as far as coverage goes, in the insurance industry for the concept of "sentimental value." If the only photograph of my grandfather gets lost - too bad. There can be no monetary value put on that photograph. Same thing if it's your very first RIC guitar or bass. The value is in the "thing" itself only. Not on what the thing might mean to you.

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* Short of getting an official paid appraisal, USAA said they would accept published vintage and collectors books as an estimate as well as public market prices such as on eBay.

wmthor · Post by **wmthor** » Thu Nov 01, 2007 9:17 am

The current issue of Acoustic Guitar has a nice article about insuring your gear.

http://www.acousticguitar.com/article/d ... leid=21673

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Renter's insurance info?

Renter's insurance info?

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