I have a personal articles policy throught State Farm (I don't get paid - so that's not a problem). Inexpensive and comprehensive - covers loss, theft, damage etc with $0 deductable. While it is true that my homeowner's policy covers them as well, that coverage is subject to my deductable which is $1000. So I pay around $50/year for what I consider to be premium coverage (about $7K worth).

Ken

I may have this wrong, but I don't think a homeowners policy is going to cover damage to your instrument when is it outside the house. What if your instrument is destroyed in a car accident or if someone falls on it at the local jam and crushes it? Or what if you're staying at your mother-in-law's and a tornado hits her house? Even if you drop it at home, is the homeowners policy (with $500 or $1000 deductible) going to cover that kind of damage? These are the concerns that made me get the separate policy.

I went though this just recently. I contacted my State Farm agent and was told my guitars needed a separate policy, separate from my homeowners. The cost was very low, something like $40 for $10,000 worth of guitars. It is said to cover full replacement cost, no deductable, covers just about any claim you could think of.

This same discussion took place on another forum a short time ago. Several horror stories about this type of coverage, you get what you pay for and all. I decided to call Heritage. They cover everything, $25,000 worth of coverage for $250 per year. Heritage covers to the amount you've declared, regardless of the value of the instrument. The big issue, as told to me by Heritage, is when there is a repair as opposed to full replacement. The Heritage guy said 95% of their claims are for repairs. Where the State Farm type insurance gets you is in the repair category. Let's say your drunken neighbor steps on your guitar and puts his foot through the top. You might claim the guitar was ruined and you want a new one. State Farm will say it's only damaged and pay only to get it repaired. Further, Heritage will compensate you for the loss of value, State Farm won't. This means that your $4,000 guitar that now has a new top can be sold for only $1,000. Heritage will the $3,000 difference, State Farm won't.

So, while it sounds good to get a low cost policy that covers replacement cost, most guitar accidents involve damage that is generally less than the total ruin of your precious guitar.

In the end I have Heritage.

Heritage is the way to go. I've used them for years. You can update your instrument schedule frequently and they adjust the premium accordingly. And they are the best with vintage or collectable instruments and the issue of "value."

Interesting points. Does the Heritage policy you all are referring to cover professional use, travel, etc. as well? If so it sounds like a very good deal.

btw - any info on their claim track record? Living on the Gulf Coast, we have become painfully aware of companies which appear to offer good coverage until claim time. Some of them have very recognizable names as well (State Farm is NOT one of those - I would recommend their homeowner's coverage without hesitation).

Ken

Ken, Heritage insurance does cover travel, flood, earthquake and anything else. I was very surprised at the coverage. As for claims experience, I am happy to say that I have not had to place a claim. Isn't that interesting...that does seem to be a great test for an insurance company but I really don't want to be the one to test them. Maybe someone else has had that experience.

Great day to you...

quote:

Originally posted by Alan:
I was just curios if forum members have their guiatars insured and if so is it throught there home owners policy or and outside agency.

Alan,

I also use Heritage. My experience with them has been excellent. They provide MUCH better coverage than with a homowners policy. Highly recomended.

quote:

Originally posted by FreeBlues:
I went though this just recently. I contacted my State Farm agent and was told my guitars needed a separate policy, separate from my homeowners. The cost was very low, something like $40 for $10,000 worth of guitars. It is said to cover full replacement cost, no deductable, covers just about any claim you could think of.

Just a quick follow up on this....
Freeblues and Ken, please check more carefully. I also have State Farm homeowners AND the PAP (Personal Articles Polciy) which I believe you are referring to. A PAP does NOT cover instruments used outside the home by a gigging (that is paid) musician. Please very this with your agent before it's too late.

David

David - you're correct, a PAP does not cover you if you get paid for playing. I understood from my agent that I was covered if I played out as an unpaid amateur. Nevertheless, as I said in the second paragraph of the post you copied from, I heard too many bad things about these policies and went with Heritage.

I had a PAP from State Farm for many years, and was paying an extra premium for a policy that covered professional use. A couple of years ago the office changed ownership, and when an item was added they suddenly wouldn't include it as they said it was being used to make money. That ended my years long relationship with the company, and I have switched to Heritage. I am very happy with them.

Seth

quote:

Originally posted by dberch:

quote:

Originally posted by elambo:
State Farm has me covered without needing a specific rider.

I'd check on that Elambo if you get paid to play.

That's an interesting question. I never play live, but I do use my guitar primarily for session work. So technically I'm getting paid to play - whether or not that falls under State Farm's guidelines is another question. Worth a phone call.

Elambo & DBerch (and others):
Any updates on the State Farm question? I have not chimed in but reading. I also have the Personal Articles policy with SFarm that covers all our musical instruments (guitars, piano, etc.).

If they do not cover you if you're using the particular instrument for work, the session work is out of scope much like gigs are. Not to be picky but here is my question:

Is the instrument not covered ONLY if it is in transit (to and from) the gig/session? I play gigs, some are paid and some are not. How can you or they diffrentiate one from another? If it is an umbrella effect where if you do paid gigs none will be covered by the P.A. policy, then that's a different story. The problem is that I have numerous instruments but not all of them are used for gigs. Will this require different types of policies so they'll be covered either way (in case one day you decide to bring one you normally don't gig with). It's very confusing. I also should call my (insurance)agent but I thought I'd ask you guys first.

I don't know if I made sense but what do you guys think of what I just mumbled across on this post? Thanks.

Ace
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