Does anyone insure?

[basstech]

I insured my rig/guitar a year ago and now (after properly reading the terms and conditions) I realize that the insurers will only pay out if:

1. The moon is made of cheese
2. I can produce a picture of the gunman on the grassy knoll
3. I know Lord Lucan's email address
4. I can find an honest politician
5. The locks on my car have been tested and certified by Fort Knox
6. You claim on a Tuesday and its not raining

Are there any reasonable insurance companies who insure kit at gigs/in transport (and who have actually paid out) etc?

thanks
JB

[flyfisher]

My gear is all insured by my home policy, which is where it spends most of its time.

When it's out gigging, I'm always with it so I consider the risk of loss or damage to be fairly low compared to its value and the cost of premiums. Effectively I self-insure and it has worked out pretty well over the last 20 years or so.

[TG Flatline]

I insure but I can understand why some people don't. On Musicguard your gear isn't insured in transit unless it's flightcased. That's one reason that puts some of my mates off, but also something that you might not see unless you really go over the policy details (which, let's face it, you should if you are buying the insurance). My view on it is that if I never have to claim on the insurance then it's only cost me a bit of money, but I take anywhere between £2k-£3k's worth of gear to a gig and if it gets nicked and I'm not insured, what would I do? Apart from pimp out my wife to replace the gear...

[Blademan_98]

I don't insure, but then again, my kits all cheap junk

[fretmeister]

Yup.

Insured in full with Allianz.

I'm a lawyer and I have a lot of dealings with them in litigation and for that reason I'm more than happy to buy their product.

[lollington]

My kit is insured through my home insurance. It has to be specified as individual items though, cab, amp, bass etc because musical instruments are not covered otherwise.

Includes accidental damage for a meagre £3 a month on top of the contents in my flat. Seems a lot cheaper than musician's insurance, but won't cover you if you play professionally.

[Musicman20]

I'm with the AA Home Insurance and a certain value of gear is covered (as s my iPhone, girfriend's cameras, etc) when we take things out of the home.

I've checked and this covers my basses, amps, etc as well.

[Killerfridge]

Yup, I'm insured on my home insurance (Direct Line I think!) and as long as it is with me (be it in the car or otherwise) it is insured.

[brensabre79]

I do, with musicguard.co.uk - they seem OK.

Also if you're in the PRS there are some good discounts from some companies, check out their website.

Also, often overlooked with household policies is cover for public liability - if some drunken idiot trips over your lead or falls onto the stage and impails themselves on your mic stand or whatever you're covered for that too...

[xgsjx]

I'm insured through my home insurance too. Covered out & about as long as it's with me & I'm not using it for professional purposes, it's covered.
`If it's left in the car, then it needs to be locked in the boot & out of sight.

[warwickhunt]

Those folks with 'home insurance' - several of you have identified that you aren't covered 'professionally'... have you identified what that actually means?

I had a revealing discussion with a friend who works in insurance and I was highlighting the fact that most folks that I knew had their gear covered under house insurance, he asked about gigging (which tbh many of us do). I elaborated saying for most it is a hobby and of those that gig, house insurance cover is probably more than sufficient. It appears not! If you gig (especially if you get paid but even if you do it for free... or at a loss), then you can be considered to be doing it 'professionally'. I pointed out that only a divvy would claim on his household insurance and say he was a paid gigging musician... turns out many do and companies are more and more refusing to pay out. The other scenario was that he knew of claims where stuff went missing during burglaries etc. and the claim form clearly showed that the type of equipment stolen would be above and beyond that normally expected to be used in the home (he quoted Marshall stacks etc with multiple instruments worth £***/£****), insurance companies then argued that this could only be 'professional' use... and if the onus is on you to prove otherwise you are on the back foot.

It really is worth asking the direct question about your gear being covered (rather than just assuming in the blind faith that you will be covered just because you put down on the application form that you had music equipment) and divulging exactly what you do (in writing) so that they can't try and squirm out at a later date!

[xgsjx]

I work in the insurance industry & know that my insurance covers me for. If you're not sure what yours covers, call the claims dept of your insurer & ask them. I've checked using my knowledge & also those of the claims & underwriting depts too.
With my insurance it will also cover for business use if I want & I only have to specify individual items if they're over £2500 & not being used for "business purposes".
If you need some help, PM me or ask me on here.

WH, "Proffiesionally" can vary from insurer but here's what I have:

[b] Business Use[/b]
[list]
[*]Specifically excluded from the Personal Belongings section but cover can be provided subject to the item being specified.
[*]Specify by selecting 'Other clothing and personal effects' and infill the item description and sum insured.
[*]Apply the following [b]item level[/b] free format clause and infill the item description to extend cover to business use:
[/list]
[b]Business Use [/b] The [b]PERSONAL BELONGINGS SECTION[/b] covers [b]your [/b](Infill) whilst being used for business or professional purposes.

Edited December 24, 2011 by xgsjx

[Musicman20]

I checked and triple checked that my gear was covered for gigs, on numerous occasions before I clicked on 'buy' the insurance. It did cost me more than normal house insurance but I expected that.

I have checked their T&C's and everything coincides with the conversations I've had with them.

The only caveat is the limit on each item is no more than £1,500, upto a total that I can't remember for a number of items. So, as much as my Big Al is worth a little bit more than that, it doesn't get gigged much anyway at the moment, (more for my own enjoyment practicing at home).

[warwickhunt]

[quote name='xgsjx' timestamp='1324725203' post='1477314']
I work in the insurance industry & know that my insurance covers me for. If you're not sure what yours covers, call the claims dept of your insurer & ask them. I've checked using my knowledge & also those of the claims & underwriting depts too.
With my insurance it will also cover for business use if I want & I only have to specify individual items if they're over £2500 & not being used for "business purposes".
If you need some help, PM me or ask me on here.

WH, "Proffiesionally" can vary from insurer but here's what I have:

[b] Business Use[/b][list]
[*]Specifically excluded from the Personal Belongings section but cover can be provided subject to the item being specified.
[*]Specify by selecting 'Other clothing and personal effects' and infill the item description and sum insured.
[*]Apply the following [b]item level[/b] free format clause and infill the item description to extend cover to business use:
[/list]
[b]Business Use [/b] The [b]PERSONAL BELONGINGS SECTION[/b] covers [b]your [/b](Infill) whilst being used for business or professional purposes.
[/quote]

The problem is that a lot of folks either don't want to have to pay a bit extra or are simply afraid to ask questions because they don't want to hear the truth, so they opt for the cheapest insurance and act like an ostrich when it comes to expecting cover in the event of a claim.

I've declared to my insurance company that I play with other musicians in pubs and I've declared that it is a hobby that I get remuneration for (though it is so small the tax man laughed when we tried to offset our bands earnings against tax, we were told we were hobbyists and not to be so silly as to try and claim it is a 2nd income etc).

[Musicman20]

[quote name='warwickhunt' timestamp='1324726373' post='1477335']
(though it is so small the tax man laughed when we tried to offset our bands earnings against tax, we were told we were hobbyists and not to be so silly as to try and claim it is a 2nd income etc).
[/quote]

This raises an important topic for me. Have we covered tax on earnings on Basschat before?

[warwickhunt]

I'm sure it will have been covered. My last band had to declare as the guitarist was a solicitor and it'd have barred him had he been done for tax evasion. His accountant basically got him money back from the tax man on monies spent on equipment etc. for the first two years but then his accountant basically told him that we/he could no longer claim back as we spent more on instruments, gear strings, fuel etc. than we actually earned, the tax man declared it as a hobby and as such we couldn't get money back and they wouldn't/couldn't tax us.

It all depends on the number of gigs you are doing, the fee you are getting for those gigs and to a degree the amount of money you spend on gear and associated costs; pub bands and originals bands just starting out (...or even established originals bands) are likely to make so little that it falls into the hobbyist category. HOWEVER, everyone's circumstances are different so you'd need to check out exactly where 'you' stand!

[xgsjx]

[quote name='warwickhunt' timestamp='1324726373' post='1477335']
The problem is that a lot of folks either don't want to have to pay a bit extra or are simply afraid to ask questions because they don't want to hear the truth, so they opt for the cheapest insurance and act like an ostrich when it comes to expecting cover in the event of a claim.

I've declared to my insurance company that I play with other musicians in pubs and I've declared that it is a hobby that I get remuneration for (though it is so small the tax man laughed when we tried to offset our bands earnings against tax, we were told we were hobbyists and not to be so silly as to try and claim it is a 2nd income etc).
[/quote]

If you're getting paid anything, even just petrol money or paid in beer, then that could be classed as "business use" as there is an exchange going on. So it's always best to check with your insurer.

[quote name='Musicman20' timestamp='1324725547' post='1477320']
I checked and triple checked that my gear was covered for gigs, on numerous occasions before I clicked on 'buy' the insurance. It did cost me more than normal house insurance but I expected that.

I have checked their T&C's and everything coincides with the conversations I've had with them.

The only caveat is the limit on each item is no more than £1,500, upto a total that I can't remember for a number of items. So, as much as my Big Al is worth a little bit more than that, it doesn't get gigged much anyway at the moment, (more for my own enjoyment practicing at home).
[/quote]

If you need more than that, try a different insurer. Mine has a single article limit of £2500 & an overall chosen by me of £5k.
Items over £2500 can be specified individually (such as the Mrs' engagement ring?).

[MacDaddy]

i'm covered for free through my MU membership.

[JTUK]

My home insurance specifies items upto £1500 the don't have to be defined..but above that they do.

I am working on the assumption that each of my basses could be replaced at £1500 if I went SH... and the same applies to amps etc

I have this discussion every year with my Ins compaay as Underwriters change the goal posts frequently and you basicall get a new contract every year.
It takes some getting on top of..for sure..
I have the same hassle with Winter Sports..what was covered one year..suddenly gets a few exceptions the next..!!!

[xgsjx]

Mose home insurances will get you a like for like & is New for Old, so a "New" bass/amp/whatever would be supplied. However, most insurances will offer a cash settlement to replace it with a 2nd hand one.
it sounds like your home ins co changes whom it uses as an underwriter each year.

[ficelles]

When I'm out playing, what I have with me is covered through my MU membership.

When my gear is at home, it's all covered by my home insurance.

ficelles

[alanbass1]

I don't insure, just ensure I keep an eye on my kit at gigs.

[WalMan]

[quote name='Musicman20' timestamp='1324726609' post='1477339']
This raises an important topic for me. Have we covered tax on earnings on Basschat before?
[/quote]Yes. I know I have commented on this before. Must have a search back

And as for insurance I have the MU cover extended through the policy with Hencilla Canworth. Cost me aroung £130 for about £8k last year IIRC

Edited January 8, 2012 by WalMan

[charic]

I'm covered through endsleigh music instrument Insurance. All my equipment is on it and it covers in car accident, theft, gig damage, accidental damage, damage or theft in other countries.

Infact anything except damage while someone else is using it. One of the many reasons I don't share my gear.