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Insurance... Music, Household or other?


rodfunnell
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Hi collective BassChat mind...

I am having to reconsider my insurance options for my musical equipment...

I am in the UK and have a few items at home that I gig regularly (Covid permitting), these are covered on my home insurance and have on occasion had to be listed specifically for certain underwriters when over £1000, £2000 etc. These are covered at home or anywhere in the UK (or Europe if extended) for accidental damage and theft. Happy Days.

I have some items that don't go to gigs and are usually at home, these are treated the same as above. Happy Days.

I have some items stored in my late mother's house that get brought down occasionally to mine or for unequipped gigs - these were on the insurance at that address and insured in the same way, but now probate has been granted the insurance there has to change and go to a unoccupied house insurance with specific contents insurance. This has an individual item limit of 1000 and does not cover outside of home for use. In the future this will be a rented property with a storage element so I and contemplating a total overhaul of insurance. Not so happy days.

To give some context the items are a full PA with monitoring system, 2x mixing desks, lighting rigs, multiple DAW units and preamps, cables. Full drum kit. Keyboard. A number of bass and guitar amps (approx 10), cabs (approx 10), guitars (approx 15) and basses (approx 15) the instruments vary in value from £100 - £2500. I fear Hiscox specialialty insurance may end up being prohibatably expensive.

What do others do in a similar situation?

Thanks in advance for any helpful suggestions - my wife's suggestion of getting rid of it all is less than helpful!

 

 

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30 minutes ago, rodfunnell said:

my wife's suggestion of getting rid of it all is less than helpful!

Is it really though?  Seems like a very long list of stuff that you hardly ever use.  PA and mixing desks I understand, but the number of amps, cabs, guitars and basses is an indulgence that you seem to lack facility to keep.  If these items were that important you's have them at home.

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manage your own risk is an option, no insurance payments and only keep what you need and are prepared to take responsibility for and get rid of the rest, you'll be better off, and your wife will be happy you listened to her; why pay insurance that you'll likely never claim on, and if you do the insurance company will do it's level best to find a way to not pay out or reduce the settlement and then hike your premiums to cover their loss ?

 

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I would carefully check any house insurance policy, we had ours cancelled when I enquired about instruments at gigs, they classed any paid gig as a second job and this was excluded on the policy so they gave us a week and cancelled it, luckily it was through a broker and they found us a good deal so we weren't left uncovered. 

 

I have my gigging gear on a separate policy with Allianz, the rest of my kit is covered on the house insurance with a few of the instruments specifically named due to their value, these are covered as long as I'm not being paid which is fine as they are usually only used at church. 

 

Matt

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  • 6 months later...

Thanks for so much advice. I just needed it. I have been thinking for a long time about where I can get insurance for my musical instruments because it is clear that it is a safe and efficient method. In my circle of friends who also deal with music, this topic was often talked about and most said that they turned to this company victorcknight.co.uk, so I'm thinking of turning to them too, but I'm still thinking . I would like some extra opinions and more people to talk to on this topic.

Edited by Brandia
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What about putting it in a storage unit? Surely they have insurance as part of the storage cost? Not something I've ever done but if the property all this kit is located at now is going to be rented out then surely you need to put all this kit somewhere safe? 

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