Author: paul
Date: 1999-10-07 18:08
Full replacement retail price premium (i.e. $5000 coverage): $60/yr
Wholesale (or mail order via Internet) price premium (about half the above dollar figure): $50/yr
The difference in premiums for about twice the price allowable for a replacement is nearly trivial. You see, it's not necessarily the horn that I'm insuring. Rather, it's the investment. How much insurance I buy is not necessarily tied directly to the price I actually paid for the horn. Rather, it's exactly what Dee said. I'm covered up to the worst case scenario - full retail price. As long as there is a realistic basis for the price that can be independently verified and I'm willing to pay the premium, my insurance company is okay with it. Be sure to check with your own insurance company to get accurate quotes on premiums. Most of all, if you suffer a loss, make sure the insurance company doesn't talk you out of your full benefit that you paid for dollar-for-dollar. It's a contract and it's your job to see that it's enforced to your full benefit. For instance, if I suffered a loss with my Buffet Festival, I will refuse to accept the insurance company's offer of an R-13 as a suitable replacement. They are not the same horns, especially in price.
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The Clarinet BBoard
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