 The Clarinet BBoard
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Author: theNarrator
Date: 2003-09-07 03:12
hi. I just bought a new R13A and would like to insure it along with my R13bflat (which is also currently uninsured). I am a high school clarinetist and am very unfamiliar with the process. Could anyone explain it to me? How much would it cost me (monthly/yearly)? What would it cover?
thanks in advance for any and all advice.
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Author: Mark Charette
Date: 2003-09-07 03:16
As long as you're a student your household or apartment insurance can have a special rider to insure the instrument(s). It's the cheapest way.
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Author: theNarrator
Date: 2003-09-07 03:19
I live in a rather rundown apartment, and my parents don't see a point in insuring the items that we have, so i don't have any household insurance. Would i still be able to insure my clarinets separatly?
thanks
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Author: Mark Charette
Date: 2003-09-07 03:25
I recommend everyone get apartment insurance - it's cheap and covers your belongings (like the computer you're using, your college textbooks, your expenses should something happen to the apartment and you'd have to stay in a hotel, etc. I didn't pay all that much for my kid's coverage - we totalled up how much the computer, TV, CDs, stereo, VCR, music books, microwave, and a few other things cost and figured the insurance for a few years was way cheaper than having to replace the stuff should a theft or fire occur. The apartment owner's insurance covers NONE of your articles should something happen.
I don't believe any insurance company would cover the instruments by themselves; they'd have to be covered via a rider. If you're a member of the Musician's Union, you can investigate professional coverage of your instruments, but it won't be cheap.
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Author: theNarrator
Date: 2003-09-07 03:29
http://www.clarionins.com/
they claim to insure instruments and it doesn't mention anything about household insurance. But i don't know if it could be trusted. It also doesn't say much about pricing and the process. If anyone has any experience with this, any advice would be appreciated.
Mark, thank you soo much for your input on this. I will try to talk my parents into getting household insurance.
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Author: theNarrator
Date: 2003-09-07 03:37
oh, and what is the average cost of a standard renter's insurance? what are the monthly/yearly charges? (asking for my parents)
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Author: Jim E.
Date: 2003-09-07 04:00
Renters insurance varies by the area, the companies' rate structure, and by the face amount of the policy (the amount covered.) Typically, such policies run only a few hundred a year (or less.) Besides covering THE CONTENTS of the rental unit, they typically offer some general liability coverage.
We currently have coverage for 4 instruments including an R13 which costs about $25 a year as a rider on our homeowners policy. Typically such riders eliminate limits on coverage, provide coverage for more types of loss, and may lower or eliminate deductables for the item(s) covered. We also have a rider for computer gear including a lap top.
You will need to provide the agent with a bill of sale for new items, or an appraisal for older ones.
A rider will not cover instruments used professionally.
Take this as general info only, and have your parents speak to an insurance agent. I'm not an agent, but my wife is, and I've learned from her.
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Author: LeWhite
Date: 2003-09-07 04:26
I have my instruments insured through an instrument insurer - this insures it agains theft, loss, if *I* break it, cracks (water damage), etc. etc. and is covered at home as well as anywhere I go.
This costs AU$240 a year.
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Author: hans
Date: 2003-09-07 12:56
Hi Terence,
I had my instruments (one clarinet, two saxes) appraised by a dealer who sells my brand for their replacement value, which was $15,000 U.S. It cost about $365 U.S. per year to add a rider to my home owner's policy so that they would be insured when I took them outside my home to play professionally. The cost of insurance works out to about 2.5% of the instruments' value. A friend in the insurance business tells me that the 2.5% is typical.
Since it's difficult to predict what could happen while you are out with your instruments, you are very wise to consider insurance.
I emphatically agree with Mark that you should have apartment insurance. While I have no expertise in insurance, I would be surprised if you were not held liable (and sued) for damage to the building and its contents if a fire started in your apartment and you were judged to be responsible.
Hans
Post Edited (2003-09-08 12:37)
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Author: JMcAulay
Date: 2003-09-08 02:27
Renters insurance, like homeowners insurance, is a relatively inexpensive way to protect yourself against all kinds of problems, not the least of which is personal liability. Just about every casualty insurer offers these types of policies.
Generally, a rider to an existing policy will be less costly than individually insuring items of high value. But an "Inland Marine" policy can be issued on one or a group of valuable items against a wide array of losses. The cost will depend on the nature of the losses covered by the policy and, of course, the value of the insured property. Loss by fire or theft, for example will be less expensive protection than replacement coverage if you should break your instrument yourself, or perhaps lend it to someone who absconds with it. Protection against these sorts of losses are written by casualty insurance companies all the time.
Perhaps foolishly, I do not carry insurance coverage on any instruments other than my Yamaha grand piano.
Regards,
John
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Author: Ralph Katz
Date: 2003-09-08 20:10
If you use your instruments professionally, you will need "Inland Marine" all-risk coverage. Instruments used professionally are specifically ruled out by normal waivers on homeowners polices.
Members of American Federation of Musicians can insure instruments, without having any other insurance policy. Their carrier is:
Marsh Group / Affinity / Seabury-Smith (not sure what their name is now - they have merged multiple times)
1440 Renaissance Drive
Park Ridge, IL 60068-15400
800-503-9230
My instruments are covered on an inland marine rider on my home-owners policy, but I also have all risk insurance on my ham radio equipment from the American Radio Relay League, who uses the same people listed above. The people I know who have had claims (for lightning strikes or theft) report reasonable service.
I am not an agent for the AFM, the ARRL, or the above agency.
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Author: Clarinetpunk
Date: 2003-09-09 15:56
There are a few music stores that will insure instrumentswhile your are in school. I Know American Music will, and you can just pay for several years in advance. They cover all reapairs, and will replace it if it is lost or stolen. Though they will only cover if you live in state. also, try to contact some of the local college music professors, they should know a direction to point you.
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Author: Wes
Date: 2003-09-09 17:37
On looking at lists of stolen instruments, one sees that many of them are taken from schools and autos but very few are taken from homes. I know of two persons who had burglars ignore the instruments while they took jewelry and money. Thus, the student must be extra careful with instruments at school. In addition, it would be best to never leave an instrument unguarded in an auto.
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Author: theNarrator
Date: 2003-09-09 22:37
Clarinetpunk,
would i have to buy the instrument from American Music to be eligible for their coverage? and is there a minimum amount of years i have to subscribe to the policy for?
do you know of any other store that do this?
thanks to all of you. your imput has been greatly appreciated and has helped me a lot.
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Author: DAVE
Date: 2003-09-12 04:24
When I was a student at DePaul my clarinets were stolen from my locker. My mom's homeowner's insurance covered the replacement for them WITHOUT a rider. I am not sure this will work in every case, but it did that time.
One month after getting married, my wife and I were robbed. My clarinets were not taken that time, only the usual--cds, vcr, etc. We had just gotten renters insurance the week before. You just can't imagine how much money it takes to replace your stuff untill you actually have to. In my case it was close to 12,000 dollars to replace the incidental things that were taken. You really cannot aford not to have some sort of insurance even if you think your things are not worth anything.
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