Instrument / equmipent insurance

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Bernie Galaxy
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Location: Wellington

Instrument / equmipent insurance

Postby Bernie Galaxy » Tue Oct 13, 2009 6:53 pm

Hey guys, i'm fast aproaching around 20k$ of music equipment alone just sitting in my room and my mic case.

Probally the time to look at getting some insurance right.

Anyone thought about this before / have it.

Reccomendations?

other than retarded ones like a long term savings approach when I can achieve more by investing wisely into more equipment naturally.

surely someone else here must be in a similar or more experienced position.

I haven't really used insurance other than 3rd party car before.
Last edited by Bernie Galaxy on Tue Oct 13, 2009 6:55 pm, edited 2 times in total.

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buckton
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Re: Instrument / equmipent insurance

Postby buckton » Tue Oct 13, 2009 10:56 pm

I had one through Tower Insurance that covered gear when you left it places other than your vehicle, like your mates place or a venue. When my laptop got stolen from a motel I tried to claim on it but they said "oh computers aren't covered unless you nominate them" so if you go with that pack of fuckheads find out what value/types of things are covered automatically.(actually that probably goes with any insurance company) I paid up for two long years to have my first claim rejected, naturally I canceled my policy there and then. They said "are you sure you don't just want to nominate your laptop now?" I said "I don't have one anymore" Luckily it was near the end of the tax year and the nice lady from the motel I stayed at 5 nights a week bought me a new one. Haven't bothered with insurance since.
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Bernie Galaxy
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Location: Wellington

Re: Instrument / equmipent insurance

Postby Bernie Galaxy » Tue Oct 13, 2009 11:32 pm

so read the fine print, got that one already.

hrm ... surely there must be a critical point where your ability to generate money vs your asset total makes it worth while to insure?

slob
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Re: Instrument / equmipent insurance

Postby slob » Wed Oct 14, 2009 11:37 am


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general
Posts: 3346
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Re: Instrument / equmipent insurance

Postby general » Wed Oct 14, 2009 6:37 pm

tower insurance, home and contents, covers your stuff outside your house too, $30/month for about $40k of replacement value cover

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Hamtown Dave
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Re: Instrument / equmipent insurance

Postby Hamtown Dave » Wed Oct 14, 2009 7:03 pm

Fuck insurance... the only thing I have that's worth stealing/insuring is my computer... and I've bolted that fucker to the wall.

Things that I reckon are of more value than insurance

Get an alarm
Put your gear in a room with lockable doors.
Where possible, hide your shit.
Electronically tag everything.
Bolt things to walls or the floor.
Make friends with the neighbours, get their phone numbers and call around if you see anything dodgy (this worked awesome with my old neighbours, I always felt safe leaving the house as long as I locked the doors and set the alarm. A couple of times that we accidentally set our own alarm off the neighbours were around within 2-3 minutes to check everything was sweet.)
Get a dog.
Flat with students or night-shift workers that aren't utter fuck-ups.
Staunch out any dodgy looking people you notice scoping your house out... or just assertively tell them to leave and not come back.
Call the community copper and give them a description of any person who comes on to your property asking for random directions, looking for friends that they reckon used to live at your house, or their dog who has run off.
I had a guy come to my house asking to buy a run-down car we had parked in the driveway, despite wanting to get rid of it, the guy gave me suss vibes, so I told him that it wasn't for sale, and that it wasn't ok for him to come onto my property and look at it without coming straight to my door.

Make sure you turn off the stove and iron before you leave the house, don't light candles, put sand in your ashtray... generally don't burn your house down.

Take out insurance on old gear you want to replace, wait 6 months then have a mate come around and steal it, then sell it to friends from another city. Claim insurance.
Last edited by Hamtown Dave on Wed Oct 14, 2009 7:14 pm, edited 1 time in total.
ONE MAN CREW

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general
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Re: Instrument / equmipent insurance

Postby general » Wed Oct 14, 2009 8:30 pm

:lol: you should do an advice column. i just cancelled my insurance.

CFH
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Re: Instrument / equmipent insurance

Postby CFH » Sat Oct 17, 2009 7:22 pm

I don't bother but have heard its common they wont cover your shit if you make money with it... if thats relevant to anyone here

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fat mike
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Re: Instrument / equmipent insurance

Postby fat mike » Sun Oct 18, 2009 10:25 am

CFH wrote:I don't bother but have heard its common they wont cover your shit if you make money with it... if thats relevant to anyone here


dont even have to make a lot of money for it to be classed as a business tool and not covered.

EG that might affect a lot of us - gigging in a band that might have a $5 charge on the door every now and then. Most play just for fun and use the door charge to cover costs, BUT because of this it is classed as a money making activity and not covered. Ex band mate got fucked over like this. Moral of the story - lie when you claim.
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Bernie Galaxy
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Location: Wellington

Re: Instrument / equmipent insurance

Postby Bernie Galaxy » Sun Oct 18, 2009 11:50 am

or get the right cover in the first place.

I make money with some of my stuff. some of my stuff seldom leaves the house but I want to insure it because it cost a pretty penny and because a lot of it is Vintage sorta stuff replacement costs are a lot higher.

This is quite funny....

7. Am I covered if I lend, loan or hire my equipment to another person?

If you lend your equipment to a responsible adult, then yes you are covered (providing the person you are lending the equipment to does not steal it!). ( http://www.insuranzdirect.co.nz/faqs.cfm )

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tyrannosaurus mark
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Re: Instrument / equmipent insurance

Postby tyrannosaurus mark » Wed Nov 11, 2009 12:23 am

Haha! Loving that clause
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PertHJ
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Re: Instrument / equmipent insurance

Postby PertHJ » Sat Dec 12, 2009 10:55 am

One potential option is going to a broker as they be able to taylor you a policy which will cover your specific requirements (ie while gigging etc), which a main stream insurer wont do as their policies are set to cover the things they cover.

BUT

I work for AA Insurance at the moment so naturally I'm biased in their favour as I hear all the horror stories of other companies and how awesome we are - so here's my spiel.

AAI is kewl coz

-New for old replacement - this means that you get a brand new item if you need to claim on something (the exclusions being clothing, toiletries and footwear which are paid out with depreciation taken into account) - Other companies will try sell 'market value' policies which means you only get paid out minus any depreciation (ie to buy something second hand) which makes the insurance somewhat pointless.
-Your contents are covered anywhere in NZ (as long as reasonable care is taken - obviously this is up to the company to decide something like 'Guitar/amps left in car and visible over night' would probably get declined. ie use your common sense and don't assume it will be sweet because you have insurance).
-They pay out on something like 99% of all claims and generally have a pretty speedy turn around time - some of the other main stream companies will find any excuse to get out of paying or take a fucking long time to pay out.

A couple of things to be aware of is that you probably wont be covered 'while in use' ie playing the guitar what evs', also as CFH said 'professional use' can be a reason for decline or a much smaller pay out.
And make sure you specify things if they need to be as its a very easy way of not getting the full worth - if you would deem something a 'collection' its good to specify it just in case. - A list of what AAI needs specifying is on the policy booklet link below.

Also no claims bonus's on contents (AAI doesn't have) can be dodgy as if you wanna make a claim it can put your premium up a few hundred dollars the next year.

Anyway, check out [url]aainsurance.co.nz[/url]
and the policy booklet: http://www.aainsurance.co.nz/resources/policydocs/AAi135%20-%20Contents%20CoverPolicy.pdf
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