Home insurance for gear

Gadgie

Anyone got some ideas on how to go about this? Good companies to use etc.
Thanks
Brian

Phil_aka_Pip

I very much doubt if there's such a thing as a "good" insurance company. The best you can hope for is one that is slightly less devious and bastard-ish than the rest. Good luck with your hunting.

oaf

We're with Hiscox. If I remember correctly they seemed to have a relatively high limit before you have to declare individual items.

sw67

I use Hiscox as well - been with them 11 years now. 

Gadgie

What are the costs etc? Or does it vary?

Legionreturns

I have my business insurance with hiscox, they cover all my music equipment under it for a nominal premium. I had to have £2m liability for my music therapy sessions as the council insist on it. It was very little to just add the equipment. It's covered anywhere. 

TTony

Phil_aka_Pip said:

I very much doubt if there's such a thing as a "good" insurance company. The best you can hope for is one that is slightly less devious and bastard-ish than the rest. Good luck with your hunting.

That's not entirely fair.

A large part of the insurance world is driven by product cost (premium).  Its become that way because "we" want it cheap.  The ads are all about "save £50 on your insurance", not "make sure your claim gets paid".

If premiums are competed down, then cover has to be similarly forced down, else the company would just go bust.  Hence there's all the small print, all the get-outs and all the dissatisfied customers who don't get their claims paid.  They forget that they chose to save the £50 when they chose the policy.



There are still some companies who offer service, properly comprehensive cover, sensible claims policies etc.

But they won't be cheapest.

Our home policy is with Hiscox.  My business policy is with Hiscox.

webrthomson

I currenlty use M&S on their unlimited insurance, they only other option I had was Hiscox - either of those are superb, cover high value items, cover out the house etc.

ArchtopDave

I’m with Hiscox as well. As above, unless you’ve got an all original ‘59 Les Paul to insure, then everything else is well within their their limits.

Phil_aka_Pip

TTony said:

The ads are all about "save £50 on your insurance", not "make sure your claim gets paid".

chicken and egg. If you know they're going to weasel out of covering your loss you don't expect to pay top whack.

Gadgie

Thank you for the reply. Not got a 59:)

However, I do have a few that would cost a few thousand to replace etc....and some not so:) the problem is that at last count I've got something in the region of 30 guitars/basses....not all very expensive, but some are.

Would it be better to insure them all, or just the more expensive of them?

I don't think I would be able to put value on all of them realistically as some are more sentimental etc.

rossyamaha

Just be careful with gear on house insurance. I costed it up for mine and it was peanuts. Something like an extra £10 a month on top for around £17k of gear (at retail value). I checked when I took the insurance out and as I use it for work, it wasn't covered. Yes this I run a business that is guitar playing but even if you only gigged twice a year, or you make any income whatsover using it, it won't be covered. At least that was the case with Aviva, Direct Line and esure. I found Allianz specialist insurance while more money, offered much better cover. Not had to use them thankfully so don't know what the claims process is like. 

Legionreturns

Gadgie said:

Thank you for the reply. Not got a 59:)

However, I do have a few that would cost a few thousand to replace etc....and some not so:) the problem is that at last count I've got something in the region of 30 guitars/basses....not all very expensive, but some are.

Would it be better to insure them all, or just the more expensive of them?

I don't think I would be able to put value on all of them realistically as some are more sentimental etc.

Be really careful with under insuring. 

Insurers will penalise you for it if you have a claim. 

In ready simple terms, of you own £10,000 worth of stuff but only insure for £5000, they will average any claim made. So in this example, you're under insured by 50% ...If you had a £2000 claim they'd only pay you £1000. That's very simply put, but it's standard practice. Far better to just insure everything and over estimate value. Don't forget insurance is new for old...so you'd need the cost of a new replacement where available.

musicman100

I wouldn’t bother

supes

I sometimes wonder if its worth it but i gig so like the peace of mind that if amps etc are stolen i could replace them. Still watch my gear like a hawk though! 
I use Endsleigh and have a specific policy for my music stuff. Was never convinced i’d get anywhere near a fair payout on usual house insurance.

ToneControl

Hiscox were good for me for years,
but John Lewis is now the best

Gadgie

Thanks for the comments guys. My partner is cracking up with me as I've no got this fixed yet:(

sw67

Was with hiscox until a few months ago as premiums went up a huge amount. Going with Halifax and using Allianz to insure 4 guitars / amps / helix etx worked out cheaper than hiscox

fandango

ToneControl said:

Hiscox were good for me for years,
but John Lewis is now the best

Oh dear .. you might want to reword that. 

skunkwerx

fandango said:

ToneControl said:

Hiscox were good for me for years,
but John Lewis is now the best

Oh dear .. you might want to reword that. 

How many did he have?!? Lol