Insuring guitars

mikew · January 2021

Just been broken into and has made me realise what’s important materially. It was my garage and an alarm saved my bikes. They got my back door keys through the catflap(!) but garage alarm saved the day.

Now I think about the value of my guitars inside. Not insured individually but on house insurance and realistically my Collings OM2H and Turner resonator would not be replaced. The others I could cope with albeit sorely.

So, I know I can pay extra but who does cover their instruments?? Any ideas. Do thieves know the value of a guitar vs a big tv or jewellery etc.

AllthegearNoidea · January 2021

I cover my guitars through my house insurance for theft and damage. It also covers me for theft and damage outside of the house.

You have to prove the guitars are worth what you’re insuring them for. I used a pdf of the receipt or get a valuation from a guitar shop that is authorised to give insurance valuations.

I insured £6k for about £6 per month through my contents provider.

Grampa · January 2021

Only one guitar of any value and that's covered on the house insurance, theft and damage, both at home and away from the house. I don't gig and probably never will so don't feel the need for specialist instrument cover.

TrevinDevon · January 2021

My contents insurance has a limit for valuables, but they ask for any individual item worth more than a certain amount to be specified. They don't increase the premium when I add a guitar, so long as the total for valuables remains below the ceiling.

danishbacon · January 2021

Allianz instrument insurance and relax.

brucegill · January 2021

danishbacon said:

Allianz instrument insurance and relax.

Good to know. Doing a quote now!

I have one guitar I bought new and 3 that I bought second hand. Stupid question, but do you put the new value of all of them? Or the price you paid for all of them?

danishbacon · January 2021

brucegill said:

danishbacon said:

Allianz instrument insurance and relax.

Good to know. Doing a quote now!

I have one guitar I bought new and 3 that I bought second hand. Stupid question, but do you put the new value of all of them? Or the price you paid for all of them?

Have a read through the full t&cs, they’re short and clear. Insure for replacement value, new, numbers that you can evidence online.

Regarding proof of ownership, over the phone they told me, photos of the guitar, serial number and one of the guitar with me to prove ownership + evidence of value online covers what they need to know.

fretmeister · January 2021

New Moon Insurance for me.

BingMan · January 2021

mikew said:

Do thieves know the value of a guitar vs a big tv or jewellery etc.

I think if they deem your house worthy to break into i'm guessing they'll assume that any guitar in there is going to be worth something and therefore worth taking... unless it's so heavily relic'd they assume it's a piece of shit that Crack Convertors wouldn't be interested in.
I pay for my guitars to be individually listed on the house insurance for both inside and outside the house. Not that they often leave the house, but it'd be a shame for something to happen on the rare time I did.

Moleman · January 2021

I used to use a specialist policy through an insurance broker. Every year I would update and send an Excel sheet with my guitars and amps (plus hi-fi, record and CD collections) as specified items. The policy had an individual item limit of £3,5k. Just this last year I changed over to John Lewis home and contents insurance and now have more comprehensive cover with higher overall limits for an appreciably lower annual premium. I’ve decided to invest the insurance renewal savings into upgrading my home security.

mikew · January 2021

Thanks for this. So for less than 1% of the value or your instrument you get pretty comprehensive insurance. Vs 10% ish for bespoke bike insurance (I’m talking more expensive bikes). a good deal!

lincolnblue · January 2021

Think I will need to look at insurance for my new guitar. Is it usually insured for the cost you bought it for or what it's worth? I got a Taylor 710e which new were £2800. Mine is new but as it's a few years old it cost me £1,800. My other guitars are under £1,000 in value but this one might be worth insuring as I'll use it away from home too. Hopefully won't cost me more

Moleman · January 2021

lincolnblue said:

Think I will need to look at insurance for my new guitar. Is it usually insured for the cost you bought it for or what it's worth? I got a Taylor 710e which new were £2800. Mine is new but as it's a few years old it cost me £1,800. My other guitars are under £1,000 in value but this one might be worth insuring as I'll use it away from home too. Hopefully won't cost me more

Most home contents insurance policies are ‘new for old’ - in that you are insuring the item for the cost of replacing it with a brand new replacement. Depending on the specific terms of the insurance policy, you might end up having to pay to have your Taylor individually listed as a ‘specified item’. Ensure that whatever policy you end up going with covers the guitar both at home and away from home. I would add that I am not an expert in insurance, so please take all this with a pinch of salt and do your own research... A poster above (fretmeister), mentioned New Moon Insurance and I did take a look at their bespoke policies aimed at musicians and music students/ instrument collectors and they do look very interesting.

MikeC · January 2021

My less expensive (sub £2k) stuff is automatically covered on normal household policy with LV, but their specified items above that level was expensive. For these I've just gone with New Moon - very easy and simple to get on line, good price.

andy1839 · January 2021

I'm with New Moon for all my guitars, amps and pedals.

Covers them in the house, in transit, at gigs, in the car etc and it's new for old too so you don't need to worry about wear and year or valuations.

I've got about £100k of gear insured for about £1000 a year.
Very easy to deal with and put up with me adding and swapping over guitars all the time.
Definitely gives peace of mind.

JamieLF · January 2021

Another +1 for New Moon insurance from me. I've never had to make claim so can't comment on that (and heaven forbid that I ever need to) but their prices are very reasonable and customer service has been very good.

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