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'All Risks' Insurance


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Musical instruments of any real value usually fall outside normal household contents insurance and anyway, are unlikely to be covered out of the house. I have used EFL for all my 'gigged' instruments and kit, but their rates seem to be climbing rapidly and I wondered if UK members would kindly share their recommendations and experiences on instrument insurance?

 

David

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It is sometimes possible to include instruments on a household policy, including on an "all-risks" schedule which would cover them away from the premises. However any "professional" use (no matter how small the payment) will not be covered. Also, the typical scenario for folk musicians who may perform on stage (sometimes at quite large venues) for no fee is possibly a grey area - the insurance company will look for any excuse not to pay out. You are unlikely to be covered if the instrument is in an unattended vehicle.

 

In my opinion it's well worth going to a specialist insurer. They understand the risks better and might actually know what a concertina is.

 

For years I've used Musicians Insurance Services who I've found to be helpful and who've paid out promptly when I've had to claim.

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It is sometimes possible to include instruments on a household policy, including on an "all-risks" schedule which would cover them away from the premises. However any "professional" use (no matter how small the payment) will not be covered. Also, the typical scenario for folk musicians who may perform on stage (sometimes at quite large venues) for no fee is possibly a grey area - the insurance company will look for any excuse not to pay out. You are unlikely to be covered if the instrument is in an unattended vehicle.

 

In my opinion it's well worth going to a specialist insurer. They understand the risks better and might actually know what a concertina is.

 

For years I've used Musicians Insurance Services who I've found to be helpful and who've paid out promptly when I've had to claim.

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I also use Allianz. I haven't compared recently but when I first took it out its level of cover seemed excellent. My policy price seems to have remained about the same for the 5 years I've been with them.

 

Cover details from allianzmusicalinsurance.co.uk...

 

* Worldwide — all risks cover (accidental loss or damage to instruments)

* No excess

* Our specialist claims service to track down lost and stolen instruments

* Depreciation as a result of damage

* Professional use

* Loss or damage whilst in use

* Theft from unattended vehicles (optional extra on policy)

* Theft from your place of work or study (e.g. concert hall or school classroom)

* Damage in transit ( please see "Travel Advice" )

* Free cover for musical accessories (bow, case etc), valued between £10 — £250 subject to a total of £500 on any one loss

* Cost of hiring alternative instruments in the event of a claim, (subject to a limit of 10% of the sum insured for the item and a limit of £1,000 in total for any one claim)

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When I purchased my Edeophone a few months back I received a recommendation from a bass clarinet player re BBIS (Brass Band Insurance Services). Despite the name they most certainly do insure other types of instruments- cover does include theft from an unattended vehicle (unless being left overnight) ie in transit, amongst other things, and professional use. The person who recommended them had insured a number of her instruments with them for over 20 years. Might be worth a look? http://www.brassbandinsuranceservices.co.uk/individuals.asp

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If you've bought a concertina from abroad and want to insure is...how do you work out what to insure it for?

Coz the price seems to change daily with exchange rates..and do you factor in P&P?

Its all sooo confusing...I think I might just have to do my own insurance policy and put money aside. :(

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If you've bought a concertina from abroad and want to insure is...how do you work out what to insure it for?

Coz the price seems to change daily with exchange rates..and do you factor in P&P?

 

If your instrument insurance is offering replacement value (which is worth checking) then you should value the instrument at the cost, including P&P, on the day you decide to take the cover out. When your renewal comes around in a year's time reassess the value you've put down and increase it if the variance due to inflation and/or exchange rates is significant.

 

Once you're insured you should also get a few days grace period on any new purchases, so if you buy a new instrument, or pricey accessories such as a hard case, you should add those to the policy during the grace period and certainly before you take the new bit of kit out anywhere.

 

I'm another one who uses Musicians Insurance Services and have always been very satisfied.

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If you are in the Musicians Union you can insure instruments upto around 2K for free.

Allianz Cornhill give discount to MU members - I use them.

 

I've also got my insurance with Allianz, and I think I remember that they also offer a discount to members of other musical-related associations including the ICA. I applied online and I think I just had to quote my ICA number.

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