Home-based instrument insurance rip-off

[Bogwhoppit]

To cover musical instruments at home ( only at home ) for a value of £4000 costs £72 a year. That does not include accidental cover, falling of the wall and killing a visitor or earthquakes !. This is just for theft and fire.

My house insurance is £152 per year for a four bedroom house and includes up to £3500 worth of specified items ( ie Instruments ). For an extra £20 a year I can insure the instruments on there own.



For £72 a year covering £4000 I would want a tall blonde wearing a batman outfit to come and give me some " Long time loving " if they got stolen and full gigging cover.

[nocaster]

Who's that with?

My insurance covers practically everything as long as it happens in the EU. It £6.5k of gear (guitars, PA, etc) and costs me £115 a year.

K

[bertie]

Im with direct line and get a massively better deal than that.

However Ive nothing that is of a high enough value to be 'named' at the moment.

[loverocker]

I had to shop around and changed insurers. Mainly because most didn't want to cover vintage guitars - some wanted me to put in an alarmed cupboard for them!

[Bogwhoppit]

My house Insurance is with More Th>n ( They are by far the cheapest from any quote I have had ) The musical insurance quotes I obtained were with around six company's, all around the same price.

I don't know who would pay out a further £72 when you can ring your home insurance provider and they will add it all on for £20. I can understand the premium if it was for gigging, Insured while away from home or accidental damage, but for simple theft and fire while in the house its a bit steep.

I have £3500 of equipment covered with my house insurance and a further £10k with the guitars kept in the studio. But was short of £5k's cover for recent additions.

[Shpeil]

Originally Posted by Bogwhoppit

I don't know who would pay out a further £72 when you can ring your home insurance provider and they will add it all on for £20. I can understand the premium if it was for gigging, Insured while away from home or accidental damage, but for simple theft and fire while in the house its a bit steep.

The folk who'll buy this are the folk who, like me, can't get house insurance from regular providers. Living in shared (rented) accommodation, you're severely restricted as to what contents insurance you can get. Hardly any of the insurers will touch it. In fact, I've taken the musical instruments off my contents insurance and made a saving by going with a specialist musical insurance provider.

[noisepolluter]

Originally Posted by Shpeil

. In fact, I've taken the musical instruments off my contents insurance and made a saving by going with a specialist musical insurance provider.

I've got an instrument policy with Alianz Cornhill now which has much better cover and is cheaper than putting them under home contents.

[Bogwhoppit]

Originally Posted by noisepolluter

I've got an instrument policy with Alianz Cornhill now which has much better cover and is cheaper than putting them under home contents.

I just tried Alianz Cornhill and they came in at £39 for £5000, so its a big improvement. But I am going to stick with my house insurer for £20.