Insurance for my horns

[Chriss2760]

While renewing my homeowners insurance policy recently I noticed a provision that excluded coverage of musical instruments if they are played professionally. I don't know if this is new or if it's been there all along and I just missed it. Anyway, a quick call to my agent confirmed that coverage is not available through his company, (MetLife) for my horns as long as I play them for hire. (They had previously listed them as "scheduled" items.)
So, I'm wondering if this provision is unique to MetLife or do other companies have it too? Can anyone recommend a company to insure my horns? I just really glad that I found this out now.

[Navytubaman]

EDIT:

After reading threads from other insurance professionals I believe now I may have been paying for worthless insurance as well and will contact my agen ASAP. They had assured me professional use was covered, but they just want the commission.

Valuable lesson learned.
JKD

EDIT:

I have had for many years a Commercial Inand Marine Policy from Erie Insurance.

It was available after placing my homeowner's policy with them. I had to present supporting documents as to their value, and ran about $90 a year.

I don't know why it is called a Land and Marine policy, but know it covered my instruments wherever they were and no matter the use.

You may have to shop around to find a company willing to write this kind of policy. Most likely you will have to change homeowner's insurance to whatever company you find as well.

Hope this helps...

[fpoon]

My tuba and bass/amp are covered in my home owners policy with State Farm. I pay a little extra every 6 months (I think like $16?) and the items are insured JUST AS IF they had been INSIDE the house if something happens to them OUTSIDE. I have the same policy on my laptop.

Check into it. I'd imagine Allstate and other big ones have a similair policy.

[tbn.al]

I've been a professional insurance agent and an amatuer low brass player for 30 years. The exclusion has always been there to my knowledge. Buying an Inland Marine policy from your homeowners carrier is not the answer either. The exclusion applies anyway. If a homeowners carrier finds out that you play for money they can and will in most cases deny the claim. The personal lines rates simply do not comtemplate the additional commercial risk. I even heard of one company who asked for tax records to prove that the guy was not getting paid. He of course was not paying taxes on his gig money anyway so he sent in the returns and got his claim paid. Your best bet is to go to a specialty company like Clarion, pay the exorbant rate and sleep nights. It shouldn't cost more than about $10 per thousand per year. One of the reasons I play as an amatuer is that I don't want to hassle the taxes and insurance. The other is that I don't play all that well anyway!

[iiipopes]

The reason such a policy is called a "marine" or "floater" policy is that in the early days of insurance the only policies that really dealt with casualty losses of personal property were policies pioneered by Lloyds of London for the risk of shipping goods to the UK from the East Indies and other places. So if your ship didn't come in, literally, you made a claim for the value of the goods that were supposed to be shipped into port. Later, this type of policy was extended to all personal property in general, and is now most commonly associated as a rider on a homeowners policy for content.

But since personal property was never a part of the original New York "127 lines" classic fire policy on which all fire/building/homeowners policies have a common history, originally a separate policy had to be written for the contents/personal property. Of course, then, since the marine companies were used to doing that, you originally had separate polices: one for protection against fire loss for the property & buildings, and one for casualty losses to the contents/personal property. And since these policies were on land-based items, then the seemingly oxymoronic phrase, "inland marine" described the polices. Eventually these were merged into the common comprehensive homeowners policy we know now, but the part for the personal property is still called a "rider," "floater," or "marine" part or section of the policy.

And most insurance companies still differentiate between purely "personal" items and commercial policies since there is understandably a greater risk of casualty loss to commercially used property that is constantly before the public, as opposed to the pretty vase on top of grandmother's piano that never goes anywhere and noone really sees except family and friends.

[tbn.al]

most insurance companies still differentiate between purely "personal" items and commercial

I must have found another insurance professional. Your answer is complete and accurate. I have only one addition:

PLEASE CHECK YOUR POLICY FOLKS. You may call your agent and get an incorrect answer to what is covered. Unless they are musicians they probably haven't paid any attention to the differentation between professional use instruments and personal use instruments. This exclusion is in every major company's policy that I have seen. Be safe. Buy a commercial policy if you are getting paid. If not, you better have your story straight, " I just stopped by the club on the way to my church orchestra rehearsal, honest"

[iiipopes]

Nah, but I used to have to interpret a lot of policies in a former life for clients. My mother is the insurance broker, having written policies of all lines since 1969, and my uncle was a career claims specialist for a nationally known insurance company.

[SplatterTone]

Called the agent, Farmer's Insurance. If not professional, they's considered personal property, insured ONLY while in the house (theft, fire, etc.) and subject to policy deductible. (probably depreciation too).

[Rick Denney]

I got a quote from Clarion a couple of years ago, but have procrastinated foolishly. I will go through with it soon.

They quoted me $275 for a minimum coverage policy. That policy covers $35,000 of musical instruments against all potential loss except vermin and corrosion. Thus, you have to take care of your instrument, but if you fall down the stairs with it, it will be covered at full value.

The price has probably gone up since I talked with them, and the $10 per year per $1000 of coverage sounds about right.

They also have discounts for members of a range of organizations, including the AFM but NOT including ITEA.

http://www.clarionins.com

Rick "now filling out forms on their website" Denney

[Chriss2760]

Here's the latest:
According to my agent even though the underwriter won't insure my horns as "scheduled items" (for which I would pay an extra premium), they are covered under my blanket homeowner's policy as personal household property (for which I pay no extra premium.) He assures me that anything other than an intentional loss would be covered, no matter where it occured.
Doesn't make any sense to me.

[tbn.al]

the underwriter won't insure my horns as "scheduled items" (for which I would pay an extra premium), they are covered under my blanket homeowner's policy as personal household property

And it shouldn't make any sense to you because it is BS. Your agent may not be musical but he can sure tap dance. You know your policy has an exclusion because you already read it to us. The company didn't print that in the policy because they had some ink left over that week. You have few options at this point.

1. If you have a claim, lie, lie, lie about ever playing for money. This becomes problematical if 1099's are in existence and insurance fraud if you are caught. Bad choice.

2. Call the claims office and get a clarification on what your agent told you. You already know what they will say.

3. Buy a specialty policy and cut through all this BS.

PM me if you need anything else. I'll be glad to try to help, but keep in mind I don't sell the specialty policy you need.

[james]

one word..... Clarion.

[Getzeng50s]

All i have to say is www.musicproinsurance.com

They charge me $125 a year for my PT6 Miraphone firebird and a Laptop.

If your worried... get insurance from a company that offers it specifically for the instrument. its awesome.

Mike

[iiipopes]

And another minor point of trivia, "Big Ben" is actually the name of just the bell chiming the hour in the Parliament clock tower, named after a famous boxer of the day. It cracked some years ago. A shame. I got to hear it both before it cracked and after. A real shame.