Insuring gear. Ideas?
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- Wagz
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Insuring gear. Ideas?
Hey guys,
So, I have a lot of my own gear sitting around the studio I've been renting. Would love to get it insured. Problem is I'm having trouble finding someone who will actually give me a price point less than full coverage on my car... Which is a bit too high.
Getting a little frustrated at this point.
Anyone know any reputable companies who won't be charging me an arm and a leg?
Thanks.
So, I have a lot of my own gear sitting around the studio I've been renting. Would love to get it insured. Problem is I'm having trouble finding someone who will actually give me a price point less than full coverage on my car... Which is a bit too high.
Getting a little frustrated at this point.
Anyone know any reputable companies who won't be charging me an arm and a leg?
Thanks.
Snoring Hound Studio
Kalisepll, MT
Kalisepll, MT
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I don't know how much full coverage on your car costs, how much your gear is worth, or what you consider an arm and a leg to be, but I've used MusicPro Insurance for several years. Never had to submit a claim, but I've been happy with the coverage they provide vs. the amount they charge me.
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- Waltz Mastering
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Also check out local agents who cover small biz. Some liability policies will cover 50 to 80 grand in equipment, and i've seen these policies go for around $550 a year. .. and as mentioned Joe Montarello has been around for a while http://www.spars.com/tag/joe-montarello/ gl
+1 This. Much cheaper than insuring specific pieces, and can include liability, etc.Waltz Mastering wrote:Also check out local agents who cover small biz. Some liability policies will cover 50 to 80 grand in equipment, and i've seen these policies go for around $550 a year.
Audio Mastering in Portland, OR
www.vitamastering.com
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- Wagz
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Thanks guys,
Think I have it sorted out. Had a local agent looking around for me. Luckily, the way our arrangement is at the studio, I don't have to worry about liability. The studio is on private property, and the owner has all his stuff, and liability covered already.
So I just have to worry about gear at the moment.
Think I have it sorted out. Had a local agent looking around for me. Luckily, the way our arrangement is at the studio, I don't have to worry about liability. The studio is on private property, and the owner has all his stuff, and liability covered already.
So I just have to worry about gear at the moment.
Snoring Hound Studio
Kalisepll, MT
Kalisepll, MT
- Wagz
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OH, understood on that one. I'm covering my gear. I'm just saying for liability, so if some genius trips on his shoe laces and decides to sue the place.. That is on the guy who owns the place. I'm not currently the one taking care of the grounds.
I'm just grabbing coverage for fire, theft, Acts of God, etc.
I'm just grabbing coverage for fire, theft, Acts of God, etc.
Snoring Hound Studio
Kalisepll, MT
Kalisepll, MT
You have to check your lease. Many landlords require tenants to have their own liability insurance.Wagz wrote:OH, understood on that one. I'm covering my gear. I'm just saying for liability, so if some genius trips on his shoe laces and decides to sue the place.. That is on the guy who owns the place. I'm not currently the one taking care of the grounds.
I'm just grabbing coverage for fire, theft, Acts of God, etc.
- Gregg Juke
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^^^^ They usually do, up to $500,000 sometimes (often).
I'm paying about $600 a year for coverage on liability and something like $20-$30,000 in gear. I think I may be under-insured, but there weren't a lot of options last I checked.
If anyone wants to get more specific with MusicPro, I'd love to hear about them.
GJ
I'm paying about $600 a year for coverage on liability and something like $20-$30,000 in gear. I think I may be under-insured, but there weren't a lot of options last I checked.
If anyone wants to get more specific with MusicPro, I'd love to hear about them.
GJ
Gregg Juke
Nocturnal Productions Music Group
Drum! Magazine Contributor
http://MightyNoStars.com
"He's about to learn the most important lesson in the music business-- 'Never trust people in the music business.' "
Nocturnal Productions Music Group
Drum! Magazine Contributor
http://MightyNoStars.com
"He's about to learn the most important lesson in the music business-- 'Never trust people in the music business.' "
- Wagz
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Yeah, me and him (the owner) sorted out the liability end a while ago.
Think I have things sorted. Got a local agency with a good rep giving me some decent pricing. If that doesn't work out I'll go with the MusicPro guys.
Thanks for bringing them up. Had never heard of them before.
Think I have things sorted. Got a local agency with a good rep giving me some decent pricing. If that doesn't work out I'll go with the MusicPro guys.
Thanks for bringing them up. Had never heard of them before.
Snoring Hound Studio
Kalisepll, MT
Kalisepll, MT
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- zen recordist
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You should contact Alex Maiolo with Lee Moore Insurance near Chapel Hill, NC. He writes for the magazine and specializes in studio insurance. He got me a RIDICULOUSLY awesome policy for my new place when I moved two years ago and he's been extremely helpful for the last couple of years. Our coverage costs about the same as what we were paying MusicPro a few years ago, but we've got nearly $200,000 more in equipment, $10k in hard drive recovery insurance, a million in liability, our construction costs are covered, and I think $10k worth of band's equipment is covered while it's at my place. All for what we were paying before without that through MusicPro. Plus, in two instances, I had questions about my policy and Alex absolutely went to bat for me with the company who writes our policy. I can't say enough good things about him as an insurance agent.
Chris Garges
Charlotte, NC
Chris Garges
Charlotte, NC
A word to the wise, the lawyers' credo being "sue everyone", whatever deal you have cut with yer landlord to indemnify you may not prevent you from being named a defendant, which at minimum could easily cost you court fees and an attorney.Wagz wrote:OH, understood on that one. I'm covering my gear. I'm just saying for liability, so if some genius trips on his shoe laces and decides to sue the place.. That is on the guy who owns the place. I'm not currently the one taking care of the grounds.
I'm just grabbing coverage for fire, theft, Acts of God, etc.
And in a situation that allows the insurance company to attempt to deny coverage (say, for example, an intentional act by a drunk customer assaulting someone), you would be the first they try to cut loose ...
As well, as a named insured (if you are - check that), you may not be covered for an injury on premises ... Nor, as unlikely as it may be, for any kind of insurance claim against your landlord (say, he visits one night, leaves the door unlocked ...)
It sucks, it's exoensive and a true PITA, but full coverage is what you want and need if you are in business, and as soon as you can get it.
- Wagz
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Good point, this is america.
I'll give garges guy a call and see what they can do me for.
I'll give garges guy a call and see what they can do me for.
Snoring Hound Studio
Kalisepll, MT
Kalisepll, MT
- Gregg Juke
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>>>>A word to the wise, the lawyers' credo being "sue everyone", whatever deal you have cut with yer landlord to indemnify you may not prevent you from being named a defendant, which at minimum could easily cost you court fees and an attorney.<<<<
Yes, and if you have an indemnification agreement with said landlord, do make sure to get it in writing!
GJ
Yes, and if you have an indemnification agreement with said landlord, do make sure to get it in writing!
GJ
Gregg Juke
Nocturnal Productions Music Group
Drum! Magazine Contributor
http://MightyNoStars.com
"He's about to learn the most important lesson in the music business-- 'Never trust people in the music business.' "
Nocturnal Productions Music Group
Drum! Magazine Contributor
http://MightyNoStars.com
"He's about to learn the most important lesson in the music business-- 'Never trust people in the music business.' "
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