What You Need To Know About Insuring Your Saxophone
Anyone who owns a saxophone, be it a high-end professional model or an intermediate-grade student instrument, should give serious thought towards protecting their investment. The two best ways to do so are purchasing musical instrument insurance to protect against potential accident, damage or theft, and installing a home security system for overall safety.
Finding the Right Level of Insurance for You
Insuring a musical instrument is paramount, but doing so can be tricky. While a security system provides excellent protection for your home, it won’t cover the cost of repairing or replacing a valuable investment like a saxophone. Professional musicians rarely put their instruments on their homeowners’ policy because the cost is too high for the type of coverage they get. Some insurers, including Anderson Group, are devoted to insuring musical instruments. As they insure some major symphony orchestras, musicians and collectors, they understand the exact type and amount of insurance a saxophone owner needs. MusicPro is another company that is devoted to catering to all insurance needs of musicians. The company offers multiple different types of insurance designed to fit the needs of instrument owners and musicians of every level. Affordable rates begin at $100 a year.
Choosing the Right Level of Coverage
The level of coverage you get for your saxophone will depend on whether you’re a professional musician, a collector, a student or hobby musician. A student or hobbyist shouldn’t need more than simple insurance to cover minor repairs. Many instrument retailers that sell to students will offer basic protection along with the purchase of the instrument.
When looking for a suitable insurance policy, be sure to find out if it will cover the instrument for the purchase price, the appraised price or the full replacement value. As an example, an owner of a Selmer Mark VI will likely want extensive coverage that will pay for all repairs and the cost of replacing the instrument. Keep in mind that some professional-grade vintage saxophones will appreciate, so it is essential to have a provision for increased value in the insurance policy. You’ve made your home safe; now make sure your musical instrument is equally covered.
March 5, 2012 @ 11:19 am
The problem with insurance is that it is often place specific or has all these exceptions in updates to the policy. For instance I signed my horns up under my renter’s insurance and found out they weren’t covered after all, because I work with them. I had bought extra car insurance for them, same thing. So we need a little more specifics on this article, because the agents will tell you anything to sell the policy, and when it is time to claim……
March 6, 2012 @ 9:34 am
I used to have my instruments insured via Clarion Insurance. They really covered things well. Like to and from a gig, or even if you were loaned someone else’s horn and you told them about it.
Kinda expensive, but worth it. I should renew my stuff with them…..I let it lax for the last couple of years because I forgot and couldn’t afford it at the time (during the 2008-2009 economic crash).
I think I have nearly 30K worth of stuff insured on there and it was something like $350 for a year……