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Insurance claims
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| Looney4Clooney |
Anyone ever file a claim ? Is it worth filing for 5000 if the damage is due to negligence from the tenant above me. And if you do file , and premiums will go up regardless, should I just claim more. And will they honor appraisals by music stores stating the value and give the current market vālue
Feel like it would be a hassle. |
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| tehlord |
| The claim should be on his Landlords insurance, not yours. |
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| Looney4Clooney |
| But you go thru your own company. My deductible is 2000. wether I get that back or wether my premiums go up is all speculation. Never made a claim īn my life but my credīt is and music equipment + bad credit = adjusters taking a long time and tickling your . |
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| tehlord |
Well as far as I know (based on a couple of claims here a decade ago) even if your insurance company deals with it, it won't be your policy paying out so you shouldn't be liable for any penalties or increases.
It's probably best to call them and ask them how it works.
Mind you they'll always you in the end. |
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| Looney4Clooney |
| Yup. My dad always told me that y get 1. So if you ever have to claim, it should be enough to account for e cost of all your insurance paid over your life. Or at least close to. 5000 seems like it just isn't worth it. |
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| tehlord |
Has the landlord/tenant accepted liability yet?
If so get them to settle with you outside a claim, and amicably suggest that the cost of any increased insurance premium for you will result in more financial claims. |
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| DJ RANN |
Geoff is right on this one, it's the landlords insurance and that's why you pay rent.
Unless of course he's paying you cash and you're going for a double dip ;) |
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| Allied Nations |
you should check out the SOCAN insurance looney
the coverage looks pretty killer, i think when i buy the mac pro i will go for it |
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| Looney4Clooney |
they charge more than any other company. I mean they are a middle man.
5000 is just too small to get involved with insurance companies. I am just going to work something out with the landlord.
The very fact that you are musician makes you high risk. Going thru socan is just a terrible idea for something that isn't music related.
When they ask your profession, your premiums will change if you say musician, or if you say multimedia adviser. even if you are doing the same thing. Its just how it works. A musician is more likely to defraud an insurance company.
i have a violin insured for 30 000. But it is listed as family heirloom. Not musical instrument. THey have a risk quotient for everything. And once you file, your premiums go up. So you better make it worth your while.
thelords advice is what i'm going to do. |
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| Allied Nations |
SOCAN members: Protect the tools of your trade
The Front Row Insurance Musical Instruments and Studio Liability Program is now offered to SOCAN members, so that they can protect the tools of their trade. Sample premiums to insure your instruments and gear for theft, fire, and breakage are as follows:
Value of gear Premium
$10,000 $150
$20,000 $250
$30,000 $375
$40,000 $500
$50,000 $625
$100,000 $1,250
$200,000 $2,500
The above premiums are discounted 25% for classical musicians. The program includes $10,000 of complimentary office contents coverage. Add general liability coverage for your studio, or while on tour, for $450 (annual) for a limit of $1,000,000 and $650 for $2,000,000. If a guest is injured while attending your gig, or in your studio, liability insurance will assign a lawyer to defend you and pay the damages for which you're responsible. Liability insurance will also pay for any property damage you inadvertently cause. |
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| Looney4Clooney |
Think about how much that actually applies, then think about how it is already covered via home insurance, there is no point. It is not mean for people that produce in a private studio. 100 000 for 600 is terrible. I think I pay half that and am covered for fire by hooker. And I have terrible credit.
All you need is an assessment by a store, they will charge 100 ish. pictures with sn, receipts speed things up but not required. |
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