From: carolyn@usna.navy.mil (Ms. Carolyn Mayr (CADIG STAFF))
Newsgroups: rec.music.makers
Subject: Re: Insuring home studio equipment?
Summary: Erie insurance for band equipment
Date: 23 Jul 92 12:38:45 GMT

In article <1992Jul22.175415.12415@grebyn.com>, brian@grebyn.com (Brian Bishop) writes:
> 
>    I have talked to two companies, GEICO and USAA, and both were more
> than happy to insure my equipment. You do have to promise that it is
> for "non-professional" use, and you have to buy a minimum amount of
> insurance (12K-15K). They even offer full-cost replacement options,
> and GEICO offered me a discount because I get my car insurance from
> them. Note that this was "renter's insurance" and not a rider on a
> homeowner policy. But I would think that a company would be more
> interested in extra business from a homeowner policy than a piddley
> 12K renter's policy...
> 
>   BB
> 

Last year, the same insurance topic was discussed.  Here is a copy of
my post:

"I have renters insurance too and I searched high and low for insurance to 
cover my band equipment.   I shopped around and finally chose Erie last month.

Speaking to my insurance company, I was told that when it comes to band 
equipment there are 2 categories: professional and non-professional.
Professional means that you get paid for that gig.  Period.  Even if you
don't do it full time.  Professional means you have to have your equipment
covered under a separate Marine-Midland "all risk" policy.  Not all insurance 
companies will cover band equipment and keep in mind it is expensive (if I
remember correctly, to cover $8,000 worth of equipment costs approx $150/year).

NOTE:  If you get paid ANYTHING, even a dollar, the gig/jam is considered 
professional so make sure you know the difference.  Here's what Erie covers:

While my equipment is in my basement, it is covered as personal property
(non-professional) under my current renter's policy.  I have all my personal
property covered for replacement value (non-depreciated).  It costs a little
more but it is worth it.  Keep in mind that the equipment is only covered
for fire, theft, etc. (see your policy) and not for the type of things
that could happen at most gigs.

When I play at a non-paying gig/jam at a location other than home (i.e. 
non-professional) it is covered under my regular renter's insurance 
as "personal property at a temporary location".  With this in mind, the band 
equipment of your band members sitting in your basement should be covered 
under their own personal property insurance.  

When I play at a gig (paying, i.e. professional), my equipment is not covered
at all unless I get a Marine-Midland floater.  This floater is ALL RISK
meaning that equipment is covered for anything -- fire, theft, some
bozo pouring beer on your soundboard, dropping your mic or breaking your
guitar neck.  That is probably why it is so expensive.

So when you call insurance companies, make sure you specifically ask
them about band equipment.  Most companies I spoke to were fairly
ignorant about musical equipment so make sure you ask them questions
like "if I take my equipment from my basement to my friends house/club
is it still covered under my regular policy?"

Good luck."
				Carolyn Mayr

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