Got a lot of gear at your studio? Who's insuring it?

[Burton]

My G4 Pro Tools set-up is still in my bedroom because I'm reluctant to move the equipment down to my studio before I get property insurance. At the studio, I've got an alarm with 24-hour monitoring, and it's a concrete block building with a steel door. It's my own project studio, although I do a bit of work for other bands. I've got about $30,000 of gear I'm trying to get covered.
I'm having a really hard time finding anyone to insure me at a reasonably sane premium. I've tried getting renter's insurance (won't cover musical equipment) and business insurance (wanted to give me a $5,000 theft deductible!). I know someone out there must have found someone to write them a decent policy.

I'm not trying to rip anyone off. I just want to be able to sleep at night without fear of losing all my stuff I've worked so long to acquire. Why is this so difficult? I would greatly appreciate anyone with recommendations for an agent/company. I live in South Florida. Also, anyone who can provide info in how much premium you're paying for how much in property coverage at what deductible... that'd be nice too.

[AverageJoe]

Two companies I have used are Clarion Insurance http://www.clarionins.com/

and Music Pro Insurance
http://www.musicproinsurance.com/

At the time I was with Clarion they were around $250/yr for $33,000 of coverage- I don't know how they handled studio gear, I was insuring touring gear.

I switched to Music Pro because they had a lower minimum (the $250/$33,000 was Clarion's lowest plan at the time) and so I'm getting a lower rate now, but I believe when you get up in to the 30k range, Clarion is competitive. I only had one claim with them and they processed it no questions asked (with NO deductible as well!)

Hope this helps. It's much cheaper than a rider on homeowners and they know the ins and outs of our business.

Joe

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Joe Mazza
Average Joe Music

[paulpatras]

What renters insurance were you looking at? Renters insurance from State Farm covers musical instruments, computer equipment, etc. For $30,000 theft, fire, water, etc. you pay (in Chicago, anyway) somewhere around $20 a month!

[Burton]

Paul... State Farm isn't writing renters insurance in Florida (or so they tell me).

I went to MusicPro and they're covering $30,000 of instruments/equipment, and $10,000 of computer gear for $250 annual premium with $100 deductible. This coverage is also off-premises, seems like less hassle than renter's. Thanks for the advice.

[AverageJoe]

The other good thing about Music Pro and Clarion is your gear is covered anywhere in the world for any reason- in your car, at someone else's studio, etc., so if you do any location stuff you're good. They will also cover gear you borrow assuming you let them know you have it- a nice "selling point" when you need to borrow a friend's gear!!

PS- I think State Farm pulled a lot of coverage from FL after Hurricane Andrew in 1992 or 93... I lived there then and remember a lot of people getting a raw deal from them.
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Joe Mazza
Average Joe Music

[This message has been edited by AverageJoe (edited March 22, 2001).]

[ProTools4]

Thank 4 the info



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"Natorious" Tad Banzuelo
Rockin' SoCal
[email protected]

[tld]

I just got a policy with Music Pro. Seems like a great deal to me. My stuff's covered no matter where it is, even in transit.

I wouldn't ever want to wind up in the position where I was trying to debate the replacement of digital audio equipment with some insurance person who only deals with homeowners or renters insurance...especially given all the issues that can arise if you loose obsolete gear etc.

Tom


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http://www.digitalaudiorock.com
The Protools Plugin Preset Co-op

[tomcat]

holy coinage batman. I'm going to check out one of these places. I currently pay $1,500/yr for 100k with fireman's fund but I just found out they don't want to renew. Thanks for the thread!

[tld]

tomcat,

That will cost you about half that much with Music Pro.

Tom