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I need insurance! But Clarion wants a year upfront... help!
Old 8th July 2007
  #1
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Rufuss Sewell's Avatar
I need insurance! But Clarion wants a year upfront... help!

I want to insure my studio gear above and beyond my home owners insurance. I have roughly $160K in gear. I've read a ton of great stuff about Clarion. I was pretty much sold. When they quoted me $1300/year I thought that was a pretty good price! Unfortunately they want an entire year in advance!!! I was prepared to pay quarterly at most. I know it's mostly for businesses that have a budget for this sort of thing, so I understand. But I'm a budget home studio just squeaking by and I need a monthly or quarterly plan.

1. Can anyone recommend someone who deals specifically in instruments with a great reputation that offers a payment plan?

OR

2. Does anyone have a buddy over at Clarion that can kick the little guy a break? I mean they're still getting my money one way or the other so it seems like they'd budge, but the guy I talked to said he didn't have permission to haggle on that particular topic.

Thanks!
Old 8th July 2007
  #2
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Meriphew's Avatar
 

Clarion always runs an ad in the pro audio rags. Mention that you subscribe to Mix/EQ/Tape Op, and they'll give you something like 10% off your first year (new policy holders only).
Old 8th July 2007
  #3
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True North's Avatar
 

Thats how it works with commercial insurance unfortunately. If you buy it through a broker they will sometimes allow you to pay it out over 90 days and some will also offer financing plans but there will be financing charges associated with that. You are better off using a line of credit from the bank as it will be cheaper than financing through a third party like a broker or insurance firm.
Old 8th July 2007
  #4
Gear Addict
 

Also the way it works over here, UK, I've never heard of any insurance being payable over the year, it's always been upfront for all my polocies
Old 8th July 2007
  #5
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The MPCist's Avatar
 

Quote:
Originally Posted by DSMrehearsal View Post
Also the way it works over here, UK, I've never heard of any insurance being payable over the year, it's always been upfront for all my polocies
Same here as well. Yearly payment all upfront.
Old 8th July 2007
  #6
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drmmrboy's Avatar
 

Insure a few choice things @ 80k. Then in a few months, add the rest and up it to 160k... When it comes time to renew you'll get hit with the total. But at least you'll be ready for it by then..

I'd bite it, & insure everything now. thumbsup

ps thanks for the reminder. I need to update my policy.
Old 9th July 2007
  #7
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Rufuss Sewell's Avatar
Quote:
Originally Posted by DSMrehearsal View Post
Also the way it works over here, UK, I've never heard of any insurance being payable over the year, it's always been upfront for all my polocies
Thanks for the tips!

In contrast, my home owners, auto, and health are all paid on a monthly basis. If I don't pay it's cut off. Pretty simple. I've never had to pay more than 3 months upfront for any insurance. And I've bought a lot of it.
Old 9th July 2007
  #8
Gear Nut
 

I just had my agent add an additional $45k to my homeowner's policy as a musical instruments rider. Not sure what the ceiling on this is, but my insurance company is Hanover. They have been around a long time and no problems with em thus far.

S!
Jason
Old 9th July 2007
  #9
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darkwater's Avatar
 

Are you a member of the musician's union? They have insurance available, I believe. I think the company is Wohler's.
Old 9th July 2007
  #10
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Fleaman's Avatar
 

Quote:
Originally Posted by Rufuss Sewell View Post
Thanks for the tips!

In contrast, my home owners, auto, and health are all paid on a monthly basis. If I don't pay it's cut off. Pretty simple. I've never had to pay more than 3 months upfront for any insurance. And I've bought a lot of it.
Auto insurance used to be 1 year up front (at least in CA)....yet now everyone offers payment plans (with a fee).
Old 9th July 2007
  #11
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True North's Avatar
 

Quote:
Originally Posted by Rufuss Sewell View Post
Thanks for the tips!

In contrast, my home owners, auto, and health are all paid on a monthly basis. If I don't pay it's cut off. Pretty simple. I've never had to pay more than 3 months upfront for any insurance. And I've bought a lot of it.
That is also how it works here for personal insurance. For commercial insurance it's another ballgame altogether and I don't know why.
Old 9th July 2007
  #12
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RCM - Ronan's Avatar
Quote:
Originally Posted by theremin View Post
I just had my agent add an additional $45k to my homeowner's policy as a musical instruments rider. Not sure what the ceiling on this is, but my insurance company is Hanover. They have been around a long time and no problems with em thus far.
Not sure if you are a hobbiest or do recording for at least some part of your income, but I would recommend you talk to your insurance broker to make sure that your gear is fully covered if you use any of it professionally. With many home owners and renters policies professional equipment is NOT covered and they can deny your claim if they find out you use the stuff for a business.
Old 9th July 2007
  #13
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Plush's Avatar
Sir, have you ever had to file a claim with Hanover Insurance?

The reason I ask is that I had to sue them to get them to pay my claim.
I spent a lot of money suing them. Three years after initiating the claim, they lost the lawsuit and had to pay my claim and my attorney's fees (in excess of $80,000)

My advice is to realiize that Hanover offers cheesy insurance coverage.


Quote:
Originally Posted by theremin View Post
I just had my agent add an additional $45k to my homeowner's policy as a musical instruments rider. Not sure what the ceiling on this is, but my insurance company is Hanover. They have been around a long time and no problems with em thus far.

S!
Jason
Old 9th July 2007
  #14
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Meriphew's Avatar
 

Quote:
Originally Posted by rcm View Post
Not sure if you are a hobbiest or do recording for at least some part of your income, but I would recommend you talk to your insurance broker to make sure that your gear is fully covered if you use any of it professionally. With many home owners and renters policies professional equipment is NOT covered and they can deny your claim if they find out you use the stuff for a business.
True that. Most home owner type policies (State Farm/Farmers/Etc) won't cover your gear if you are using it for anything other than a hobby.
Old 9th July 2007
  #15
I have had good luck with Heritage. They paid very promptly on an $1800 claim. No questions asked.

diamondjim
Barn Jazz Home
Old 22nd November 2016
  #16
Gear Nut
 

Not true. I attempted this method of getting a discount with Clarion. I said I subscribe to Tape Op Magazine and found out about Clarion from an ad there. The agent told me he would need to see a picture of the ad. I cant provide that, because I was lying. In fact, he said Tape Op isnt even running Clarion ads right now. To get a discount with Clarion, I would need to ACTUALLY know of a magazine that is definitely currently running a Clarion ad, and reference that magazine. Anybody know of one?
Old 23rd November 2016
  #17
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Squawk's Avatar
Quote:
Originally Posted by MashburnGear View Post
Not true. I attempted this method of getting a discount with Clarion. I said I subscribe to Tape Op Magazine and found out about Clarion from an ad there. The agent told me he would need to see a picture of the ad. I cant provide that, because I was lying. In fact, he said Tape Op isnt even running Clarion ads right now. To get a discount with Clarion, I would need to ACTUALLY know of a magazine that is definitely currently running a Clarion ad, and reference that magazine. Anybody know of one?
If they are going to bust your balls over a magazine ad discount, just imagine what they'll do if you ever have to file a claim...
Old 23rd November 2016
  #18
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dfchandler's Avatar
 

Has anyone checked out these guys?

https://www.ajg.com/industries/enter...rograms-tools/

Denny
Old 23rd November 2016
  #19
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myles's Avatar
 

Quote:
Originally Posted by diamondjim View Post
I have had good luck with Heritage. They paid very promptly on an $1800 claim. No questions asked.

diamondjim
Barn Jazz Home
I'll help resurrect this thread with a second on Heritage. Although it's labeled as a musical instrument policy, I've had no problem adding studio gear after speaking to them about it. Everyone there is always really easy and nice to deal with, and Travelers, who actually provides the insurance, was actually very helpful and happy to pay on a claim.

One great thing about Heritage/Travelers is that, for vintage guitars, for example, they actually insure for loss of value - so, if you have a '37 D-18 and the headstock breaks, they pay up for the 25% - 50% loss in value, not just the cost of the repair. Obviously, you'd have to provide good backup, but that's the way it works.

Finding a helpful, honest insurance company was a real surprise.
Old 23rd November 2016
  #20
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Fleaman's Avatar
 

Quote:
Originally Posted by myles View Post
I'll help resurrect this thread with a second on Heritage. Although it's labeled as a musical instrument policy, I've had no problem adding studio gear after speaking to them about it. Everyone there is always really easy and nice to deal with, and Travelers, who actually provides the insurance, was actually very helpful and happy to pay on a claim.
Why not deal with Travelers directly? Heritage sounds like awesome people, but if they're just a middleman would you not get a better deal cutting them out?

Travelers lists music instruments and sound equipment as items they offer to cover>

https://www.travelers.com/personal-i...age/index.aspx

Consider Valuable Items Coverage for:

Jewelry and engagement rings
Silverware, china and crystal
Antiques
Fine Art
Stamp and coin collections
Bicycles
Trophies
Sound equipment (recorders)
Sports equipment (archery, camping, fishing, skiing)
Wedding gifts
Cameras
Computers
Musical instruments
Golf Equipment
Furs
Guns
Pedigreed dogs
Garden tractors
Political campaign collect

That last item to cover is kinda an LOL for me...ha.
Old 23rd November 2016
  #21
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Quote:
Originally Posted by dfchandler View Post
Has anyone checked out these guys?

https://www.ajg.com/industries/enter...rograms-tools/

Denny
Yeah. Used them for years. Probably the best program out there. Joe Montarello knows his stuff.

--Ben
Old 23rd November 2016
  #22
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I have Joe montarello. They offer monthly payment too for not much more
Old 24th November 2016
  #23
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PdotDdot's Avatar
Quote:
Originally Posted by myles View Post
I'll help resurrect this thread with a second on Heritage. Although it's labeled as a musical instrument policy, I've had no problem adding studio gear after speaking to them about it. Everyone there is always really easy and nice to deal with, and Travelers, who actually provides the insurance, was actually very helpful and happy to pay on a claim.

One great thing about Heritage/Travelers is that, for vintage guitars, for example, they actually insure for loss of value - so, if you have a '37 D-18 and the headstock breaks, they pay up for the 25% - 50% loss in value, not just the cost of the repair. Obviously, you'd have to provide good backup, but that's the way it works.

Finding a helpful, honest insurance company was a real surprise.
Yeah, I have my instruments registered with Heritage and my recording equipment registered with Clarion. No experience with claims (knock on wood) but I have gotten excellent service from both when it came to getting info and adding or subtracting from my policy's.
Old 26th November 2016
  #24
Here for the gear
 
kyletroop's Avatar
It's not specific studio/musical instrument insurance. But I took out a business owners policy through American Family Insurance. They do yearly, quarterly and monthly payments. It's also replacement cost, not actual cash value. So I'll get what I need to replace the gear instead of what they think it should be valued at.
Old 27th November 2016
  #25
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Plush's Avatar
Don't goof around. Talk to Joe Monterello. He offers the best insurance program.
None of the other insurance companies offer a program tailored to the recording business.

The other companies will sell you a policy and then you will most likely fight them to get a claim settled. That is because no one at the company knows anything about recording equipment or the recording business.

Beware!

Joe knows and he offers insurance through very reputable and nationally known companies. Higly recommended!

https://www.ajg.com/media/955399/Rec...-Insurance.pdf
Old 28th November 2016
  #26
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Silvertone's Avatar
Yep, I helped Joe design the policy over 15 years ago.

Joe is a musician as well, a great bass player actually.

No one else I know covers intellectual property rights in their studio coverage (that would be all the hard work of your clients recorded on all those hard drives you own).

Unfortunately like all insurance it's gotten pretty expensive over the years. That said they paid on both Black Dogs fire and robbery without any question. Now that's what really determines good insurance.
Old 28th November 2016
  #27
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myles's Avatar
 

Quote:
Originally Posted by Plush View Post
Don't goof around. Talk to Joe Monterello. He offers the best insurance program.
None of the other insurance companies offer a program tailored to the recording business.

The other companies will sell you a policy and then you will most likely fight them to get a claim settled. That is because no one at the company knows anything about recording equipment or the recording business.

Beware!

Joe knows and he offers insurance through very reputable and nationally known companies. Higly recommended!

https://www.ajg.com/media/955399/Rec...-Insurance.pdf
Thanks - this looks very good, and unique, and knowing about Larry's involvement is a plus. If I were running a commercial facility these days, it would be a necessity. For my purposes (mostly instruments, with some studio gear - mostly things sent in for repair) Heritage is great, but this is good to know about.
Old 28th November 2016
  #28
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Gringo Starr's Avatar
 

Has anyone used Music Pro Insurance?
Old 4th April 2018
  #29
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chet.d's Avatar
 

Quote:
Originally Posted by Silvertone View Post
Yep, I helped Joe design the policy over 15 years ago.

Joe is a musician as well, a great bass player actually.

No one else I know covers intellectual property rights in their studio coverage (that would be all the hard work of your clients recorded on all those hard drives you own).

Unfortunately like all insurance it's gotten pretty expensive over the years. That said they paid on both Black Dogs fire and robbery without any question. Now that's what really determines good insurance.
2018 check in.
Joe still the most reliable bet going? Any other relatively equally trustworthy options folks can mention for consideration ?
Old 5th April 2018
  #30
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PdotDdot's Avatar
Weird - I have Clarion and I do not recall them asking me to pay a year in advance. I also have some of my stuff with Heritage - give them a try. I've never had to process a claim but they are two of the heavy hitters when it comes to musical instruments and recording equipment.
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