Speaking of insurance, who insures their drums?

[LizH]

I just bought the home owner's policy for my new house, and the first woman I spoke with said my equipment would be covered under my personal belongings in the policy. I had to speak with the owner of the office (State Farm) about something unrelated, so she questioned me on what I would be doing with the massive garage, so I told her about the plans for the studio. Even though the studio is my personal studio and I won't be recording others, it will hold the equipment that I use with my band --- where I get paid. So because of that, it's considered business property according to her, and will not be covered under my home owner's policy. Yeah, I have a couch and a bed, etc. but all I REALLY own is musical equipment, so that needs to be fixed! She's supposed to call me with quotes for additional coverage.

Anyone else run into this situation? I think if it's in my house, and it's mine, it should be covered, regardless of how I use it! Now I'm going to have to shell out even more $$ for this additional rider...

 

[jashoup]

I've run into this too. From my experience, it seems that if you're making money with some of your property the insurance company does not consider it to be a part of your "home." I actually have a rider on my renter's policy to cover my drums if they get stolen from a club, damaged in a car crash, etc.

They're in it to make money, so of course they're going to find ways to dice up your stuff and charge you for it. Unfortunately I think you'll get a similar answer no matter what insurance company or agent you talk to. And, knowing their game, it's in your best interest to pay for it. If you try to play the gray areas and keep it under your home policy, and something bad did happen to your stuff, you would most definitely get screwed.

 

It is very clear. The musical instruments of the home hobbyist and collector are insured either under the homeowner's policy or with a separate rider for specific items. If the owner of the musical gear uses the stuff to earn money, an insurance policy for that gear can be written. There is, however, a gray area. The acoustic piano in the living room is not carted to gigs. The electronic piano is used for gigs. Therefore. is the living room piano covered by the homeowners' policy? I believe that it is. What about the gigging drummer's drums that never leave the house? Are they covered by the homeowners policy?

 

[reidjazz]

I have American Family Insurance for all my insurance needs and along with homeowners, auto, I have a professional business policy (about $180/yr) that covers my instruments WHEREVER they are...small price to pay IMHO.

 

[duanedrum]

I insure my drums, cymbals, etc. with a separate policy I have through the Union. I'm not sure I could get the same amount of coverage for the price with a "rider" attached to my home owners policy. My equipment policy covers my gear anywhere, even at home.

 

[johnlamond]

I have a special rider on my homeowner's policy to cover my musical gear and my gun collection. It costs me a few hundred per year for this extra coverage.