Hi, all!
I am curious what others have done to get insurance for expensive guitars, like PRS Private Stock.
I recently went through a whole runaround with my insurance company (state farm). I don't use my guitars for gigging (they asked, and I do understand they should be covered under homeowners in that case) but I wanted to add them to a personal articles policy, like we do for my wife's jewelry).
Anyhow, on 2 guitars, a PRS CE24 and a PRS PS, they denied coverage because of "no appraisal within 2 years". They didn't even ASK for that... These guitars are valued over 1k, which is why they seem to require an appraisal.
But of course all the lower prices guitars they added. I told my agent to tell them if they don't take the other two (especially the PS) they won't get any and I'm looking for a different insurer.
Sorry about the rant.. my blood is still boiling a little at the underwriter... lol
Anyhow..
1. Any good 3rd party insurance places that could insure an 7k+ PRS PS guitar.. and if it gets stolen/destroyed it could be replaced by a similar PS (since they seem to be one of a kind)
2. I've asked my agent this, but what is a good appraisal place? Local guitar shop (PRS dealer)? Hopefully my agent can get a list of appraisers they accept, but are there any they should accept without question? Maybe I should get them all appraised as I have a few others that are probably worth more than 1k, but I estimated a little more conservative.
I am afraid if I try to use a local dealer they give me "what they would give me for trade" vs an appraisal.
Thanks!
I am curious what others have done to get insurance for expensive guitars, like PRS Private Stock.
I recently went through a whole runaround with my insurance company (state farm). I don't use my guitars for gigging (they asked, and I do understand they should be covered under homeowners in that case) but I wanted to add them to a personal articles policy, like we do for my wife's jewelry).
Anyhow, on 2 guitars, a PRS CE24 and a PRS PS, they denied coverage because of "no appraisal within 2 years". They didn't even ASK for that... These guitars are valued over 1k, which is why they seem to require an appraisal.
But of course all the lower prices guitars they added. I told my agent to tell them if they don't take the other two (especially the PS) they won't get any and I'm looking for a different insurer.
Sorry about the rant.. my blood is still boiling a little at the underwriter... lol
Anyhow..
1. Any good 3rd party insurance places that could insure an 7k+ PRS PS guitar.. and if it gets stolen/destroyed it could be replaced by a similar PS (since they seem to be one of a kind)
2. I've asked my agent this, but what is a good appraisal place? Local guitar shop (PRS dealer)? Hopefully my agent can get a list of appraisers they accept, but are there any they should accept without question? Maybe I should get them all appraised as I have a few others that are probably worth more than 1k, but I estimated a little more conservative.
I am afraid if I try to use a local dealer they give me "what they would give me for trade" vs an appraisal.
Thanks!
