Equivalent new model for insurance purpose

[morgancolgrave]

Hi, I'm wondering what would be the equivalent new model for my SC245 Artist Package?

Looking to update my insurance and don't know what the current RRP for this model which they don't offer anymore.

Thinking perhaps the 594 SC but, what is the current equivalent to the Artist package?

Thanks in advance

 

[veinbuster]

594SC would be the replacement model.
There is no Artist package equivalent.

 

[11top]

Make sure it’s insured on AGREED VALUE or the dollar value listed is meaningless anyway (other than to establish the premium you’re charged). Without AV, you have to PROVE the value at the time of the loss.

 

[morgancolgrave]

594SC would be the replacement model.
There is no Artist package equivalent.

I get there is no Artist package anymore. Does the 594SC come with a higher grade top as standard? If not how do you get a 594SC with a fancy top?

 

[veinbuster]

I get there is no Artist package anymore. Does the 594SC come with a higher grade top as standard? If not how do you get a 594SC with a fancy top?

No, 594 does not have higher grade tops than 245.
To get a fancy top, you watch for a wood library with upgrades (off the table for now) or Private Stock.

 

[Glide-bpm]

For insurance? Private Stock. Artist unavailable... only way you could get the same grade or better.

 

[morgancolgrave]

Seems crazy that Private Stock or Wood Library are the only way to get the same spec. Surely these are more $$$ than speccing a core model with the Artist Package was. I dont know new $ as I usually only buy/trade used.

 

[Broseph]

Best bet is finding market value for a 10 top Sc594.
Typically artist have Brazilian boards right? That’s wood library level. But I find most wood library have unique woods or neck finishes that are higher than artist

 

[veinbuster]

Seems crazy that Private Stock or Wood Library are the only way to get the same spec. Surely these are more $$$ than speccing a core model with the Artist Package was. I dont know new $ as I usually only buy/trade used.

If you only buy used, current new availability is irrelevant. Check what is on the market and use that as the ‘agreed value’ noted by 11top.

 

[morgancolgrave]

Best bet is finding market value for a 10 top Sc594.
Typically artist have Brazilian boards right? That’s wood library level. But I find most wood library have unique woods or neck finishes that are higher than artist

Yeah Brazilian Board and head plate

 

[morgancolgrave]

If you only buy used, current new availability is irrelevant. Check what is on the market and use that as the ‘agreed value’ noted by 11top.

Hmm, just wondering if insurance would pay out agreed value, or 'replace' with similar model, which is why I'm enquiring? I guess the problem with agreed value is prices fluctuate on the used market all the time and availability is scarce for certain models.

 

[bodia]

Hmm, just wondering if insurance would pay out agreed value, or 'replace' with similar model, which is why I'm enquiring? I guess the problem with agreed value is prices fluctuate on the used market all the time and availability is scarce for certain models.

Nah, that’s not how agreed value works. Steve is the insurance guy, but my take is that you agree upon a value at the time you insure the guitar. If you file a claim in the future it isn’t the future value/depreciation of the guitar, it is the amount you agreed upon up front. Classic car guys would use this type of insurance too.

 

[11top]

Nah, that’s not how agreed value works. Steve is the insurance guy, but my take is that you agree upon a value at the time you insure the guitar. If you file a claim in the future it isn’t the future value/depreciation of the guitar, it is the amount you agreed upon up front. Classic car guys would use this type of insurance too.

That is correct. “Agreed value” is the contractually agreed upon limit set up front. No proof required at the time of the loss (unlike “replacement cost” which requires proof at claim time.) Agreed value can always be adjusted in the future as needed.

 

[11top]

Btw, some insurance companies won’t offer Agreed Value. Ditch ‘em.