Your house is on fire and you only have time to grab one guitar...

helmi

single & satin
Joined
Apr 27, 2012
Messages
598
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cleveland
Since the rules say "one", it would be the Westie


c5ebHW1.jpg
Wow is that beautiful looking!
 

11top

Cousin Eddie's cousin
Joined
Apr 26, 2012
Messages
10,145
Location
18 miles from Markie and Nana.
Ok. If ignoring monetary considerations, I’d probably grab this limited ‘59 reissue “killer quilt” first:



And
then with the other hand, I’ll grab this one (including ALL considerations ;) ):



...but it’s a good thing I’m married ‘cause she has two hands!





And



Can I start adding neighbors?
 
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11top

Cousin Eddie's cousin
Joined
Apr 26, 2012
Messages
10,145
Location
18 miles from Markie and Nana.
My wife is my Broker of Record, all I know is "they got it covered." It was her Idea, not mine.

Tell her you want “agreed value” so that you don’t have to prove the value AT THE TIME OF LOSS. Agreed value takes all negotiation out of the equation because it’s CONTRACTUAL, not some unwritten word-of-mouth promise by the carrier or their representative. This becomes paramount if the market value exceeds replacement cost.
And simply having your instruments on a separate schedule doesn’t avoid “settlement negotiations” either unless it’s AGREED AMOUNT.
 

bodia

Authorities said.....best leave it.....unsolved
Joined
Jan 21, 2015
Messages
28,234
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Suburban Chicago
Yeah...but Westie’s are so HOT they are fireproof....right?
Well, if that's the case, then I don't have to worry about 2 guitars! Hmmmm, I guess I would grab this one since there are only 100 of the Dirty things floating around. Almost said ME-V, but I could grab one of the many WL versions that will be hitting the shelves next summer.


FYozoRD.jpg
 

veinbuster

Zombie Three, DFZ
Joined
Apr 26, 2012
Messages
13,242
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GTA or wandering aimlessly
Well, if that's the case, then I don't have to worry about 2 guitars! Hmmmm, I guess I would grab this one since there are only 100 of the Dirty things floating around. Almost said ME-V, but I could grab one of the many WL versions that will be hitting the shelves next summer.


FYozoRD.jpg
Two class act small runs. I’ll say it again: the best small runs they did on the core line.
 

veinbuster

Zombie Three, DFZ
Joined
Apr 26, 2012
Messages
13,242
Location
GTA or wandering aimlessly
Tell her you want “agreed value” so that you don’t have to prove the value AT THE TIME OF LOSS. Agreed value takes all negotiation out of the equation because it’s CONTRACTUAL, not some unwritten word-of-mouth promise by the carrier or their representative. This becomes paramount if the market value exceeds replacement cost.
And simply having your instruments on a separate schedule doesn’t avoid “settlement negotiations” either unless it’s AGREED AMOUNT.
Slightly off track, but do you have any thoughts on ‘agreed amount’ (per item), with a total loss cap? I’m working through this with my insurance to reduce the premium since a) odds of losing everything are small and b) if I did lose it all, I wouldn’t buy it all back.

I have very good coverage for the whole house and contents, but don’t like caps on some types of items.
 

11top

Cousin Eddie's cousin
Joined
Apr 26, 2012
Messages
10,145
Location
18 miles from Markie and Nana.
Slightly off track, but do you have any thoughts on ‘agreed amount’ (per item), with a total loss cap? I’m working through this with my insurance to reduce the premium since a) odds of losing everything are small and b) if I did lose it all, I wouldn’t buy it all back.

I have very good coverage for the whole house and contents, but don’t like caps on some types of items.

In the USA, I’ve never seen a carrier offer agreed amount with a total max cap. I’d be very surprised if you can get that, and if so, at a reasonable cost.
In the real world, “replacement cost” is OK, as long as your market value doesn’t exceed it, you’re willing to negotiate the settlement valuation with the carrier following your loss, and your homeowners deductible is ok with you. Private stock prices have increased dramatically so a current appraisal on hand and good photos stored off-premises (cloud?) are going to make the process easier.
My personal rule of thumb is to keep the higher valued and rarer items on a schedule and the balance under my homeowners personal property limit (replacement cost).

Also, FWIW, some carriers won’t offer “agreed amount” on a musical instrument form. I just went through this helping another forum buddy and discovered USAA won’t (unless you can get them to use a “fine arts” form which is automatically an agreed value form). Silly.
 

11top

Cousin Eddie's cousin
Joined
Apr 26, 2012
Messages
10,145
Location
18 miles from Markie and Nana.
Slightly off track, but do you have any thoughts on ‘agreed amount’ (per item), with a total loss cap? I’m working through this with my insurance to reduce the premium since a) odds of losing everything are small and b) if I did lose it all, I wouldn’t buy it all back.

I have very good coverage for the whole house and contents, but don’t like caps on some types of items.

Peter,
Under a standardized HO policy, the types of property limited in amount (cap) for theft are specified as money, silverware, gold, jewelry, etc. Musical equipment is not limited that way. However, beware of the “business use” exclusion. The latest ISO HO form defines business (as opposed to hobby) as grossing $2,000 or more in a year. Anybody on this forum ever sell a guitar for $2,000 or more? :eek:
 
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