AUdIoCoUrSeS
Joined: 31 Oct 2002
Posts: 2014
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| Insurance for equipment |
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What are your feelings regarding equipment insurance, do you have any, think it's important? Why?
Good info only, no insurance spammers.
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It's all in the ears. - Learn the concepts not the software.
Audio Courses is a way into the music business for you
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Tue Jul 19, 2005 2:45 am |
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conquistadore
Forum Moderator
Joined: 03 Aug 2004
Posts: 514
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I think insurance is important. You may never know when somethings going to catch fire and burn down everything else!
Also it can be an advantage in doing bussiness, you can always tell your client that you are backed by insurance so if anything does go wrong (due to some disaster) the insurance will be there to cover it. The client will definately be reassured, especially in a Live Sound situation... |
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Tue Jul 19, 2005 3:11 am |
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AUdIoCoUrSeS
Joined: 31 Oct 2002
Posts: 2014
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| musical equipment insurance |
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Some good points there...
Anyone with any experience of purchasing musical equipment insurance?
_________________
It's all in the ears. - Learn the concepts not the software.
Audio Courses is a way into the music business for you
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Tue Jul 19, 2005 4:05 pm |
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MIKE_NOSTRADAMUS
Joined: 08 Jan 2003
Posts: 163
Location: Northfork Recording Studios |
| insurance |
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I have no choice but to have insurance because I deal a lot with the Public.
I'm covered for liability and theft on seperate insurance because my regular house insurance won't cover.If someone happens to fall off my porch or trips in the stairway I'm covered.For some reason insurance companies tend to frown at anything related to the music industry.They tend to think that we're all a bunch of party animals that are out to destroy everything.
My insurance costs are high because of problems they've encountered in other cities.
My insurance company would not cover if I did'nt have an alarm system.
I prefer to have insurance because I've seen another studio have everything robbed and he was left to start from nothing again.
It all depends on what you have invested if it was just a $5000 investment probably not.But with $150,000 in building and another $80,000 in equipment I feel a little more secure with insurance.
Mike
Mike |
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Sun Jul 24, 2005 7:03 pm |
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Franklyn
Joined: 06 Jun 2005
Posts: 1
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| insurance |
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 to play live you have to by law have sufficient public liability insurance to cover your backside, as for instruments PA , micsw, guitars , modules reverb, sound canvass, when I added up my total gig equipment it came to more than £12,000, so I got my transport alarmed , with am imobiliser etc, then got new for old cover in transit or overnight unattended vehicle and it came to around £300, (you could say £100 per £4,000, worth of cover ) I sleep quite well, speak to Mark Hopkinson Hencilla Canworth Tel: 020 8686 5050, Equity members get a 10% discount. dont think do it !!! |
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Mon Jul 25, 2005 6:27 am |
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AUdIoCoUrSeS
Joined: 31 Oct 2002
Posts: 2014
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| Insurance prices |
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Good advise here Franklyn, for those UK peoples...
And canadian prices Mike?
_________________
It's all in the ears. - Learn the concepts not the software.
Audio Courses is a way into the music business for you
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Mon Jul 25, 2005 8:53 am |
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MIKE_NOSTRADAMUS
Joined: 08 Jan 2003
Posts: 163
Location: Northfork Recording Studios |
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Yes I forgot my prices were Canadian.I pay a total of $2400 dollars a year on insurance that covers the Studio and equipment.
Plus I pay $40 a month for the security system that works with cell phone teck.The thieifs are pretty smart around here they cut the phone wires first before entering.With cell phones there are no wires to cut once a breakin is sensed the cell phone sends a command via radio tower which was pretty impressive when it was tested and actually set the alarm off when an actual breakin was happening .Whithin minutes the police arrived and nabbed the wannabee thieves running away from the scene.The cell phone technology is worth $400.00 Canadian with the initial investment but well worth it.It also has 48 hr battery backup in case the power went out.In any case it will send a signal of a breakin,fire,high water alarms.
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Mon Jul 25, 2005 12:50 pm |
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conquistadore
Forum Moderator
Joined: 03 Aug 2004
Posts: 514
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| flooded and insured |
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Hi!
Im sure most of you must have read about the floods in Mumbai. Well quite a few studios here have been damaged (especially the ones on the ground floor), especially the big ones where many movie post work is done. Now this is where all the studio owners will be thanking the Gods for insurance! Insurance companies have gone under a loss of 80,000,000 rupees, which is roughly around 200,000$ (but a lot in Indian currency). Who would have expected Mumbai to get flooded? |
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Thu Aug 04, 2005 8:51 am |
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hobbesblb
Family Friend
Joined: 07 Mar 2003
Posts: 127
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I think each person needs to kind of calculate how valuable their gear is. Not necessarily in terms of how much it cost, but rather how attached it is to their livelyhood. I have a small home studio, with some very decent gear. Would I insure it? No, because I don't make my living from that gear, I am a live engineer, and all of that gear is provided by whoever sets up the show, I just use what I have at hand, (occasionally bringing along a bit of my own), and when times are really good, they actually meet the rider requirements.
But, if I was making my living from my studio gear, then I would evaluate how grevious losing everything would be upon my ability to live, pay bills, and stay in business. Insurance is really for those things, because if you think about it, insurance companies are not in business to lose money, so they take in more than they spend. So, how many toys could I buy, versus the security of knowing that my toys will be replaced if stolen.
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Kindest Regards,
Benjamin L. Backus
http://www.benjaminlbackus.com |
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Sun Aug 07, 2005 1:05 am |
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