Insurance quandary

[Sapphire Disco]

I'm just about to renew my PLI which is not a problem, it would be silly not to have as it's not expensive, I can't make my mind up whether to include equipment insurance with it as I have in the past and never used it.

Has anyone on here been glad that they've had equipment insurance and made a successful claim, do many of you have equipment insurance ?
I don't do that many gigs and my equipment is locked up securely when I'm not using it.

[Megamix]

I don't have equipment insurance - and haven't for 10 years - so have saved enough to replace everything by now!
Have had bad experience with insurance companies paying out (Pets in particular!) - it’s a gamble which has paid out - but obviously I still insure for other things which i perceive as a greater risk - burglary, car, etc.

[DAVESOUNDS SERVICES]

I Used to have equipment insurance (with DJ Guard i think )
but as ive got that many rigs it got expensive
So now ive opted for 10 million PLI only
As i consider my gear to have "Paid for istelf" in 12 months
i reason if i lose it due to my own neglect then so be it

Cheers

[simon1969]

My insurance includes equipment cover originally got insurance because I was lending my gear to people and P.L.I was included.
Iam right in thinking most people on here have just got P.L.I insurance then?
Consider what you would do if your equipment was stolen from home/venue or vehicle your gonna be stuffed if you havn't got any other rigs!!!

[Shaun]

I don't do that many gigs and my equipment is locked up securely when I'm not using it.

If the unthinkable happens and you have the finances to replace all the equipment then the gamble might be worth it. I just feel that little bit more secure knowing that I'm insured.

[sleah]

Consider what you would do if your equipment was stolen from home/venue or vehicle your gonna be stuffed if you havn't got any other rigs!!!


If the unthinkable happens and you have the finances to replace all the equipment then the gamble might be worth it. I just feel that little bit more secure knowing that I'm insured.

Quite possibly a false sense of security:( :eek:

I only have PLI. I sat down and considered all the scenarios that might result in an insurance claim, the likely one's that is, such as leaving kit in a venue after a day time setup, leaving it in the van temporarily, someone stealing something while I was at the toilet/bar or poped out to the van, my garage being broken into and a couple of others I can't just remember.
None of these situations are covered by DJ Guard insurance.
Even gear in my garage, because it is not brick built, it's concrete sectional.
Gear in the van isn't covered as it's a ex-minibus panel van. It would only be covered if there are no windows and the rear is not accessible from the cab area blah blah.
Gear left away from home is not covered unless it is in somewhere like a lock-up- even then certain 'security' has to be in place, such as the building cannot be unattended.
Anything stolen at a gig isn't covered unless they use force.

Essentially, unless you pay a king's ransom for insurance, it is utterly worthless to you.:mad:

[CRAZY K]

Quite possibly a false sense of security:( :eek:

I only have PLI. I sat down and considered all the scenarios that might result in an insurance claim, the likely one's that is, such as leaving kit in a venue after a day time setup, leaving it in the van temporarily, someone stealing something while I was at the toilet/bar or poped out to the van, my garage being broken into and a couple of others I can't just remember.
None of these situations are covered by DJ Guard insurance.
Even gear in my garage, because it is not brick built, it's concrete sectional.
Gear in the van isn't covered as it's a ex-minibus panel van. It would only be covered if there are no windows and the rear is not accessible from the cab area blah blah.
Gear left away from home is not covered unless it is in somewhere like a lock-up- even then certain 'security' has to be in place, such as the building cannot be unattended.
Anything stolen at a gig isn't covered unless they use force.

Essentially, unless you pay a king's ransom for insurance, it is utterly worthless to you.:mad:

I agree Theft is not often covered but you havent thought of Fire, Burst Pipes or Tanks or ACCIDENTAL Damage including transit smash, rolling downstairs etc we have heard of a few on here.

Mind you Corabar Steve got paid out not so long ago for a Theft from his premises.;)

Im not saying I have a lot of things covered but the risks are there which ARE covered, you may need some Professional advice.

[Jonny Boy]

If the unthinkable happens and you have the finances to replace all the equipment then the gamble might be worth it. I just feel that little bit more secure knowing that I'm insured.

+1.
Plus the hire of gear is covered so I could carry on with shows if the worst did happen.
So long as you comply with the terms (especially re: equipment left in vehicles/vans) it's better than the alternative IMO.

I had 90% of my gear stolen in my first 4 months of trading.... DJ Guard replaced the all stolen gear with like-for-like and only the fact I hadn't photographed all the CDs I didn't have receipts for meant that all of them weren't replaced either. Live and learn.

Do be smart when insuring gear with proof of ownership/purchase of all items insured. Then, in worst cases, the insurance is more likely to work for you.

IMO at least.

[Megamix]

I remember a phrase from a film where they asked what they actually got for their insurance money - "I sell peace of mind"

[DazzyD]

I insure everything with E&L. It's not a bad policy and doesn't cost the earth so I think the risk/benefit to cost ratio is worth it.

[Dynamic Entertainment]

Ive not had to use it but a friend of mine got a brand new Macbook and Serato Scratch Live when a punter destroyed his.