Alembic Guitars Club
Alembic products => Alembic Basses & Guitars => Topic started by: hammer on June 11, 2013, 11:57:18 AM
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Now that I have 4 Alembics in the family as well as a couple of vintage Gibsons, I've finally decided that the net value of my gear requires something beyond my general homeowners insurance. I know this was covered a while ago, but I was wondering if those with experience with various companies are still recommending Heritage. I recently got a quote from them and it was approximately $1.00 for every $1,000 of instrument one had on hand.
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I just got a policy with Heritage (underwritten by The Hartford) and it cost me $250 per year for about 25K of coverage at replacement value so your figure is in line with mine. I've heard nothing but good things about them.
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I also insure my Alembics (and other gear) with Heritage. They are really fantastic. Their policies cover all kinds of loss or accidental damage, pretty much without exception. Sadly, I know from experience how they handle claims...which is very well, quickly and fairly.
Check out this thread: http://club.alembic.com/Images/393/130335.html?1336851919 (http://club.alembic.com/index.php?topic=918)
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I also use Heritage. As folks around here may remember, I recently had a flood in my basement studio which damaged one of my guitars. Heritage paid off extremely quickly and without any hassle once I emailed them a pic of the damaged instrument. They even paid extra for the damaged case (which I wasn't expecting)!
Bill, tgo
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I've been with Heritage now for well over 10 years. While I haven't had any claims, I do feel very secure. I will also say that my premiums seem to be less than the above quote, so I think being a long time customer with very little risk (despite a pretty decent gigging schedule) will help in the long run. Colleen is always very helpful.
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Thanks everyone. The word of all of you is good enough for me. Heritage it is.
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One of the first things I did when Diamond-Eyed Jack arrived was call Heritage!
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Another vote for Heritage. Think of it this way....with so many of us on Heritage, they are probably very familiar with the valuation of Alembic basses being a bit different from your typical Fender.
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Plus, Heritage lets the policy holder set the value of the insured instruments (within reason) Their philosophy is that since they charge base upon the insured value if you over-insure your stuff you are overpaying, and that's your problem.
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OK, All the good personal experiences here regarding Heritage have convinced me now as well . I spoke with Robert per phone and sent him my information . Thanks , you all helped me decide.
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And if there was any doubt, always insure for replacement value rather than their other options, agreed value or actual cash value. I insured everything at full retail as I'm sure everyone else here does. In the event of a loss, I'll likely get a replacement cheaper through a dealer, but insuring at retail covers things like manufacturer price increases, etc. I had to do some homework to make sure everything on my 1997 pre-mass production Warwick was covered. Everything on it that used to be standard fare is now custom shop stuff.
I'm curious, for any of you who have had a loss covered by Heritage, did they just write you a check up front or did they reimburse later?
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When I made my claim earlier this year, they sent me a check within 10 days as I recall.
Bill, tgo
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And every few years, you might want to call Mica to get an updated replacement value, which you should then use to update your policy.