Insuring Baby

[flaxattack]

my insurance company- met life -is telling me that in order to insure my bass that's in production, i will need to get an appraisal, otherwise thay will only insure the purchase price and not replacement costs.  
the msrp on my order is almost 12k including inlays. my net cost was significantly below that.
are there insurance companies out there for just musical intruments?- will an appraisal give me some rediculous resale price
can anyone help me?
thanks

[bsee]

I think Alembic can provide you a document identifying the list price of the instrument as an appraisal.  Insureance tends to vary across states, but I have specific 'replacement cost' insurance.  When my Modulus was stolen a bit over 10 years ago, they just had Modulus make me a new one with a few little upgrades at no cost to me.  
 
-Bob

[lowlife]

Replacement cost insurance is (for me) the best way to go.  But then I must get new estimates from the manufacturers each year.  If the replacement cost esclates, I need to advise my carrier to increase my coverage, and likewise if the replacement cost diminishes, so does my premium.  Naturally, Alembic's list price is often much higher than the discounts the dealers will offer, so I use Alembic's website for the list and manually calculate what the local dealer might charge.  For example, I recently purchased a 4-year old MK Standard for a great price of $2300.  Alembic's list for this is $6400 (it has LEDs). This base can be replaced for about $4000 (dealer's price), and that's what I've declared as the replacement cost for this instrument. A bit of work, but I happily do it every year.
 
Ellery (Lowlife)

[bsee]

And note that if you are an actual pro musician, the insurance of your gear is often handled differently than for the twice-a-month bar band crowd.