Personal property ins.

[dutchev]

We have been full-timing for 10yrs and for the first time almost lost everything in a wildfire. We thankfully survived it all with no damage. We are with Progressive and have 40,000 on personal contents. The day after we wanted to check our coverage and what a surprise. We are musicians and have about 10,000 dollars in musical equipment. we find out there are limits on certain things such as musical equiment and other electronics. that is set at 3,000. we need to find an answer to this insurance problem. Any ideas

[Rice]

bob213 wrote:
Buy a rider policy or umbrella policy to cover your musical equipment.

An umbrella policy increases the underlying policy limits for liability coverage (i.e., bodily injury or property damage that you cause). It won't increase the coverage for loss of personal property. To have that covered, you have to get valuable personal property coverage, and schedule the items individually. I had to provide a receipt for the property I scheduled, and the yearly premium is 1% of the item's value.

Also, speaking of umbrella policies, most people don't realize that most standard umbrella policies don't increase limits for uninsured/underinsured motorist coverage. You have to buy "excess uninsured/underinsured motorist coverage" for that, and I think it may not be available in all states.

[monkey44]

Just while we're on this topic, any of you with expensive computer set-ups might ask your agent as well. And photography equipment. Some of that electronic gear gets quite expensive, and if it's excluded, you should be aware even if you choose not to 'rider it'...

[Lwiddis]

Better answers here than you got on your post of 9/1

[guidry]

If you belong to a special musicians FB group ask them. Usually they have great information that can help.

[IDman]

Instead of buying insurance "over the phone" and getting a "one size fits all" policy, you need to get a professional insurance agent that represents several companies. Sit down with the agent and tell them what you want and need. You can insure anything if you want to pay the premium!

[RetiredRealtorR]

Yes, riders are necessary for such items as musical instruments, collections, jewelry, artwork, and so forth. Ask your agent. They're readily available.

[ItsyRV]

Did you ask your current insurance company for the cost to increase or add additional coverage? Just like with a home, you may be able to get a musical instrument rider or addendum that increases (for a cost) the dollar amount they will cover. Unless they already told you they absolutely will not increase the dollar amount no matter what you pay, most standard policy limits are just routine but can be increased.

[bob213]

Buy a rider policy or umbrella policy to cover your musical equipment.
Check other insurance companies that aren't so progressive...