Insurance for audiophiles

This is a really important and valuable thread. Maybe the moderators can put it at the top of the page?

I've recently upgraded, as well as inherited hundreds of books (where the opposite is true of audio gear--the resale value on these can be 50x the original price). So, this reminds me that I need to upgrade my policy. I have an Allstate renters policy.

Another issue is cables. Since no one in his right mind spends $500 on a set of interconnects (except, well, audiophiles), all that has to be documented, as well.

Matt

I have some coverage under fire insurance.

As Tvad also said: photo and receipts kept in another location are real smart in the event of a fire.

Get the "full replacement value" option. Especially if you have any beloved equipment more than a few years old.

about 10 years ago, I had a loss and had the offer of $1k in cash or $9k in equipment reimbursement (duh!)

Most homeowners and renters policy have a maximum limit for loss of electronics. This can be well below the value of a good rig. You will need to get a rider [schedule] for your equipment. Same as is required for jewelry, except that the premium charged for a stereo rider is much cheaper than for jewelry.

There were stories a while back (10n years) where many home owner policies were not covering CD's and folks were geting pissed off come flod,fire,or theft time.Compamies said there was no way to verify the actual value of the CD's taken and how many there etc.My stereo isn't cheap but even before astronomical run up for original LP's over past two or so years.I am in the process of going to get apartment insurance but if I have to I will get somebuddy to appraise my collection which includes a number of $100+ ,some $500 and even a few that are in the $1K range give or take a few hundred.Might have to hunt down where I can get policy,lay them out and take photos but my LP's and CD's dwarf $40K MSRP gear I have is worth because it's resale is a third of what I got it for and the LP's seem to need a tickertape to keep up with latets insane price on the ebay market.Need to protec t those more than anyuthing else.
Chazzbo

Hello Nick,

If you search in the discussion for "insurance" the first two threads give you more details that should be helpful to you. This has come up a few times lately and thought I would point you there instead of trying to repeat what has already been posted.

Thank you guys. I will give my home owner insurance agent a call.

IN my experience, at least in the US, the best (not cheapest) insurer is Chubb.

as unclejeff says, your stereo system is just one of the many items covered under your fire and theft policy.

you have two choices--full replacement value, or "market" value, with preiums varying accordingly.

if you own some expensive components which have poor resale value, you should consider replacement value.

This should be covered with your homeowner's polict or your renter's policy. Check with your agent.