Insure your McIntosh?

[SaturationPt]

Yours is much cheaper than my quote.

They were very high on my boat insurance also, I had to go elsewhere. But on house and car they're very competitive (and so far the claim service has been excellent).

Insurance is one of those things that seems to require occasionally changing carriers to save money, loyalty discounts haven't been worth much.

 

[welcomdmat]

I don't see my MC500, MC2300s, or MC2600s going anywhere - especially not with two 100+ lb shepherds on guard ...

Plus, shepherd hair is a time consuming piece to clean up

 

[dfunghi]

When I contacted our insurance agent we were told we had $52K limit on "possessions" whether stolen or destroyed and whether a camera, stereo or dishes, and they did not offer a policy for audio gear the way they do for classic cars. I think the best answer is twofold. Have an appraisal done and make a video. At least then you have some evidence of the value when you go to battle.

The nice thing about the 2205 is it is likely too heavy for a common thief to carry off. I do worry every time we take an extended vacation, especially in summer, as we live in fire prone California.

With the advent of and reemergence of classic audio gear being so widely sold it seems like some insurer should be showing up at the trade shows soon selling policies for exactly this. I know there is insurance you can buy for musical instruments, maybe they will head into this area too? My wife's piano has separate insurance and it is pretty cheap, I think under $100 a year and covers replacement of her piano exactly. A Baby Grand Kawai valued under $10K but not by much. OTOH my (Yamaha) Flute is not insured and I am encouraged to have it stolen whenever I play it.

62caddy is correct that the policy, even with an explicit rider if available, should not be expensive and perhaps there was a 10% deductible and not a 10% per year premium charge?

We have AAA homeowners along with our autos.

 

[Archguy]

I looked into this also when I was looking around at my collection, realizing how much value it has.

As SilverT mentioned above, it doesn't matter how much you have in coverage for your house and contents, there are specific limits for electronics. Mine is as SilverT's: $1,000. This is not per item, it's per occurrence, and there's a deductible.

Wow, that's sobering. $1000 per occurrence is useless. My own premiums have skyrocketed in the past decade (though I've never made a claim in my life) and I let the (USAA) agent talk me into switching my deductible from $1000 to 1% of my home value. It's essentially catastrophic insurance now yet costs almost twice what I paid for the $1000/deductible coverage a few years ago. When I ask, USAA blames natural disasters (Gulf Coast & Calif). I really need to start shopping around I guess.

So my expensive replacement-value coverage for my house and contents will reimburse my loss of all electronics with a check for $750 ($1,000 - $250 deductible).

Then I had her quote scheduled coverage for the stereo equipment (as we do with jewelry and a classic car). The coverage was something like 10% of the value/year, or every ten years I would be re-buying the entire insured collection! Unbelievable!

So there are the dogs, the teenagers, the neighbors, firearms, the alarm system, and other deterrents, ... if the house burns then I guess I lose but hopefully I'm safe from a catastrophic burglary and I'm NOT interested in the insurance extortion.

Jeez. I think having a 100+ lb amp is the best solution. Though I can imagine them making you cart the stuff out to their vehicle at gunpoint. I've seen the wrong end of a gun too many times already in this life. I'll just claim back issues. I'd better hide my 500-lb capacity dollies.

 

[jlovda]

When I ask, USAA blames natural disasters (Gulf Coast & Calif). I really need to start shopping around I guess.

Jeez. I think having a 100+ lb amp is the best solution. Though I can imagine them making you cart the stuff out to their vehicle at gunpoint. I've seen the wrong end of a gun too many times already in this life. I'll just claim back issues. I'd better hide my 500-lb capacity dollies.

According to the USAA TV commercials, I thought you had to keep them for life (or was that another military oriented insurer)?

In Richmond, VA are home invasions at gunpoint a common occurrence?

 

[Archguy]

Not sure what constitutes 'common' but I do read about them from time to time. Same as most everywhere that has a criminal contingent in the population. Nonetheless I live slightly west of town and this is the first place I've lived since college where I regularly meet people who've never been a crime victim. In NYC we stopped reporting violent felonies to the police after awhile, but I've veered far enough off topic now.

I don't watch television so I don't know anything about USAA commercials, but what do you mean 'have to keep them for life'? You can switch in and out like any insurer. Same with NavyFed afaik. Used to be USAA was limited to officers and their immediate families, and the risk profile was vastly better hence the rates & service were better too. But the 'growth at all costs' mantra took hold among USAA mgmt as it has at most places and--though their overall revenues are much higher now--with essentially 'open enrollment' USAA isn't much different from any other insurer imho. There are still people who swear by them though. I no longer know why.

 

[Ricktptman]

Very good advice SilverT.^^^^

Just a note about insurance. A quick uncut video of walking around the house from your phone saved on a thumb drive is a quick and easy way for proof of ownership for your various collections should some misfortune happen.

Amen to that. I've had protracted discussions with my Agent about this and they know that I'm deep into Vintage gear. And I have riders for a LOT of stuff. They say I'm covered. But....there's a pause before they say it. I have serial numbers cataloged and video as well as photographic evidence as proof of ownership. Again, to my way of thinking, too much sounds just about right.....

 

[62caddy]

Again, to my way of thinking, too much sounds just about right.....

No truer words were never spoken.

 

[Tomster]

Very helpful thread. What I've learned is you need to make sure you are speaking to a knowledgable agent. I asked my agent about this last year and got a standard "you are covered" sort of answer. But now I'm sure I'm not! At least, not to the level I desire. Thanks.

 

[kaplang]

I was also recently concerned if my equipment was insured since I have more then what most would have. Though my home owners insurance policy wouldn’t cover it and I would have to insure the stuff separately. I was wrong. It’s all covered under my policy minus the deductible. My agent asked me to send him a list of what I have with pictures and serial numbers for him to keep with my file so I did.

 

[62caddy]

If your equipment is relatively modern, you're probably okay. If vintage, chances are great they will not reimburse for market value. This is all the more a problem where condition can weigh heavily upon value.

 

[SilverTpt999]

I was also recently concerned if my equipment was insured since I have more then what most would have...

In fairness - and it's worth noting for everyone - if you own a piece of McIntosh equipment you already quality as having 'more [value in audio equipment/electronics] than most would have'. By being part of this community, you are well outside the norm, and should have this discussion with your insurance.

As far as reimbursement value, most policies will allow either a line-item or stated-value amount. Sometimes this costs more, sometimes you need to have a discussion with your agent and/or the underwriter. Tracking prices over time at various places like the 'Bay, here, AudioClassics, etc. can greatly help your case. The back and forth can be a little exasperating, and last time I had to provide more pictures than I thought reasonable, but being persistent has always been successful in my experience - even for the vintage tube gear.

 

[kaplang]

In fairness - and it's worth noting for everyone - if you own a piece of McIntosh equipment you already quality as having 'more [value in audio equipment/electronics] than most would have'. By being part of this community, you are well outside the norm, and should have this discussion with your insurance.

As far as reimbursement value, most policies will allow either a line-item or stated-value amount. Sometimes this costs more, sometimes you need to have a discussion with your agent and/or the underwriter. Tracking prices over time at various places like the 'Bay, here, AudioClassics, etc. can greatly help your case. The back and forth can be a little exasperating, and last time I had to provide more pictures than I thought reasonable, but being persistent has always been successful in my experience - even for the vintage tube gear.

My collection consists of some Mcintosh including an MX110 , C26 and MC225. Also an ST70 a few Marantz and a few others. I submitted the current high selling value of everything I own using EBay sold pricing to my agent and as I said it’s all covered under my home owners policy. I know their is a value that I could reach that will take me out of the policy but I’m not their yet