Insure your McIntosh?

Searing75

Active Member
So, I am getting nervous that my MC2105 and C32 may be stolen or damaged. Anyone have insurance on their McIntosh stuff?
 
I assumed it was covered under my home owners insurance (assuming i could prove it was here in the first place.)
If i had a full Mac system i might consult with my broker and see if i required additional insurance. Maybe i'm naive. Being how few would know i have it i wouldn't think my house much of a target.
 
Well here in New Zealand it is included in the house and contents insurance, not sure if its the same in the USA or not...
I have pictures and the serial numbers written down which is all the insurance company needs and we're good to go....
 
I just looked into this recently - the situation with vintage equipment is this: If it's damaged/stolen/destroyed regular homeowners will only reimburse to get modern replacements. You will not get market value for your older valuable Mc. For this you need to get a special rider with a list of values provided by a professional appraiser. In my case Audio Classics did this for me. I emailed it along with the pictures to my agent. Total value of around $22K insured cost $75/year.

I only insured the McIntosh because of their age therefore values are more likely to be in dispute in case of a loss. Most of my speakers are modern so not necessary to insure with separate rider according to the agent; same for the Yamaha CD players, and other electronics which aren't particularly valuable - - all of which are easily replaceable with modern gear.
 
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This is worth speaking with your agent about. Most standard reimbursements are, as stated above, against modern replacement value - often "modern equivalent," which can be fraught with creative interpretations - but you usually have the ability to do an appraised value as line-item addons. I didn't know Audio Classics did this as a service, and may be looking into that myself soon.

It is worth noting that a lot of these homeowner/rental property policies seem to cover a big number in terms of total value, providing a false sense of security. However, in the fine print you'll often there are specific limits per-item or per-category. The category of firearms may have a total of $2000, for example, despite your policy being order(s) of magnitude higher. I've found my insurer in the category of 'electronics' caps individual items at $1,000. Doesn't matter if your insurance is for $2 mil, they're only giving you $1k for each piece unless you go line item.

Basically, if you have expensive hobbies - particularly with individual items that break 4 figures - you need to have a frank discussion with your agent to avoid surprises.
 
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.
 
The video is great for proof of ownership but it won't be of much help in being reimbursed market value if say, your mint $3,500 MC240 goes up in smoke. You need an appraisal and a rider.

It's not much different than classic car insurance for say, a 1967 Corvette L88 427/435 hp if you want it insured for $400K.
 
The video is great for proof of ownership but it won't be of much help in being reimbursed market value if say, your mint $3,500 MC240 goes up in smoke. You need an appraisal and a rider.

It's not much different than classic car insurance for say, a 1967 Corvette L88 427/435 hp if you want it insured for $400K.
Actually, after reading both your posts, I think Eric, you make some very good points. I am going to ring my insurance company and talk to someone about this. They assure me they will pay "replacement value", which is fine for the MC452, C48 and MEN220, but what about the MR78, MR80, C33, MC2205?
I don't use a broker, costs too much here. There aren't actually that many insurance companies in NZ, so choices are limited....
But thanks for your angle, I'm calling today!!
 
Actually, after reading both your posts, I think Eric, you make some very good points. I am going to ring my insurance company and talk to someone about this. They assure me they will pay "replacement value", which is fine for the MC452, C48 and MEN220, but what about the MR78, MR80, C33, MC2205?
I don't use a broker, costs too much here. There aren't actually that many insurance companies in NZ, so choices are limited....
But thanks for your angle, I'm calling today!!

Good idea Kevin and I would also reiterate the values of the newer units just to be on the safe side. I learned a long time ago never to take anything for granted when it comes to insurance coverage.
 
Excellent thread and one that we should all take heed of. I'm working on getting appraisals for my watches right now and will be making sure to add my stereo gear to my todo list tomorrow!! A good friends house was robbed a couple of weeks ago and his watch was taken and thankfully he was covered and just bought himself a new Rolex GMT with the payout. :beatnik:
 
You can buy specific value insurance on specific pieces. My wife has a couple of unusual antique rings that we have separately stated on the homeowner's policy. We had to go to a jeweler and get written appraisals. Several years ago I was heavy into Digital Photography (several Canon "L" series lenses, etc., as well as bodies and other "accessories"). I had to provide serial numbers and sales receipts to get the coverage.
Recently I talked with my agent about the 19 McIntosh units I have. The agent said I would need (1) a list by serial number, (2) evidence of value (i.e., Audio Classics, Tom Manley, etc.), and (3) a signed statement by a "qualified" person familiar with McIntosh verifying that the units I have are essentially the same as the units shown in the evidence of value.
We have all heard the stories of specific items being insured by specific amounts. For many years Lloyds of London was the main company in this market. However, with proper documentation you can add it to you homeowner's policy. Just be sure you are insuring it for "specific value" (the the need for evidence of value and signed statement by qualified individual that the units are worth the specific value).
The biggest problem with McIntosh is that some of their units (i.e., MC275) sell for more than ten times their original cost. So we must provide the insurance company evidence of full current value.
I think some of us may be old enough to have heard the story about Betty Grable's legs being insured for $1,000,000.
Thanks,
Jim
 
I have insure bicycles up to $10k. They were covered on a rider. My concern was that someone would break into my house for the sole purpose of stealing my bicycles.

Ten thousand was not enough to cover their replacement, but it would help me refurbish my loss.

I have covered audio gear since then on home owners insurance. It is quite simple. You are already covered for fire damage, and you pay an extra amount per month for theft or other issues. The amount you pay extra will likely cover any issues you have.
 
Excellent thread and one that we should all take heed of. I'm working on getting appraisals for my watches right now and will be making sure to add my stereo gear to my todo list tomorrow!! A good friends house was robbed a couple of weeks ago and his watch was taken and thankfully he was covered and just bought himself a new Rolex GMT with the payout. :beatnik:

Don, on the watches you might try Jewelers Mutual....no affil but a reputable company :) Al
 
I increased the the contents value on my home insurance policy just for that reason when I started up grading my system 9 years ago to cover such an issue. I had the local Mac dealer give me an itemized list with the retail value for replacements of the entire system including everything from A to Z.
 
Insurance is always a gamble going up against an actuaries estimate. Is the piece of mind worth the extra riders? If you are not in a flood plane or area frequented by wild fires is it worth it?

Besides death and taxes nothing is positive. When I was younger the risk seemed untenable. Healthcare nowdays seems more of a risk than casualty or theft. It took me a Uhaul trailer, furniture dollies, and hours to haul in my mono blocks and 365 pound Mcintosh speakersin the house .

I’d love to have return on invested dollars versus extra I paid to insurance as a younger person and is lost forever. .

I am putting my youngest through college in an actuary program. There is gold in that line of business. It took 30 minutes to explain that to her. She researched and quickly enrolled.

Before signing up for extra insurance Time Value of money calculator can be a godsend.
 
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.

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.
 
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!

The additional rider for $22K agreed value cost me $75/year.

May be time to shop around for another carrier.
 
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