Musicians - Insure Those Vintage Instruments

As a college student, I had the good fortune to acquire a '64 Gibson SG guitar for a price that would have been a bargain for a cheap knock-off. Unfortunately, being a college student, I had neither the foresight or good sense to consider the need for adequate insurance and paid the price.

Some six months after acquiring the vintage guitar, it was stolen from the house I shared with several friends. I did manage to track down the thief through a few breaks, but lacking any concrete evidence I was stymied in pursuing legal action.

However, to add insult to injury, when I tried to make a claim through my parents' insurance - which did cover me - I learned the cold, hard facts about the insurance world. The instrument was covered, but as I lacked specific coverage for the guitar, it was not covered for its actual value. Although at the time the guitar was worth roughly $2000, the insurance company began their calculations with the item's initial cost. Additionally, their valuation took into account 30 years of depreciation despite the fact that the guitar's value had actual appreciated (and significantly).

I never recovered the instrument and the considerable sympathy I received from other musicians to whom I told the sad tale was of little consolation. If you are a musician, I cannot strongly advise you enough to make sure that your instruments and gear, vintage or not, is adequately covered by insurance. You'll be grateful for taking the time later should you ever suffer a similar misfortune.