A slightly different insurance question.

Kalimna

Reading the 'what would you save in a fire' thread, a thought popped into my head that had been there before but I had forgotten about.
Whilst it is relatively easy to set an insurance value for the gear we own, how does one measure self-built instruments in terms of insurance value?
A partscaster is perhaps easier as the individual 'parts' will have a defined value, but what about those guitars we build for ourselves from blocks of wood etc? Would you factor in the time taken to build? The perceived cost had it been made by a luthier?
Rarity - well there's only ever going to be a single item. How would you prove which pickups/woods/finish were used?

I say this as someone who has several home-built instruments now and obviously have to consider insurance at some point....

Adam

skunkwerx

No idea! 

Allianz say to call them for queries so I bet they’d be able to tell you what their parameters are. 

I got a feeling they’d value a self build/diy regardless of its actual quality less than if it was built by a luthier who does it for a living. But I dunno. 

Maybe they would just ask to see/go off receipts or cost for each item used, so timber, hardware etc and value it at the combined total. 

Which means if they pay out, you could buy all the bits again and build yourself a guitar to the same value. 
Though inflation.... lol. 

Be interesting to know though!

Phil_aka_Pip

"If you're not sure if it's a 'material fact', tell us about it anyway and let us decide if it's a 'material fact'."

In other words, "We can always find reasons to hike your premium from anything you tell us"

skunkwerx

Haha true that. 

Though I did an online quote with Allianz last night for 3 guitars totalling £1650 (so not exactly vintage priced eh!), just for premises/home cover. No vehicle cover or public liability needed as I dont leave the house. 

£3 a month. Which is pretty banging.