On the Eleveth Day of Christmas – Musical Instruments Coverage

New Mexico homeowners insurance“On the eleventh day of Christmas my true love gave to me eleven pipers piping, ten lords a leaping, nine ladies dancing, eight maids a milking, seven swans a swimming, six geese a laying, five gold rings, four collie birds, three French hens, two turtle doves, and a partridge in a pear tree.”
All these musical instruments around sure aren’t cheap. I don’t know anybody today who plays a pipe, but there sure are a lot of people who play trumpets, horns, flutes, guitars, and similar instruments. The standard homeowner’s policy does provide coverage for most of these items, but not all of them.
Coverage for musical instruments in found in coverage C – Personal Property. It provides named perils coverage for all property belonging to residents of the premises up to the limit specified on the declarations page. However, this limit is further reduced for some items including:
• Money, coins, or precious metals – limited to two hundred dollars.
• Securities, manuscripts and other valuable property – limited to two hundred dollars.
• Watercraft, including trailers and equipment – limited to one thousand dollars..
• Trailers – limited to one thousand dollars.
• Musical instruments – limited to one thousand dollars.
• Jewelry, watches, furs and semi-precious stones – limited to one thousand dollars.
• Firearms – limited to one thousand dollars.
• Silverware, gold ware, or pewter ware – limited to two thousand five hundred dollars.
• Property used for business purposes – not covered.
As you can see all these pipes are only covered up to one thousand dollars. Now, most people don’t have ten musical instruments, but rather one or two. If these musical instruments fall within the one thousand dollar limit then you are fine. For example, you could own a guitar that was valued at five hundred dollars and a trumpet that was valued at three hundred fifty dollars and still fall well within the thousand dollar limit.
There are some musical instruments that are much more valuable than one thousand dollars. Any high end instrument be it a trumpet, or guitar, or a violin will probably have a value in excess of one thousand dollars. If you fall into this category make sure you have a conversation with your . Being property and protected is important.

2 Responses to “On the Eleveth Day of Christmas – Musical Instruments Coverage”

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  1. Having read this I believed it was very enlightening. I appreciate you
    spending some time and energy to put this content together.

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  2. Jaclyn F. says:

    Excellent! This was a huge help when looking for insurance coverage.

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