Replacement cost?For insurance reasons.

James Davis · From: Texas, USA

I worry about my Sho~Bud getting stolen or damaged.Do any of you carry insurance on these rare vintage steels?I would never be able to replace my D-10 Pro 2 Costom.It's in my nature to ask what if I had to replace it?What kind of information will they need from me to get it insured!What are the main points of value?Year made?Color?Features?Condition?How does it all add up to a final replacement cost?You folk's have been helping out on all kinds of questions in this forum.Please shed somelight on this for me!Thanks

James Davis
Beaumont Texas
Sho~Bud D10 Pro 2 Costom, Green or faded Blue
Music Man RD 110 Fifty
15 inch ext cab w/ Blk Widow. Sho~Bud Vol Ped.

Gerald Pierce · From: Maydelle, Republic of Texas

Having had a few musical items stolen in the past and having been an independent insurance adjuster at one time (storm adjuster, worked many different States), I can lend a bit of info. Homeowner's policies may or may not cover the guitar.

If you can get a quote from the manufacturer for a new one like it, that's the thing to do. In the case of companies that no longer are in business, or for items they no longer make, you'll need to document the replacement cost for your guitar.

For items that couldn't be replaced by a new one of "like kind and quality", I often used classified ads in the paper or magazines for the same item (or as near the same as could be found) to determine the actual cash value (which can easily be more than the original cost). For such covered items, "actual cash value" is considered the replacement cost and is generally what the insurance companies paid.

I'd photo or video tape the guitar from several angles, then I'd search the internet for ads for guitars like (or as near as you can find) your guitar. Print these out and get copies to your agent while keeping other copies in a safe place (safe deposit box, fireproof safe etc.) Sometimes (depending on the State) you can arrange to set an amount of coverage for the guitar under your homeowners policy.

The details vary, depending on the State you live in and the type of homeowners policy (they're not all the same). As I remember, some policies limited the amount they'd pay on such items to 4 times the original cost, which in some cases, wouldn't be enough to cover replacement (for instance, your mint condition Bigsby pedal steel was stolen).

I also recall that some homeowners polices have a preset limit for musical equipment and additional coverage might be necessary (or a separate policy for your musical equipment. Check with your agent. Will your homeowners policy pay if it's stolen from your car? or your gig? It might be looked at by the insurance company as "business equipment" (is it a tool of your trade or a "toy" or hobby item?), which usually has preset limits under homeowners policies. If your agent can't give you the answers you want (or the coverage), shop around. No offense to any agents out there, but I found that lots of them don't know coverages very well.

Main point; document what you have and what it would cost to replace it. Make sure you know what the policy will cover and what it won't.

If the guitar is covered, you may or may not have a claim for damage (depends on how it got damaged and where it was when the damage occured).

I've been out of the adjusting business for over 5 years and some policy details may have changed a bit, but it's probably about like it was then.

By the way, I grew up in Beaumont and lived there off and on until 1992.

James Davis · From: Texas, USA

Thanks Greald! Excellent info there. If you lived in the Golden Triangle, Did you know Jackie Roy? He was the first owner of my Sho~Bud.I heard he was one of the great players in this aera.I was wondering if any of our Southeast Texas Steelers my have known him?If he may have recorded for anyone? Would you know someone who could do an appraisal for me?Your idea was great!I'll get started on that.

Gerald Pierce · From: Maydelle, Republic of Texas

I didn't know Jackie, but worked with a lot of the area pickers in the 70's and 80's in the local honky-tonks.

If you want an appraisal, you might check with Terry Simpson at A & S Music in Nederland. He's a steel player and is either the owner or co-owner of the business. Just remember that if you get an appraisal tomorrow, and your guitar is stolen a couple of years or more down the road, it may then be worth more than when the appraisal was made. From my experience as an adjuster, I'd think that copies of ebay auction results or ads by established steel guitar dealers would be sufficient to document the actual cash value.

Good luck.

Jeff Lampert · From: queens, new york city

James,

Check with Ricky Davis. He is on this forum and is a professional player and restorer of vintage Sho-Bud pedal steels. He might be willing for a nominal fee to prepare a professional appraisal of your guitar for insurance purposes. You should first check with your insurance company to find out whether they would find such an appraisal acceptable as proof of replacement value, assuming of course that you do have coverage. And of course check with Ricky to see if he would do this.

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[url=http://www.mightyfinemusic.com/jeff's_jazz.htm]Jeff's Jazz[/url]

George Redmon · From: Muskegon & Detroit Michigan.

Gerald, what is an "Overland Rider"? my insurance company made me get one for my equipment, all i know is it's expensive, and i live in a very low crime area?

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Whitney Single 12 8FL & 5 KN,keyless, dual changers Extended C6th, Webb Amp, Line6 PodXT, Goodrich Curly Chalker Volume Pedal, Match Bro, BJS Bar..I was keyless....when keyless wasn't cool....

Kevin Raymer · From: Chalybeate, Kentucky, USA

Check with the Gecko !!!

They insure everything else...

It's hard to tell the difference between Insurance companies and reptiles anyway.

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