Insurance Estimate Guidelines

Stefan Brodsky

Senior Member
We switched insurance companies recently and they are offering a rider to our homeowners policy which will cover my drums. I'm trying to get a decent replacement value number, which is representative of what they are worth. They are a 2009 set of Yamaha Maple Custom Absolute Nouveaus in a cherrywood finish. 20 x 16 kick, 7.5 x 10, 9 x 12 racks and 14 x 14 FT. Bought new in 2010. Excellent condition. These were hand made by Sakae in Osaka, Japan, and are discontinued, as Yamaha doesn't offer the Nouveaus nor do they work with Sakae any longer. I'm thinking around $2500 (US) is a fair market estimate, but I'm not sure. Am I in the ballpark or do I need to go higher, given this particular model and manufacturer?
 

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Jeremy Bender

Platinum Member
To replace your kit in case of complete loss I'd say that should cover it. Don't forget to add up your cymbals and hardware along with it. It' surprising how fast it all adds up when you think about having to go out tomorrow and buy everything all over again.
 
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lrod1707

Member
We switched insurance companies recently and they are offering a rider to our homeowners policy which will cover my drums. I'm trying to get a decent replacement value number, which is representative of what they are worth. They are a 2009 set of Yamaha Maple Custom Absolute Nouveaus in a cherrywood finish. 20 x 16 kick, 7.5 x 10, 9 x 12 racks and 14 x 14 FT. Bought new in 2010. Excellent condition. These were hand made by Sakae in Osaka, Japan, and are discontinued, as Yamaha doesn't offer the Nouveaus nor do they work with Sakae any longer. I'm thinking around $2500 (US) is a fair market estimate, but I'm not sure. Am I in the ballpark or do I need to go higher, given this particular model and manufacturer?
Pardon my ignorance, but doesn't homeowners insurance already have content insurance included? The reason I ask is because my policy covers my house and includes all the contents in the house. I'd like to know because I just bought my house and that was automatic.
 

alparrott

Platinum Member
Pardon my ignorance, but doesn't homeowners insurance already have content insurance included? The reason I ask is because my policy covers my house and includes all the contents in the house. I'd like to know because I just bought my house and that was automatic.

Certain policies cover items specifically, whether in or out of the house. I have valuable property insurance on my drumsets that covers anything that happens to them on the road or at gigs. Homeowners insurance wouldn't cover that sort of situation.
 

lrod1707

Member
Got it! Thank you for the clarification. Now I know what to look for when shopping for a policy next year. As a new homeowner, you go with what your lender recommends but then later on, you figure out what other options exist.
 

GruntersDad

Administrator - Mayor
Staff member
I would find out what the rider would cost to replace the set new, or newer. Not just the older, current set.
 

Hollywood Jim

Platinum Member
A typical home owners insurance policy will probably cover a drum set just like it would probably cover a piano. At home loss only. So you claim a $1000 or $2000 loss they would probably pay that. HOWEVER, if you had a fire, for instance, and you then claimed $5000 for one drum set, or you claimed $20,000 for four drum sets, I assure you, you won't get it. You need a rider for special stuff like that. And, you will pay a higher rate for your special rider. Call your insurance agent and ask.


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