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Insurance for Hi-Fi / AV Systems?

Discussion in 'General Chat' started by Gorecon, May 10, 2005.

  1. Gorecon

    Gorecon
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    Having recently purchased a second hand Krell 300il for a sizeable amount of money. It left me wondering whether my house and content insurance was going to cover these in the event of theft / damage etc.
    Now I know it should be a case of contacting my current insurers and simply asking them. But I don’t want to call them get told yes it covers everything and then if I had to make a claim they laugh at me when I tell them the cost of my Hi-Fi /AV system.
    My actual hi-fi system is all second hand purchases but my AV system is all from new purchases.
    Do I tell them the original retail costs of the items. I mean how are they going to be able value a second hand Krell 300il?
    Does anyone have any experience of this? Are there companies that specialise in Hi-Fi /AV Systems insurance at a sensible premium?
    Am I getting too paranoid.
    Any advice would be great.
     
  2. Bristol Pete

    Bristol Pete
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  3. Gorecon

    Gorecon
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    Thanks Captain Pete,

    I'll read through all of the links later on (out of work hours!)

    :thumbsup:
     
  4. Astaroth

    Astaroth
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    (1) Your normal house hold insurance will cover the items
    (2) As entertainment equipment it will be covered for accidental damage even if your contents insurance doesnt have accidental damage on other items
    (3) Need to ensure that your 'high risk' items is high enough
    (4) Need to ensure the single item value for high risk items is high enough

    Whilst I only dealt with home claims for a few months all our policies were new for old and I cannot remember ever asking someone what their purchase price was, if it was second hand etc. If your insurers are like we were then you would need to ensure the high risk and single item limit is high enough to cover the cost of the new replacements.

    I have never heard of a specialist insurance for HiFi equipment but a Lloyds Syndicate and a few non-Lloyds insurers have special risks departments who are willing to consider underwritting almost any risk (eg piano players fingers) but I cannot see why you would want to do this.
     

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