Clarion Coverages & Features

Clarion Associates Inc has developed a unique policy that is designed for the owners of musical instruments and recording equipment. Be aware, this coverage is not available elsewhere!

Clarion's policy has the following unique coverage enhancements. Click on any one for a more detailed explanation.

• All Risk

  Every possible type* of damage or theft is covered except those very few exclusions listed in the policy.

• Worldwide

  Simply stated, our coverage is in force anywhere in the world, wherever the instrument is located.

• Valued at Basis

  Valued At means that we agree to insure the instrument for the amount shown in the schedule of instruments insured. The amount that the instrument is insured for is the amount that you will collect in the event of a total loss. Valued At is better than replacement cost in the sense that it is predetermined exactly how much the insurance company will pay in the event of a loss and therefore there is no need for negotiations as to what the replacement cost of an instrument is.

• Difference in Value

  Not only do we cover the cost of repairing a damaged instrument, we also cover the difference in the instrument’s value before the loss and the value after the loss (if any).

• Right of Repurchase

  In the event an instrument is lost, misplaced, or stolen, and we have paid a claim settlement, if that instrument is recovered the insured will have the option to repurchase the instrument for the same amount that the named insured received in the claim settlement. The insured will not have to reimburse Clarion for any claim expenses that have been incurred such as investigation or reward expenses.

• Clarion Business Interruption Endorsement

  If your instrument is either damaged or stolen/lost and you are forced to cancel a performance, this new coverage will reimburse you if you lose fee income because of a covered loss.

  Because we know how important a musician´s fee is, we are including a per incident limit of $250.00 at NO COST to the customer. Higher limits are available to those musicians who charge higher fees.

  If you wish to purchase limits in excess of $250.00, please call us to discuss how to secure additional coverage limits.

• Newly Acquired Instrument coverage

  We will cover newly acquired instruments up to the value of the highest valued instrument on the named insured´s current musical instrument schedule; up to a maximum of 50,000.00. You must notify Clarion within 30 days that you have in fact acquired the instrument.

• Borrowed Instrument coverage *

  We will provide 30 days of free coverage to any instrument you borrow, as long as you notify us within 48 hours of the time you take possession of that borrowed instrument. In the event of a covered claim, we will pay up to the highest valued item on your policy or $50,000, whichever is less.

• Replacement Instrument Coverage

  If your instrument is being repaired, due to a covered loss, you have automatic insurance coverage for a replacement instrument. This coverage limit is up to the value of the instrument being repaired.

• Inflation Guard Coverage

  This coverage only applies to newly "Manufactured Instruments" less than 2 years old. If you keep your instrument(s) insured for an amount within 2 years of price increases you will have the ability to collect more than the amount the instrument is insured for.

• Partial Loss Damage Coverage Enhancement

  The policyholder has the option of keeping any undamaged instrument parts that have sustained damage. For example if a bow breaks, the insured can keep the Frog and we will deduct the value of that Frog and pay the balance of the insured value. The right to keep undamaged parts is strictly At Your Option. There is no requirement to purchase undamaged parts. This is strictly recognizing that musicians’ get attached to their instruments and may wish to re-use parts. Most insurance policies do not allow the policyholder the option to keep undamaged parts.

* Not all applicants qualify for all coverage terms or enhancements. All coverage is subject to the terms and condition of the specific policy issued to a specific applicant. Certain policyholders may receive specific exclusions, restrictions or limitations that might be a condition in order to allow that applicant to qualify for coverage.