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- This topic has 16 replies, 8 voices, and was last updated 11 years, 6 months ago by
Sid Humphreys.
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October 1, 2013 at 11:47 am #77447
donna-germano–2
ParticipantI recently purchased a LH style 16 from their previously owned division. it’s an older harp that is out of production. even though I paid $17,000 for it the appraised value is $48,000! The reasoning being the cost of trying to rebuild or reproduce that. The insurance company will only accept $48,000 and is charging me in accordance with that value. I bought it as a usable gig harp not as a historical investment. if it were damaged to that extent I would purchase a new or used harp for $25,000. has anyone successfully dealt with an insurance company in this type of situation? it’s an extra $225 a year!
October 1, 2013 at 6:18 pm #77448Tacye
ParticipantSurely if you had a word with L&H they would give you a valuation of $25,000. Or $17,000 as that is what their experts priced it at… Wouldn’t they?
Thankfully, I have not had any problems over old harp valuations – I suggest a number and the insurer says that sounds reasonable… but as you are not in the UK doubt my experience will help you.
October 1, 2013 at 6:19 pm #77449mia-strayer
ParticipantIts ben a long time sense I saw you on HC.
I still want to see pictures of your new harp
we still are looking for harp incherience for my pedal harp
Maybe they’re trying to bring an older modal harp to life again
who knowsOctober 1, 2013 at 6:54 pm #77450ParticipantI asked LH to give me another statement like “this harp is no longer in production. A new semi-grand would cost…”. They are checking to see if the can give me something. But so far, I’m sorry I gave them that appraisal of $48,000. They required a written appraisal.
Mia, if you join the American Harp Society you would be able to get insurance through a company that offers it for members. Homeowners insurance usually won’t cover it.
October 1, 2013 at 7:49 pm #77451kay-lister
MemberMy friend and I bought a 1956 L&H 17 about a year ago. We had to send pictures and we got it insured for full replacement value through Andersons. I don’t believe they make the 17s any longer (could be wrong), but if the one we had would have crashed, exploded, or whatever, we would have gotten the full value for what it would have cost new (even if they were no longer making that model). We then would have purchased one of the same value.
As it turned out, we sold it and got funds back from Anderson since we took it off the policy.
Kay
October 1, 2013 at 8:04 pm #77452Participantthat’s not my point. I would never spend $48,000 trying to replicate a harp that was destroyed and no longer in production. I could buy a comparable semi grand harp for $25,000 or less. In the insurance world you can also insure for a set amount rather than an absurd value like that.. 17 is out of production but the 16 was even older. I couldn’t imagine rebuilding one from scratch.
October 1, 2013 at 10:45 pm #77453ParticipantLyon and Healy will only give that appraisal amount. I’m going to try to give Merz Huber a copy of my receipt for $17,000 to see if they would cover it at that amount. Like Tacye said, that’s the price their experts gave it. I just think the whole thing is absurd but there are plenty of people with these older harps.
October 2, 2013 at 7:51 am #77454carl-swanson
ParticipantThe insurance value is what it would cost to replace an instrument with something similar to what you lost. If you are insuring a straight soundboard, 45 string instrument with bronze and gold decoration, then you insure it for what similar instruments are being advertised at. You should not be insuring it for that particular decoration and carving, which is no longer made. That’s absurd. Contact Anderson Insurance or Clarion and tell them how many strings your harp has, straight or extended soundboard, etc. They shouldn’t care at all what kind of decoration is on it. Most importantly, if you paid $17,000 recently for that instrument, then that is what it is worth.
October 2, 2013 at 11:16 am #77455Participantthanks Carl. Merz Huber told me it is replacement value only insisting on an appraisal amount. I’m still losing the argument. I’ll be insurance for shopping. I’ll use your approach.
October 3, 2013 at 7:16 pm #77456Sid Humphreys
ParticipantDonna. I just got off the phone with Anderson Insurance. The insured price can be what ever you want with them. Many people today who have gold harps are insuring for the price of a new natural finish. If anything happens to their gold harps, they would rather replace with a less fussy finish. Do you get where I’m going with this? You may insure your harp for less than the cost of a new replacement with Anderson.
October 3, 2013 at 8:26 pm #77457Participantthanks Sid! I wondered what other people are doing. They can’t be paying for it this way! I didn’t get anywhere with either Clarion or Merz Huber. They were both hung up on the gold and finding a comparable harp. So now I will try Anderson. I’ll ask them to insure for a harp with natural finish, specify amount. I had to send the check to Merz because the harp is in shipping right now. But now I’ll have time to work on checking it out with Anderson. It will be nice to DUMP Merz!
October 3, 2013 at 10:14 pm #77458evelyn-tournquist–2
ParticipantYou’d better check the fine print with Anderson before making your move. Just because they are in bed with the American Harp Society does not mean they are the best insurer (I wouldn’t touch them). Have you contacted Heritage?
1-800-289-8837 ext 111October 3, 2013 at 11:47 pm #77459ParticipantEvelyn, could you be more specific? I’ve had nothing but impeccable service from Anderson. I have read my contract though and see nothing wrong.
October 4, 2013 at 12:15 pm #77460MemberI agree with Sid – I’ve had absolutely NO problems with Anderson Ins. The ONLY thing I don’t like though, is the $25.00 (I call it the “Just because” fee) that they tack on each year. They insure my amp. as well.
Kay
October 5, 2013 at 1:05 pm #77461Participantyes, what were your problems with Anderson? I just want to be able to specify the insurance amount, not get some ridiculous $48,000 value for a harp I pay $17,000 for.
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