yorolpal
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Why do insurance companies hate recording studios????
I'm cutting costs every way I can. To that end I'm seeking new insurance coverage for our building as I'm currently paying wayyyyyyy too much. I've gotten some wonderfully lower estimates all of which come with a list of exceptions...which basically boil down to recording any type music...that would nullify any coverage.
If anyone here sells commercial insurance, I'd sure appreciate some straight dope on this subject.
I DO produce tracks for folks. I DO mix and master tracks for folks. But I DO NOT record bands of any kind. I'm 90% voiceover and commercial broadcast production ( ie...radio and TV spots).
What gives???
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bapu
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Re: Why do insurance companies hate recording studios????
2015/04/19 20:11:38
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I suspect they don't want to be liable for the actions of (perceived) misanthropes, errrm hippy beatnik musicians.
Don't call yourself a "recording studio" to the insurance company? You are a voice over production facility. Yes?
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sharke
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Re: Why do insurance companies hate recording studios????
2015/04/19 20:16:17
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I can only guess that they're aware of how much valuable gear is contained in recording studios? Or maybe they just have visions of 10 guitar amps plugged into the same wall outlet....seems bizarre though.
JamesWindows 10, Sonar SPlat (64-bit), Intel i7-4930K, 32GB RAM, RME Babyface, AKAI MPK Mini, Roland A-800 Pro, Focusrite VRM Box, Komplete 10 Ultimate, 2012 American Telecaster!
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bitman
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Re: Why do insurance companies hate recording studios????
2015/04/19 20:47:53
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Insurance companies don't like liability - crazy They discourage ensuring my pc and network company either because of the liability by making the premiums out of sight. I don't know what they're concerned about - it's eeeeazy. 
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ampfixer
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Re: Why do insurance companies hate recording studios????
2015/04/20 00:03:46
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I guess they think your business will be lousy with "show folk". You know, junkies, pimps and thieves, maybe even bikers. I really have no idea.
Music equipment is a big target for thieves and is usually expensive. The other issue for insurance is that the gear devaluates quickly and has short production runs. You put in a claim and the item is no longer available, making it a big PITA for you and the insurance co. My ex is an insurance broker and there are very few companies handling all the business, so they can ask what they want for coverage.
I know it doesn't help but it may make it easy to understand why they have you by the shorts.
Regards, John I want to make it clear that I am an Eedjit. I have no direct, or indirect, knowledge of business, the music industry, forum threads or the meaning of life. I know about amps. WIN 10 Pro X64, I7-3770k 16 gigs, ASUS Z77 pro, AMD 7950 3 gig, Steinberg UR44, A-Pro 500, Sonar Platinum, KRK Rokit 6
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Karyn
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Re: Why do insurance companies hate recording studios????
2015/04/20 01:27:58
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☄ Helpfulby bayoubill 2015/04/20 03:44:26
I have stacks of recording gear AND I'm a biker.... I'm screwed 
Mekashi Futo. Get 10% off all Waves plugins.Current DAW. i7-950, Gigabyte EX58-UD5, 12Gb RAM, 1Tb SSD, 2x2Tb HDD, nVidia GTX 260, Antec 1000W psu, Win7 64bit, Studio 192, Digimax FS, KRK RP8G2, Sonar Platinum
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craigb
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Re: Why do insurance companies hate recording studios????
2015/04/20 03:50:02
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Karyn
I have stacks of recording gear AND I'm a biker....
I'm screwed
But you also have weapons, so there is that... 
Time for all of you to head over to Beyond My DAW!
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Karyn
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Re: Why do insurance companies hate recording studios????
2015/04/20 07:49:48
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craigb
Karyn
I have stacks of recording gear AND I'm a biker....
I'm screwed
But you also have weapons, so there is that...
My match rifle doubles my insurance, and over here we're not allowed to use them as insurance...
Mekashi Futo. Get 10% off all Waves plugins.Current DAW. i7-950, Gigabyte EX58-UD5, 12Gb RAM, 1Tb SSD, 2x2Tb HDD, nVidia GTX 260, Antec 1000W psu, Win7 64bit, Studio 192, Digimax FS, KRK RP8G2, Sonar Platinum
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AT
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Re: Why do insurance companies hate recording studios????
2015/04/20 10:15:04
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Karyn,
move to Texas, you are our kind of people.
But back on topic - we all know what kind of people musicians are. And you are going to let them just roam and graze around all kinds of expensive equipment. What could go wrong?
Actually, I think the proliferation of home studios is the big problem. I had homeowner's insurance back in the 8os in NYC of all places, got robbed and it paid for all my stuff. A few payouts like that probably concentrated the minds of the insurance industry wonderfully. So you can thank me that you can't get insurance.
Sorry.
https://soundcloud.com/a-pleasure-dome
http://www.bnoir-film.com/ there came forth little children out of the city, and mocked him, and said unto him, Go up, thou bald head; go up, thou bald head. 24 And he turned back, and looked on them, and cursed them in the name of the Lord. And there came forth two she bears out of the wood, and tare forty and two children of them.
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UbiquitousBubba
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Re: Why do insurance companies hate recording studios????
2015/04/20 10:35:04
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Based upon my extensive research on TV commercials, Insurance companies exist to teleport people out of dangerous self-inflicted disasters, be everyone's BFF, constantly dump out truckloads of money regardless of circumstances, and instantly restore property whenever tragedy strikes. Apparently, the companies are staffed with hilarious, outgoing and charming people who deeply care about each and every customer. The employees compete against each other to see who can give their customers the best service and pay out the largest claims. When someone files a claim, the insurance company will violate the laws of physics in order to instantly deliver a massive payment, replace the entire house, and bring cookies.
It would appear that you've been calling the wrong insurance companies. That's the only logical explanation, right?
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yorolpal
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Re: Why do insurance companies hate recording studios????
2015/04/20 11:35:04
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I sent a letter for my prospective insurer to send to his underwriters explaining exactly what we do. We'll see. Sheesh.
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ampfixer
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Re: Why do insurance companies hate recording studios????
2015/04/20 14:02:07
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Karyn
I have stacks of recording gear AND I'm a biker....
I'm screwed
Mmmmmm, biker chick. I used to have a GS1100, although real bikers laughed at it, even the girls. 
Regards, John I want to make it clear that I am an Eedjit. I have no direct, or indirect, knowledge of business, the music industry, forum threads or the meaning of life. I know about amps. WIN 10 Pro X64, I7-3770k 16 gigs, ASUS Z77 pro, AMD 7950 3 gig, Steinberg UR44, A-Pro 500, Sonar Platinum, KRK Rokit 6
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yorolpal
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Re: Why do insurance companies hate recording studios????
2015/04/23 11:46:20
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OK...get this. I sent a detailed letter outlining our business; what we do and what we don't to the Travelers underwriters. Basically saying that we DO NOT record bands but we DO record voiceover and we do produce custom music in-house. Travelers Insurance...which had the lowest quote...said well then they couldn't insure us because their recording studio policy was only for folks who did not record anything themselves, but who made their facility available to others to record. In other words they would NOT insure me because I record at my OWN studio. How's that for convoluted logic??
We ended up going with Hartford and a very good quote. But it's been quite the learning experience:-)
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Moshkito
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Re: Why do insurance companies hate recording studios????
2015/04/24 09:36:25
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yorolpal
I sent a letter for my prospective insurer to send to his underwriters explaining exactly what we do. We'll see. Sheesh.
I would consider filing a complaint with your state's Consumer Protection Agency. They would have to prove that it is not a discriminatory practice of some kind, or an "excuse" to charge more. Unfortunately, many of these companies do what they want and the government, much less the state, do not even know ... what they are doing ... and no one can keep up with the excuses and the fine print!
Music is not about notes and chords! My poem is not about the computer or monitor or letters! It's about how I was able to translate it from my insides!
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