insurance

Welcome to ODJT
Wanting to join the rest of our members? Sign up today!
Sign Up

oldschooldj

DJ Extraordinaire
Jul 7, 2012
709
842
95
56
FT. CAMPBELL
#1
Guys and Gals,

Now that I am thru my first year back in business it is time to renew different memberships. I can say that Primcuts has been great, School Dance Network super, NAME has been a big help and they offer me a great discount for my military service and I will continue my membership with all those mentioned.

Willis insurance will never get another dime of my money, they (atleast the girl that works there, works is probably the wrong word) are rude, they do not answer their e-mails, but are johnny on the spot to take your money. The few times I have tried to work with them has me really worried what it would be like if I ever had a claim.

In my area there is no venue I play in that requires insurance, however I like to have it and I do wish to keep my 40K investment covered. What are my other options in the same price range or within a 100 bucks, I pay $175.00 for my liability and 100.00 per 10K equipment value.

Any help would be appreciated!

Thanks Ray J.
 

Proformance

DJ Extraordinaire
Nov 6, 2006
5,431
2,930
115
#5
Guys and Gals,

Now that I am thru my first year back in business it is time to renew different memberships. I can say that Primcuts has been great, School Dance Network super, NAME has been a big help and they offer me a great discount for my military service and I will continue my membership with all those mentioned.

Willis insurance will never get another dime of my money, they (atleast the girl that works there, works is probably the wrong word) are rude, they do not answer their e-mails, but are johnny on the spot to take your money. The few times I have tried to work with them has me really worried what it would be like if I ever had a claim.

In my area there is no venue I play in that requires insurance, however I like to have it and I do wish to keep my 40K investment covered. What are my other options in the same price range or within a 100 bucks, I pay $175.00 for my liability and 100.00 per 10K equipment value.

Any help would be appreciated!
Any of the simple DJ liability policies like RV Nuccio would be fine if you are a single-op doing just DJ type things.

One thing to consider is to lose the equipment coverage and build your own plan to self-insure against loss. If you have a lot of equipment that is used consistently then perhaps apply a very high deductible for catastrophic loss - as opposed to spending money to protect little things you could easily replace with a credit card.

When considering something other than liability insurance - look to your current bookings not your garage.
It is not the gear that you want to insure - it is your ability to complete a contract.


$40K really isn't an investment - it's a sunk cost. You have probably spent a lot on music for example, that you no longer play. You may have older gear that you likely won't replace, or lighting and accessories that may not get a lot of use, or have no impact on your receivables. Rather than spend premium dollars on some arbitrary purchase price - take a good look at the jobs on your books and decide exactly what it is you would need to acquire in order to fulfill those contracts should your entire inventory be destroyed tomorrow.

You may discover that when it comes to equipment - you have rental, associate, cash, and credit resources enough to continue without an immediate need to replace anything. Another way to look at it is: while you may have spent $40k on gear and music building an inventory - if you were starting from zero today all you really need to pull of a quality event next week is $500 of cash or credit.
 
Likes: 3 people

steve149

Urbane Legend
Sep 26, 2011
20,005
28,162
115
Prospect, CT
#8
I saw them before.
Is $175 the final price for just liability? Or are there added costs not mentioned?
Do you need a membership in some DJ organization?
Cost is $268 for $1M/$2M coverage without being an ADJA member .. $179 if you are. You can add-on for property damage and theft (I did not).

Just go here: https://quote.rvnuccio.com/USODataPage.aspx?PageName=DJQuickRate.aspx select your options and it will price it out for you. You can go back and change values and compare.
 
Likes: 1 person

ahoustondj

DJ Extraordinaire
Aug 13, 2007
20,235
3,464
115
Texas
#9
I saw them before.
Is $175 the final price for just liability? Or are there added costs not mentioned?
Do you need a membership in some DJ organization?
Check with the Company who provides your Home and Auto Insurance. If they can offer you coverage then bundling may give you a better rate besides you will be dealing with someone locally.
 
Likes: 1 person

Jeff Romard

Moderator
Staff member
Sep 4, 2006
16,510
10,477
115
48
Sydney, Nova Scotia
#11
Cost is $268 for $1M/$2M coverage without being an ADJA member .. $179 if you are. You can add-on for property damage and theft (I did not).

Just go here: https://quote.rvnuccio.com/USODataPage.aspx?PageName=DJQuickRate.aspx select your options and it will price it out for you. You can go back and change values and compare.
They just quoted me 3400+ for just loss :eek:

Believe it or not I'm with Proformance on this one (write that down somewhere ;)) self insuring is the best way in this business
 
Likes: 1 person

steve149

Urbane Legend
Sep 26, 2011
20,005
28,162
115
Prospect, CT
#12
They just quoted me 3400+ for just loss :eek:

Believe it or not I'm with Proformance on this one (write that down somewhere ;)) self insuring is the best way in this business
What the heck did you type in? If I put $100,000 in it only gets to $1220. If I put a more reasonable $10,000 in (the amount I would bring at max to a gig) it's $212 for the year.
 

Jeff Romard

Moderator
Staff member
Sep 4, 2006
16,510
10,477
115
48
Sydney, Nova Scotia
#13
What the heck did you type in? If I put $100,000 in it only gets to $1220. If I put a more reasonable $10,000 in (the amount I would bring at max to a gig) it's $212 for the year.
I put in $50,000
 

Jeff Romard

Moderator
Staff member
Sep 4, 2006
16,510
10,477
115
48
Sydney, Nova Scotia
#15
Well Steve actually I thought it might have something to do with being Canadian but now I think there is something wrong with their quote generator I just did it again added liability and it went down to 1164 :eek:
 

steve149

Urbane Legend
Sep 26, 2011
20,005
28,162
115
Prospect, CT
#16
I pay $268 for liability ($1M/$2M). I decided against equipment coverage. I wouldn't cover media, as I have electronic backups in multiple locations. I looked at covering a typical equipment haul (I assumed around $6000 of replacement cost, and it was enough that I decided to "self insure" or basically take the risk and replace if necessary. I suppose if I had equipment in a trailer that was easily taken in total or if I left equipment setup without supervision I might have bit.
 
Likes: 1 person

Jeff Romard

Moderator
Staff member
Sep 4, 2006
16,510
10,477
115
48
Sydney, Nova Scotia
#17
I do the same Steve I self insure for loss been doing it for years I was just toying with the generator