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AIG Musikinstrumentenversicherung: the policy wording in full
Musikinstrumentenversicherung gegen Beschädigung und Abhandenkommen zum Verkehrswert, Geltungsbereich laut Versicherungsschein, Laufzeit ein oder drei Jahre.
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Everything about this policy
What the policy covers: 67 points, each with its clause
Quotes are shortened.
The full German wording of each point is on the German page for AIG Musikinstrumentenversicherung.
Basics
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Sum insured (value of the insured instruments including accessories) | as stated in the policy schedule | „Die Versicherungssumme vereinbaren wir mit Ihnen im Versicherungsvertrag. Sie soll dem …“ | Wie hoch ist die Versicherungssumme?, page 1 |
| All-risks cover (everything not expressly excluded is insured) | yes | „Beschädigungen oder Abhandenkommen ihrer versicherten Gegenstände.“ | Was ist versichert?, page 1 |
| Insured instruments (acoustic, electric, electronic, keyboards, percussion) | not addressed | ||
| Accessories covered (cases, bows, stands, sheet music) | not addressed | ||
| Sound and stage equipment insurable (amplifiers, effects, microphones, PA, lighting) | not addressed | ||
| Basis of settlement: replacement value, current value or agreed value | no | „Das ist der Verkehrswert des versicherten Gegenstandes am Tag des Schadens bis zur Höhe …“ | Was wird ersetzt?, page 1 |
| Agreed value with waiver of proof of value at the time of loss | not addressed | ||
| Cover for appreciation in value of the instrument | not addressed | ||
| Automatic cover for newly acquired instruments until notified | not addressed | ||
| Professional use covered (professional musicians, teachers, students) | not addressed | ||
| Borrowed, hired and entrusted third party instruments | not addressed | ||
| Territorial scope (home, country, Europe, worldwide) | yes | „Die Versicherung gilt für die im Versicherungsschein angegebenen Länder.“ | Wo bin ich versichert?, page 2 |
Insured perils
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Breakage and damage from dropping, impact or knocking over | yes, up to the sum insured | „Beschädigungen oder Abhandenkommen ihrer versicherten Gegenstände.“ | Was ist versichert?, page 1 |
| Operating error, clumsiness, negligence | not addressed | ||
| Damage caused by third parties (audience, fellow musicians, malice) | not addressed | ||
| Theft by burglary | not addressed | ||
| Robbery | not addressed | ||
| Simple theft (without forced entry, e.g. from rehearsal room or dressing room) | not addressed | ||
| Loss, mislaying, leaving behind | yes, up to the sum insured | „Beschädigungen oder Abhandenkommen ihrer versicherten Gegenstände.“ | Was ist versichert?, page 1 |
| Fire, escape of water, storm and hail | not addressed | ||
| Other natural hazards (flood, earthquake, avalanche, landslide) | not addressed | ||
| Liquid damage (spilled drinks, rain at open air performances) | not addressed | ||
| Power surge, short circuit and lightning for electric instruments and equipment | not addressed |
Transit, performance and travel
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Transit damage while carried or transported by the insured | not addressed | ||
| Accident of the means of transport (car, rail, aircraft, ship) | not addressed | ||
| Cover during performances, rehearsals, lessons and recordings | not addressed | ||
| Theft from a parked, locked vehicle | not addressed | ||
| Night clause for instruments left in a vehicle (no cover during certain hours) | not addressed | ||
| Checked baggage and hold on flights | not addressed | ||
| Shipment by post, courier, forwarder or carrier | not addressed | ||
| Storage in hotels, backstage, dressing rooms or third party premises | not addressed | ||
| Maximum duration of trips or stays abroad | not addressed |
Benefits after a loss
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Repair costs by a specialist workshop or instrument maker | not addressed | ||
| Loss of value after professional repair | not addressed | ||
| Settlement for total loss or disappearance | yes, up to the sum insured | „Im Schadenfall ersetzen wir den Versicherungswert.“ | Was wird ersetzt?, page 1 |
| Hire or replacement instrument during repair | not addressed | ||
| Transport to and from the workshop | not addressed | ||
| Costs of experts and valuations | not addressed | ||
| Search, salvage and recovery costs | not addressed | ||
| Pair and set clause (loss of value of the remaining part, e.g. instrument and bow) | not addressed | ||
| Loss of income or extra costs for professional musicians (cancelled gig, replacement) | not addressed | ||
| Waiver of underinsurance | not addressed |
Excess
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Excess per claim | not addressed | ||
| Higher excess for theft or loss | not addressed | ||
| Excess or reduction for theft from a vehicle | not addressed | ||
| Optional excess in return for a lower premium | not addressed |
Exclusions
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Exclusion of wear and tear and ageing | yes | „Schäden aufgrund von Abnutzung“ | Gibt es Deckungsbeschränkungen?, page 1 |
| Exclusion of damage from temperature, humidity and climate (cracks) | not addressed | ||
| Exclusion of damage from vermin, woodworm, rust and corrosion | not addressed | ||
| Exclusion of internal mechanical or electrical breakdown | not addressed | ||
| Exclusion of scratches and finish damage without loss of function | not addressed | ||
| Exclusion of consumable parts (strings, drum heads, reeds, bow hair) | not addressed | ||
| Exclusion of damage during repair, restoration or processing | not addressed | ||
| Gross negligence covered (no reduction) | not addressed | ||
| Exclusion of confiscation and seizure by authorities (e.g. customs) | not addressed | ||
| Exclusion of war, civil unrest, terrorism and nuclear energy | not addressed |
Obligations and contract
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Transport only in a suitable case | not addressed | ||
| Supervision duty when away from home (theft only covered if supervised or locked) | not addressed | ||
| Rules for instruments in vehicles (locked, out of sight, boot) | not addressed | ||
| Proof of value or valuation required at inception | not addressed | ||
| Police report without delay after theft or loss | yes | „Im Falle eines Diebstahls, eines Abhandenkommens, einer räuberischen Erpressung oder …“ | Welche Verpflichtungen habe ich?, page 2 |
| Deadline for notifying a claim | yes | „Unter anderem müssen Sie uns jeden Schadenfall unverzüglich anzeigen.“ | Welche Verpflichtungen habe ich?, page 2 |
| Insurer's consent required before repair | not addressed | ||
| Short term cover for single trips, tours or loan periods | no | „Die Versicherung können Sie für eine Dauer von einem Jahr oder drei Jahren abschließen“ | Wann beginnt und wann endet die Deckung?, page 2 |
| Blanket policy for orchestras, associations, music schools or ensembles | not addressed | ||
| Minimum contract term | yes | „Die Versicherung können Sie für eine Dauer von einem Jahr oder drei Jahren abschließen …“ | Wann beginnt und wann endet die Deckung?, page 2 |
| Insurer's right to cancel after a claim | yes | „Daneben können Sie oder wir den Vertrag vorzeitig kündigen. Das ist z.B. möglich nach …“ | Wie kann ich den Vertrag kündigen?, page 2 |
Evaluated by NAMMERT from published policy wordings.
Despite care, a value may be misread;
legally only the wording of your own contract in the edition stated there applies.
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Policy wordings and provider
- Legal entity
- AIG Europe S.A., Direktion für Deutschland
- Distribution
- available through brokers
- Informationsblatt zu Versicherungsprodukten: Musikinstrumente Edition: IPID ohne Datum Original from the insurer (PDF, German)
Full text of the wording
The full text exists only in German.
It is printed on the German page for AIG Musikinstrumentenversicherung and available as plain text.
Volltext AIG Musikinstrumentenversicherung Instrumentenversicherung · As text (Markdown) AIG Musikinstrumentenversicherung