Important advice regarding insurance for musical instrument.
Classical instruments of the Symphony Orchestra can be divided into 5 different groups:
1: Stringed instruments
Violins, Violas, Celli, Double Basses and bows.
2: Wood wind instruments
Flutes, Oboes, Clarinets and Bassoons.
3: Brass instruments
Trumpets, French Horns, Trombones, Tubas
Snare drums, Timpani, all accessories etc.
Grand Pianos, Harpsichords, Harps, Organs etc.
It is important to understand, that the value of all instruments of the violin family will increase as time goes by. These instruments will, in many instances, be considered as antiques since they often have an historic value.
In many cases, they are also regarded as investment objects for banks and foundations.
Stringed instruments need to be examined and appraised by experts who are specialized in this field. Such experts usually have a thorough training as violin makers before specializing into the field of expertise.
Instruments of the bassoon family are also subject to increase in value, due to their rarity and a rather limited production. Special attention is therefore needed when valuing bassoons and contra bassoons for insurance.
All other instruments: woodwind; brass; percussion; guitars; lutes and keyboard instruments are normally insured at their current replacement value. Most of these instruments are replaced after a number of years. It is only on rare occations that such instruments have an antique value.