When my house burned down, it took my $5,000 Taylor with it. I'm not a professional musician and had a specific policy for that guitar which cost me about $60 a year with Allstate (thank God). I did get my reimbursement for that guitar right after the fire, but had to fight tooth and nail with attorneys to get the rest of the policy limits paid to rebuild my house.

Okay, now I switched to USAA and they actually reduced my homeowners insurance when I took out an additional rider for my jewelry and remaining instruments which actually reduces my total insurance cost! (No, I don't work for USAA).

You are wise to take out insurance for your instruments for fire, theft and flood, no matter if you are a renter or homeowner. Word to the wise...although I never thought it would happen to me - it did. You never know what the future may bring.

Protect your babies (herd/instruments or otherwise). :-)