The emotional reunion of South African violinist Petrus De Beer with his treasured 1896 Léon Fischesser violin serves as a poignant reminder of the emotional and financial risks associated with valuable possessions. After the violin was stolen from his car in July 2022, it was recently recovered thanks to two observant Capetonians, underscoring the critical need for insurance to protect against unforeseen loss and damage.
In a recent interview, De Beer revealed that he had not insured his violin, valued at €17,000 (approximately R325,000), and felt devastated when he discovered it had been taken. This 128-year-old instrument was missing for 18 months until the Van Stadens recognized it from De Beer’s Facebook post about its loss. They contacted him, facilitating a reunion that coincided with the thirteenth anniversary of his mother’s passing, from whom he inherited the violin.
“While insurance cannot replace the sentimental value of treasured items, it can prevent musicians and collectors from facing financial hardship if the worst happens,” said Tarina Vlok, Managing Director at Elite Risk Acceptances, a high-net-worth insurer under Old Mutual Insure.
“For musicians, instruments are not merely valuable possessions; they carry profound personal significance. Theft or damage can disrupt both their emotional connection and their livelihoods,” Vlok added.
She stressed the importance of specialized insurance for high-value items such as musical instruments, jewelry, and fine art, especially for professional musicians who invest significantly in their craft.
Vlok explained that standard insurance policies typically cover theft, damage, fire, and water-related incidents. Specialized insurers may offer broader coverage. However, professional musicians should consult their brokers to ensure they have the right protection for their valuable instruments. Domestic insurance usually covers items for personal use, while amateur musicians might find some coverage under homeowner’s insurance.
Due to their rarity and craftsmanship, many instruments require specialized insurance, and insurers need to understand how and where the instrument is used. For instance, the 300-year-old Nicolo Gagliano cello borrowed by Italian musician Sam Lucas has strict travel conditions to mitigate risks associated with cargo holds.
Instruments like De Beer’s violin, which require careful handling, necessitate tailored insurance policies that consider factors like craftsmanship, origin, and historical significance. Standard policies often fall short in addressing these aspects, making bespoke policies essential for accurate valuation and protection.
Vlok concluded, “The cost of insuring a musical instrument largely depends on its value. While proof of purchase may be sufficient for standard instruments, rare and valuable pieces often require an expert appraisal to establish their true insurable value.”
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