Posted by: illini
Grand piano Insurance dilemma - 11/13/12 11:48 AM
I would love to hear other opinions on an insurance replacement dilemma. My insurance will pay $17000 to replace my grand piano but only $9000 cash if I don't replace it. The original piano was a good older one that had been rebuilt so there was a big difference between replacement and depreciated value. I had bought the piano 15 years ago for my son who now uses only his yamaha keyboard hooked up to his computer and is heading off to college anyways. There is no reason for us to replace this piano but I hate to just take the cash and walk away from $8000 in value. Should I buy a piano for $17,000 and then try to re-sell it? Someone suggested that Yamaha would be the easiest to resell. The insurance will even pay for taxes and delivery on top of the $17,000. Any thoughts? Would anyone be interested in picking out a grand piano that I could buy and then re-sell to them for a discount? My insurance doesn't care if buy it used or new. It can even be from a private party. I am near Chicago.