Whether you are an expert musician or simply a hobbyist, you put in your time and effort keeping your instruments spick and span. You clean your violin under its bridges, replace the strings of your guitar, and pamper your gear, as much as possible.
However, is that enough? Will it protect your instrument against theft, fire, and elements of nature like a storm, earthquake, etc.?
Well, taking proper care of your musical instrument also means protecting it from every possible damage and peril. And, you can do it by investing in Musicians Insurance. It will not only protect your instrument but you, as well from the associated liabilities.
Certain home insurance plans do cover your musical instruments. However, with most of these, you’re not likely to get a comprehensive cover. Therefore, a standalone policy is the safest bet.
What’s covered under musical instrument insurance?
A customer-centric insurance provider generally covers most types of musical gears and accessories. It includes –
● Traditional musical instruments like guitars (acoustic and electric), clarinet, pianos, piccolo, drums, and others
● Stage equipment such as microphones, speakers, PA systems, smoke machines, lights, etc.
● Studio equipment such as records, CDs, computers, mixing gears, turntables and all.
● Associated accessories like amplifiers, bows, drumsticks, cases, adaptors, and pedals.
What instrument coverage will protect against?
Most instrument coverage plans protect you against the following –
● Theft, loss, and accidental damage – This policy inclusion covers your musical instrument if, unfortunately, they are lost, damaged, or stolen. This feature is more or less standard with most musical instrument plans. However, you should always compare various policies before buying one.
● Public liability – This policy gets you covered if you have injured someone or damaged his/her property which your on-stage performance or training sessions. This aspect of musicians’ insurance is crucial for you. So, check with your insurance provider beforehand.
● Personal accident cover – What if you got injured during a stage show? What if the accident made you bed-ridden or you lost your eyesight or limbs? A personal accident policy will cover you against all such unforeseen situations. It is highly advisable to get this cover included in your musician’s cover.
● Coverage across the globe – As you are a musician, you might have to travel a lot, even abroad. What if your instrument is damaged or you are injured in a foreign country? What if someone else sustained any kind of bodily injury or property damage because of you? An insurance plan you choose should offer worldwide coverage. Make sure to clarify the same with your insurer before buying a policy.
So these are some of the standard features that you can avail with an insurance company on purchasing a musical instrument insurance policy. However, you can always customize if or not you want a particular cover. For example – if you love playing guitar, but don’t perform in public, getting public liability cover is not necessary. Just having your guitar covered for accidental damage, theft and loss would be enough. So, be informed, know your needs, and then decide on the extent of coverage you need.
How much does a comprehensive insurance coverage cost?
Well, the amount of money you need to shell out on a comprehensive insurance cover depends on certain factors including the extent of coverage, policy inclusions, policy exclusions, the sum insured, premium, deductibles, cancellation charges, etc. So, it is more likely to vary from one service provider to the other. So, make sure to confirm everything with your insurance service provider before going into the agreement. With a reliable and customer-oriented service provider, you will always get upfront price quotes without any hidden games.
Is it important to compare various policies?
Yes, policy comparison is important because it allows you to choose a suitable policy after analyzing several policies. It helps you understand which insurance plan offers what. Once you have a clear idea about the inclusions, exclusions, and other relevant aspects of multiple insurance plans, it will become easier for you to choose the most suitable plan according to your needs.
How can insurance plans help you burning holes in your pocket?
Let’s consider that you don’t have any insurance coverage and your musical instrument gets stolen or lost or damaged. How will you pay for buying a new one or repairing the damaged one? From your pocket, right?Needless to mention that buying and repairing musical instruments can be expensive. However, if you had insurance coverage, you could have saved a lot of money because your insurance provider will be taking care of the finances. Plus, it also saves you the mental hassles you are most likely to go through.
We know that nothing can take the place of your beloved musical instrument. However, with a reliable Musicians Insurance service provider by your side, you can at least shoo away the financials issues.