There are many types of insurance on Collected.Reviews. Insurances are generally established to protect you from unforeseen circumstances.
Insurance functions to safeguard your interest in times of loss or damages. As with other properties people have insurance for, you can also get an insurance policy for your musical instrument.
The benefits of insurance for musical instruments are numerous. If you’re a musician, you can easily get a replacement of your instrument when you lose it or it gets damaged. There are different things the musical equipment insurance entails, some of them are:
Insurance for Musicians
As a musician, your instrument is as important to you as your songs. Insurance can’t prevent the loss of your equipment, but it can reduce the days or weeks you spend without getting a replacement.
While homeowner insurance would cover musical instruments, the coverage of personal property is limited. If the equipment is costly, the homeowner’s policy isn’t sufficient to protect your property.
If you’ve bought a musical instrument for your kid, you can also have coverage to repair damages or get a replacement if the instrument is missing. If you also have instruments in your home, there is a high probability that you can’t go everywhere with them. You must protect your property by getting insurance for its retail values. As earlier noted, a homeowners’ insurance policy won’t cover a costly property.
About Scheduled Personal Property
This is an activity that involves having your instrument insured in the retail value it possesses. You have better chances of getting an instrument related to a missing one by getting a replacement cost value (RCV) from your insurance plan. Through this, even if your instrument got missing on transit or it got ruined in an accident, you can have a replacement of the same value.
Your insurance plan for musical instruments protects your property. It protects it from typical damage specified in your policy. It also protects it from theft or loss.A musical instrument insurance doesn’t cover costs for tear and wear, intentional damages, or deterioration of such instruments due to the years of use. Mostly, musical instrument insurance covers pianos, flutes, woodwind instruments, brass instruments, guitars, amplifiers and audio equipment, and a few other instruments.
Musical instrument insurance also covers accessories such as gig bags, sheet music, and a few others that are integral to artists. You can also access professional policies that offer liability to musicians. They even offer off-premise coverage.
The risks your instrument can be exposed to must be fire explosions or lightning, guitar shedding, damage during transport, instrument mix-ups and loss, theft and robbery, water damage, and a few others. Any other cause of accident aside the ones stated in your policy will not be catered by the insurance company.
Apart from the above listed, you can opt for home studio insurance to secure the protection of your recording equipment. You can also get a music tour insurance, music performers insurance, insurance for DJs and bands, and a few others. You can get coverage for almost every music-related activity.