Is String Instrument Insurance Worth An Investment?

By Author: Dan Schoenfeld
Total Articles: 240
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Daily care and maintenance are two of the integral words in the dictionary of musical instruments owners. If you are a musician or own musical instruments, like woodwind and string instruments, as a collectible, you should pin it into your mind that proper care includes many other aspects apart from cleaning and maintaining your strings.

The word care is an umbrella term, and it involves safeguarding your gears from unforeseen conditions such as damage and theft. According to industry experts, investing in a comprehensive String Instrument Insurance is worth it. And every musical instrument owner, whether a musician or non-musician, should go for it.
Musical Instrument Insurance Policy - Who should go for it?
You should consider investing in a string instrument cover, if -
You are a musician by profession - If your livelihood depends on your musical instrument, be it a guitar, a violin, or any other one, getting a proper insurance cover for your gear is imperative. There are many reasons that advocate getting one. Standalone musical instrument insurance covers your instrument if it is lost or ...
... broken. With a reliable and customer-friendly service provider, you are also likely to get the cost of replacement if your gear is broken or lost. Some companies also cover the accessories too.
You collect valuable musical instruments - If your hobby is to collect valuable instruments, then also it’s worth investing in a comprehensive insurance plan. See, accidents can happen anytime and anywhere. So, it is wise to be prepared for emergencies. If you have taken an add-on for musical instruments with your homeowner’s cover, make sure that it covers the entire replacement cost, if your gear is lost or stolen. In most cases, the homeowner’s insurance plans are less likely to provide you with complete protection.
You travel with your instrument frequently - Musical instruments are fragile and are prone to damage. So, if you travel with your guitar quite a lot, it’s better to get it insured. The reason is quite obvious. Your gears can suffer a significant amount of damage or even complete loss (theft) while in transit. In light of such unwanted scenarios, getting a musical insurance cover seems way more significant than thought.
Musical Instrument Insurance Policy - What to look for?
1. Public liability - If you think that musical insurance covers only include theft and damage, then you need to reconsider your facts. These insurance plans have more aspects to it. And, one such aspect is public liability cover. With a public liability plan, you can protect yourself in case of an accident caused due to your strings while performing in public.
2. The extent of coverage of homeowner’s plan - If your homeowner’s insurance plan already covers your home and its belonging, then also you should understand its limitations. Although theft and damage coverage is common with most insurance plans, even the best homeowner’s insurance plans have certain limitations when it comes to insuring high-value products. So, check it with your insurance provider in the first place.
3. Check-out the limitations - No matter how comprehensive insurance plans claim to be, every policy comes with a certain level of limitation. And, it entirely depends on the kind of damage that needs to be covered and the circumstances that led to the damage. Here’s an example for you - if your guitar is damaged accidentally, your insurance policy will come as a savior for you. However, if you willingly thrash it for some reason or the other, your insurer will take off its hand from the matter.
4. Monthly premiums - Every String Instrument Insurance policy is different. So are the ways different insurance providers use to calculate your monthly premiums. Therefore, you should choose an insurance premium that you’ll be able to pay without interrupting your budget.
Shop Around and Choose the Best
There is no dearth of insurance service providers in the market. Therefore, it is highly advisable to shop around and do some research before signing any agreement with a given service provider.