Musical Instruments Insurance Tips To Make An Informed Choice

By Author: josephwhite
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For someone who dwells in music, losing an instrument is the biggest nightmare. Besides the emotional ordeal, the cost of buying new gear or even getting a replacement can derail your finances. However, there is one thing that can get everything in place in an unfortunate event of loss or damage to your musical instruments. Yes, that's Musical Instruments Insurance.

So, if you are a professional musician and you still don't have an instrument-specific insurance cover, you need immediate action. Misfortune never gives prior information, nor do you call it, after all. Although you cannot get your instrument back in case it is damaged beyond repair, lost, or stolen, you can at least save your skin from the financial distress.

Are you curious about the entire scenario, right from choosing the cover you want to find the right insurance service provider? Don't worry! To put an end to all your confusion, here you have some commonly asked questions about insurance plans designed for musical instruments. Hopefully, these will help you make your buying decision more informed.

Why do you need a musical instrument ...
... cover?

Covering your musical instrument under a dedicated insurance policy is crucial because it will save you when you are all caught up with a super-expensive bill. Sometimes, it does not matter how watchful you are with your gears because accidents are unforeseen and inevitable. For example - can you foresee your guitar being stolen or damaged? So, it would be smart if you do not leave anything to luck and chance and get your musical instrument covered. A comprehensive musical instrument will ensure that you are safe no matter how big the financial peril is.

What will you call an ideal policy? What should be covered?

Well, different people, different needs. So are the insurance policies - flexible and customizable. However, a standard musical instrument policy will ensure that your instrument is covered in cases of theft, accidental damage, loss, and fire damage. Also, if you opt for worldwide cover and public liability, you will be more secured and ready for the uncertainties. So, understand your requirements from the policy and talk to your service provider before choosing anything at random.

What will an instrument-specific policy cover but your home insurance will not?

If you play commercially, regardless of the time and monetary benefits, your home insurance will not cover your gears. However, your musical instrument policy will. Dedicated musical instrument insurance will also provide coverage to repair and damage scenarios and is most likely to compensate you for the replacement value. This is not all. There are many more differences between home insurance and a standalone insurance plan for your gear.

Is an appraisal a must for your musical instruments?

Well, if you own a vintage instrument or the price of your gear is very high, or you have inherited one, yes, appraisals are necessary. However, if you have got the photographs, serial numbers, and other documents in place, you might not need an appraisal. Make sure to confirm it or not you need one with your service provider beforehand.

What about public liability insurance? Do you need it?

This cover will come forward as a big-time savior if anyone else or their property has suffered loss or damage because of you and your gear. If you do not have this cover, then you will have to pay out of pocket if the third-party is injured or his or her property has been damaged. Medical bills and lawsuits are pretty expensive, by the way.

What if your musical insurance goes missing from your car or while in transit?

An insurance policy dedicated to musical instruments is likely to cover all the possible situations that can disrupt your career by stopping you from performing. For more details, you can get in touch with your insurance provider.

So, get yourself a Musical Instruments Insurance and take a deep sigh of relief.