Musical Instruments Insurance: Frequently Asked Questions

By Author: josephwhite176
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Are you a musician, a professional one? Do you have a specialized cover for your musical instrument? If yes, then you are wise enough. And, if not, you may need to give it a second thought. The reason? Having a dedicated musical gear insurance policy can save your skin when you need it the most.

Can an insurance plan prevent an accident?

Many people opine - if specialized insurance cannot save your musical gear, what is the point in having one? You can always stick to your home insurance policy for protection.

Dear reader! Indeed, an instrument insurance plan cannot stop an accident or prevent emergencies involving your musical instruments. However, it can save your finances. It can support you to get out of the mess and get a new musical instrument or work out an alternative solution.

Are you confused or curious to know more about instrument insurance? No problem. We have curated some of the most commonly asked questions about the same.

Hopefully, these will help you understand the musical instruments insurance policy in a proper way. So, let ...
... us get started!

Standard home insurance and dedicated instrument insurance. What is the difference?

If you play your gear professionally, an insurance policy designed for musical instruments will cover your gears. However, your standard home insurance policy will not. The former also protects you against damage and loss and will pay for repairs and replacement. Also, the deductibles of a specialized insurance plan are lower than home insurance. So, there lies the difference. But, these are not the only differences.

Specialized insurance policies cover damage and repair. Is it true?

Well, that entirely depends on the policy you have selected. However, your broken musical instrument will be sent for repair, and an estimate after evaluation will be sent to your insurance provider. So, what is a big deal in it? The big deal is - if your woodwind, string, brass, or any other gear suffers a value loss as a result of the damage and the process of repairing, your insurance provider is likely to reimburse for the diminished value.

Are musical instrument insurance policies affordable?

Considering the level of protection these policies offer, these make value for money deals for sure, provided you choose the right insurance provider. However, it is always wise to check with your insurance provider when it comes to premiums and other charges.

You made a claim. What next?

Once you file a claim and submit all the necessary details, your insurance provider may ask you to produce an appraisal (if repair is done). You can expect the payment by the time your musical instrument is repaired. In case of theft and total loss, you are likely to get compensated quickly.

Are appraisals crucial?

If you own vintage gears and high-value instruments, getting an appraisal is important. These pieces are not only valuable but eternal and priceless.

Your gears need extra protection.

So, now that you know about some of the vital aspects of musical instruments insurance, when are you planning to get one? Always remember, a stroke of misfortune can hit you at any point in time. Therefore, planning ahead of time is necessary. Or else, the consequences can shake you from within.

You will find many home insurance providers claiming to provide comprehensive coverage to your gear. However, if you play professionally, make sure to get individualized cover for your gears. The reason? Your home insurance plan may disappoint you when you need it.

Home insurance plans are incredible. However, as far as musical instruments are concerned, they might not be enough, and you need something more.