**Guest post written by Don East of Killer Rig Music in the USA.

"No one ever plans on their instrument being damaged or stolen, but the unfortunate truth is that accidents happen all the time. That's why it's important to have insurance for your musical instruments. This way, you can rest easy knowing that they are protected in case of an emergency.

In this article, we will discuss the importance of musical instrument insurance, and touch on some of the policies to consider.

What is Musical Instrument Insurance and What Does it Cover?

Musical instrument insurance is a type of insurance that helps to protect your equipment in the event of damage, theft, or other loss. The coverage can vary depending on the policy. Still, it typically includes protection for the full value of the instrument, as well as any associated costs, such as repairs or replacement.

Musical instrument insurance can sometimes cover the costs of other related expenses like injuries to hands etc. While it's not required, musical instrument insurance can be a wise investment for any musician, especially if the instrument is used to earn a living or is valuable or sentimental.

For a relatively small monthly premium, you can have peace of mind knowing that your instrument is protected in case of an accident or loss.

+Are you Ready For When Something Horrible Happens?

What are the Benefits of Having Insurance?

Any musician knows that their instrument is more than just a piece of equipment, it's an extension of their creative identity. So it's no surprise that the loss or damage to a musical instrument can be devastating. That's where musical instrument insurance comes in.

Instrument insurance can provide financial protection in the event of loss, theft, or damage. There are a variety of policy options available, so you can choose the coverage that best meets your needs.

Whether you're a professional musician or a hobbyist, instrument insurance is a wise choice for anyone who depends on their musical instrument for their livelihood or enjoyment.

Types of Insurance for Musicians

There are a few different types of insurance a musician should consider, depending on their circumstances and needs:

1. Liability Insurance: Protects you in the event that someone is injured while at your gig or rehearsal, or if you damage someone else's property.
2. Equipment Insurance: Covers the cost to repair or replace damaged, lost, or stolen musical instruments and gear.
3. Band insurance: Often includes both liability and equipment insurance for groups of musicians who play together regularly.
4. Tour Insurance: Protects bands and solo artists during performances and tours, covering the cost of canceled shows, lost income, and more.
5. Body part Insurance: Some professional athletes and performers take out insurance policies to protect themselves against the loss of a limb or other body part that is essential to their occupation.

There are a variety of policy options available, so be sure to choose the coverage that best meets your needs.

+Health Insurance For The Independent Artist

How Much Does Musical Instrument Insurance Cost?

When it comes to insuring your musical instruments, there's no one-size-fits-all solution. The type of instrument, where you keep it, and how often you play all affect the cost of your policy. For example, a grand piano will be more expensive to insure than a guitar.

And if you frequently take your instruments on the road, you'll need coverage for transport and loss or damage while away from home. To get an idea of how much insurance will cost, get quotes from several companies and compare policies.

Be sure to read the fine print, so you understand exactly what is and isn't covered. Once you find the right policy for your needs, you can rest easy knowing your instruments are protected for the best price.

Doesn't Home Insurance Cover My Equipment?

Home insurance policies typically have limits on how much they will pay for musical instruments, and in some cases, they may not cover them at all. If you have a guitar worth $50,000, they may not give you the amount it's worth as a result. Especially if there is little to no recorded information about it.

In addition, most home insurance policies have a deductible that must be met before the policy kicks in. And if you gig with the equipment, and it gets stolen or damaged outside the home, chances are it will not be covered at all.

For these reasons, it's important to have a separate musical instrument insurance policy to ensure your instruments are properly protected.

+Your Gear Will Get Stolen

Make Sure To Keep Records of Your Instruments

If you ever need to make a claim on your musical instrument insurance, you'll need to have proof of ownership and value. The best way to do this is to keep records of your instruments, including receipts, photos, and appraisals.

It's also a good idea to keep a list of the make, model, and serial numbers of your instruments and any modifications or upgrades you've made. This will help the insurance company determine the value of your equipment if it's ever lost or stolen.

By taking some time to document your instruments now, you'll be glad you had if you ever need to make a claim. It's also a smart idea to keep these records even if you currently do not have insurance. This can help find them in the event of theft.

Speak With An Insurance Broker

If you're not sure what type of musical instrument insurance you need, or how much coverage to get, it's a good idea to speak with an insurance broker. They can help assess your needs and find the best policy for you.

An insurance broker can also explain the different types of coverage available and help you compare quotes from different companies. This can save you time and money, and give you peace of mind knowing you're properly protected!"

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