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Insurance For Musicians: Cover Instruments And Performances

February 12, 2023 
Last Updated on May 7, 2023

As a musician, your instruments and equipment are an essential part of your livelihood. Whether you're a performing artist, session musician, or music educator - having access to quality gear is necessary for earning a living while pursuing your passion.

Unfortunately, accidents and other unplanned events can happen, putting your equipment and career in jeopardy. That is why having the correct insurance coverage in place is so important - to safeguard yourself, your instruments, and income.

In this blog post, we'll explain why having insurance for musicians is so important and provide an overview of the types of policies available to choose from. Whether you're just starting out in the industry or have years of experience under your belt, this guide can help you comprehend its advantages and secure the protection that meets your needs.

What Insurance Coverage Do I Need As A Musician?

Guitars, amps, a drum set, microphone, and stand.

As a musician, you may require various types of insurance coverage depending on your individual needs and situation. Common forms of coverage for musicians include:

  1. Liability Insurance: This type of policy protects you in the event someone is injured or their property is damaged due to your performance or music-related activities. NOTE: Do not opt for professional or public liability coverage - instead, purchase commercial general liability coverage.

  2. Equipment Insurance: This type of policy protects your musical instruments and equipment against theft, loss, and damage.

  3. Health Insurance: Health insurance is essential for all musicians, as it covers medical expenses in the event of an injury or illness.

  4. Income Protection Insurance: In case you become disabled due to injury or illness, income protection insurance can provide you with a safety net to help cover your living expenses.

  5. Performance Bond Insurance: Performance bond insurance is often required by venues and event organizers, providing protection in the event of a performance cancellation or postponement due to an unforeseen event.

  6. Tour Insurance: Touring musicians should consider getting tour insurance to protect against potential risks like theft, equipment damage and cancellations. This type of policy provides coverage for a range of potential issues that could occur while on tour.

When selecting insurance coverage, it's essential to carefully consider your individual needs and circumstances as well as the coverage options available. Consulting an insurance specialist who specializes in serving musicians can be beneficial to ensure you get the correct coverage at a reasonable price. With the right insurance coverage in place, you can protect your livelihood and pursue your passion with confidence.

Related Article: How To Set Up A Home Recording Studio For Beginners

What Are The Limitations Of Musician's Insurance?

Similar to any insurance coverage, musicians insurance has limitations that may restrict the amount and type of protection you receive. Common examples of limitations on musicians insurance include:

  1. Exclusions: Most insurance policies contain exclusions, which are events or circumstances not covered by the policy. For instance, some may not cover theft or damage to instruments and equipment if it occurs during transportation or storage.

  2. Coverage Limits: Most insurance policies have limits on the amount of coverage they provide. For instance, there may be a cap on what you can claim for theft or damage to your instruments and equipment.

  3. Deductibles: Deductibles are the amount you must pay out-of-pocket before insurance coverage takes effect. Higher deductibles may reduce the cost of your premium, but they also mean you pay more out-of-pocket in case of a claim.

  4. Waiting Periods: Some insurance policies may have waiting periods, which are the amount of time you must wait before filing a claim.

  5. Pre-existing Conditions: When it comes to health insurance policies, some may not cover pre-existing conditions. These are ailments or ailments you had prior to receiving coverage.

  6. Geographic Restrictions: Some insurance policies may exclude coverage for events that take place outside the United States or certain other geographic regions.

It is essential to carefully read through your insurance policy's terms and conditions in order to comprehend any limitations or restrictions that apply. If you have any queries about them, speak with either your provider or an expert who specializes in serving musicians. By understanding these restrictions, you can make informed decisions about your protection needs and guarantee you have adequate protection in place.

Does Home Insurance Cover Instruments?

A man holding a card that says "homeowners insurance".

Home insurance policies typically provide coverage for personal property, including musical instruments; however, the extent of coverage can vary depending on the policy. Some policies may have limits on what can be covered for specific items like musical instruments and require additional endorsements or riders in order to provide full protection.

It is essential to check with your insurance provider to understand the coverage provided for musical instruments under your home insurance policy. You may need to purchase a separate policy or add an endorsement on top of your current one in order to guarantee that all of your instruments are fully protected.

Home insurance policies typically provide protection for personal property against loss or damage due to various perils such as theft, fire and natural disasters. However, some perils such as flood or earthquakes may not be included in a standard home policy and require additional coverage in order to be fully covered.

To guarantee the protection of your musical instruments, it's wise to keep a detailed inventory. This should include their make, model, serial number and value. Furthermore, you may wish to get an expert appraisal to ascertain their replacement value.

What About Renter's insurance?

A house with an umbrella over it that says "renters insurance".

Yes, renters insurance typically provides coverage for personal property including musical instruments. Renter's insurance provides financial security against loss or damage of possessions due to covered perils like theft, fire and natural disasters. The extent of coverage provided for personal items may differ depending on the policy and its specific terms and conditions.

Most renters insurance policies provide personal property coverage on an "all risk" basis, meaning the policy covers any loss or damage to personal property unless specifically excluded. However, certain items such as musical instruments may have limitations on coverage provided, so it's essential to know exactly what protections exist under your policy.

It is essential to regularly review your renters insurance policy and discuss your insurance needs with your provider in order to guarantee that all musical instruments are adequately covered. You may need to purchase additional coverage or endorsements in order to have complete protection for all instruments.

If you are looking for more protection and assurance than that of your homeowner or renter's policy, consider any of our 3 recommended providers below and learn about their liability and musical instrument insurance policies.

The Top 3 Best Musician Insurance Companies

There aren't a ton of insurance companies out there that offer extensive coverage for musicians. Many of the major providers will only cover instruments within your household under homeowners insurance. This doesn't help much for the performing musician. Let's now take a look at my 3 favorite musician insurance companies.

1. MusicPro Insurance

MusicPro Insurance logo.

MusicPro Insurance is a specialized insurance company that provides insurance coverage specifically designed for the music industry. They offer insurance solutions to individuals and companies involved in the music industry, including musicians, music producers, music venues, recording studios, and event organizers. They were created and are co-owned by ASCAP.

MusicPro Insurance provides a comprehensive range of insurance products and services to cover a variety of risks faced by the music industry. These products include:

  1. Any type of instrument (standard and classical)

  2. Recording Equipment (Home & Commercial Studio)

  3. Computer Hardware & Software

  4. Live Sound & Light Equipment

  5. Miscellaneous Accessories (cables, adapters, cases, and stands)

MusicPro Insurance provides two insurance solutions to meet the specific needs of a clients music genre. They provide "standard" which is for anyone who isn't doing classical music and then "classical" which is self-explanatory.

Overall, MusicPro Insurance is a one-stop solution for musical instrument insurance coverage, providing comprehensive and cost-effective products to help protect music professionals and their businesses.

MusicPro Insurance

Musical Instrument Insurance

2. Insurance Canopy

Insurance Canopy logo.

Insurance Canopy has been a leader in the field of business liability insurance. They are a mix of an insurance brokerage and a digital company. They help businesses of any size, from small businesses to large corporations, find the right insurance coverage.

Insurance Canopy offers strictly liability insurance for musicians, bands, and music educators. This means you are covered if someone is injured at your show, rehearsal space, or teaching facility. Below are some important facts.

  1. Provides both general and public liability insurance.

  2. (1-3) day policies start at $59.

  3. Yearly polices start at $199.

  4. Music educator insurance starts at $21.08 per month.

Insurance Canopy has earned the trust and respect of music industry professionals by providing comprehensive liability insurance coverage and support to help safeguard their financial stability and livelihood. With its focus on the music industry and commitment to excellent customer service, Insurance Canopy stands out as an invaluable resource for musicians.

Insurance Canopy

Liability Insurance

3. Thimble

Thimble Insurance logo.

Thimble is a technology-driven insurance company that offers on-demand coverage for small businesses and freelancers - including musicians. Established with the mission of making it simpler for entrepreneurs and small business owners to access tailored insurance solutions tailored to their individual requirements, Thimble strives to be an indispensable partner in helping those in the entrepreneurial space gain peace of mind.

Thimble offers musicians both general and professional liability coverage. This coverage includes:

  1. Bodily injury

  2. 3rd party property damage

  3. Defense costs

  4. Medical coverage

  5. Errors & Omissions within a contract you signed

Thimble's insurance coverage can be purchased on an as-needed basis, making it ideal for musicians who only perform occasionally. With just minutes of activation through their app, musicians can get the coverage they need to safeguard their livelihoods.


Liability Insurance

Which Provider Should I Choose?

If you are strictly looking to cover your equipment then MusicPro Insurance is for you. If you are performer or educator then you will want to consider Insurance Canopy or Thimble. Both Insurance Canopy and Thimble offer great coverage so it comes down to pricing in the end.

My Recommendation: If you are a performer and own equipment, you should get MusicPro and either Insurance Canopy or Thimble. By taking this route, you will be covered from all possible threats a performing artist may encounter.

Final Thoughts

By investing in the correct insurance coverage, you can protect your musical equipment and instruments as well as health and income. No matter if you're a performing artist, touring musician, or recording artist - there are insurance options available that can protect both you and your livelihood. Don't wait until it's too late to secure the protection that you need; take time to research all available options so that you're fully covered for life's unexpected events.

"Some of the links within this article are affiliate links. These links are from various companies such as Amazon. This means if you click on any of these links and purchase the item or service, I will receive an affiliate commission. This is at no cost to you and the money gets invested back into Audio Sorcerer LLC."

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