Are there any musicians in your family? If so, then you may want to look into musicians insurance. It provides a type of coverage that isn’t adequately provided for in homeowners insurance or other types of policies. This is the type of insurance that most people don’t think about getting until it is too late.
Musical instruments are expensive. This is true no matter what type of musical instrument a person plays. It cost quite a lot of money to get a guitar, or a bass, or a drum kit. You are also going to need microphones, microphones stands, amps, and plenty of cords to plug everything in with. It all adds up.
Homeowners insurance can cover your personal property that is located inside your home. There are steps that you can take to inform your insurance company about the expensive items you own. Typically, this includes things like home computers, televisions, tablets, smartphones, and power tools. It can also cover less expensive things like clothing, furniture, and household items.
If the musician in your family mostly plays his or her musical instruments at home, then you might not require more than coverage from a homeowners insurance policy. However, that might not provide coverage if something happens to your musical instrument outside of your house.
For example, let’s say that a musician puts her guitar into her car, and then goes into a venue that she is about to play in to check in. When she returns to her car, she discovers that someone has broken in and taken her guitar. A homeowners insurance policy is not going to cover this loss.
However, a car insurance policy might. Most auto insurance policies will provide coverage for the items that have been stolen out of your car. They will write you a check for a portion of what the stolen items were worth. It isn’t going to be enough to replace a guitar, though. Another thing to keep in mind is if the car catches fire and is a complete loss, the car insurance policy isn’t going to cover the instruments and gear that were inside it, and were destroyed.
Musicians who are going on gigs, or who are making their living with their musical instruments, might want to consider getting a musicians insurance policy. This type of policy can be used to cover your instruments, and your gear, in case something bad happens to them.
Image by Thomas Cowart on Flickr