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What You Need To Know About Insurance For Musicians

By Author: Micheal Jordan
Total Articles: 16

You know what's sad and troubling - the fact that your gear is vulnerable, and your life as a musician is not as safe and secure as you thought it to be. Yes, your gear can be stolen, and your instrument can be damaged.

If you are a traveling musician, you would know how every travel is like a silent prayer. You wish your instrument is safe in the cabin, and nothing happens that damages it. The documentation you need to make sure your travel is easy and smooth, the whole carrying it forward, and the prayers make your life as a traveling musician difficult.

With no extra money to spend you depend on your homeowner's insurance. Does it actually cover your travel and the gear costs during travel?

Not all homeowner's insurance includes coverage for the gear, especially during travel. In fact, if you were to check the homeowner's insurance, you would find that most of them cover your instrument only at your home, the primary business place. Move the instrument out of your home, and you are really not sure how to pay for all the damages.

How can you get over this issue and make sure you don't face losses when traveling with your gear?

Replacement or cash

If you own a super specialized gear, you might want it replaced and get another that is quite similar. This means, you would want to include the replacement in your insurance cover. However, this also means adding more money to the premium you are about to pay.

If you own a very normal instrument, then you can actually invest in a cost-effective insurance, which will cover the basic cost of buying a second hand instrument. If you don't want to replace it, then you can check with the insurance provider about the cash value for the instrument you own. You will need to dig a little deeper into the replacement vs cash when investing in insurance.

List your coverage

When it comes to investing in insurance for musicians, you should ideally list the gear you own and try to estimate the approximate value of the gear. Make sure you estimate the true worth of the gear as of today. Compare it with the original price of the gear.

Your gear might include items that are no longer manufactured today, and you might want to estimate the value of replacing it. The homeowner's insurance may not cover all your needs or even the true value of the gear you own. You may need a simple insurance that covers your gear needs and insures them.

Travel and more

The insurance will make traveling with your gear easy for you. in case your gear gets damaged or stolen, the insurance will take care. In fact, it is a great deal for musicians as they won't have to spend money the gear replacement or repair. It will also help you get an instrument on rent if something goes wrong. The insurance will also cover your payday in case you are ill and unable to attend the concert you have traveled for.

A good insurance can be quite a deal for you!

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