Faqs To Consider While Choosing A Piano Insurance Policy

By Author: victor johnson
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If you have finally decided to buy a Piano Insurance, you have made a wise decision. Indeed! As a first-time buyer, you might have tons of questions spinning in your head, and it is quite obvious. Questions like - how to buy an insurance plan, what all options do you have, how much money you need to shell out, and everything in between is making you confused. Right? Relax.

Here we have curated some of the frequently asked questions with their answers to make your buying process easy and hassle-free. So, let's read on!

Who should buy an instrument-specific insurance policy?

Well, there is no rule or specified eligibility to buy musical instrument insurance. Anyone who owns a musical instrument, no matter if he or she is a student (18-years or older), a music teacher, collector, a professional musician, a corporation, a trust, or a shop owner, is free to buy instrument-specific cover. Some insurance companies also cover musical instrument repairers and appraisers. However, in any case, you should discuss with the insurance provider you intend to choose.

What kind of insurance policy should ...
... you purchase for your piano?

Well, it depends on two things - the type of your piano and the extent of coverage you want for it. To know the exact answer, it is advisable to talk to your insurance service provider and discuss your options.

Isn't your homeowner's insurance plan sufficient?

Some people depend on their home insurance to protect their musical instruments. If you wish, you can certainly go for it. However, there might be some perils in doing the same. Your home insurance plan is more likely to cover your keyboard up to a specific amount. Plus, it is likely to cover accidental damages only on certain chosen instances. Most importantly, even if you get a rider on your home insurance, then also it cannot provide you with the level of protection that a standalone Piano Insurance can provide.

Can you customize an instrument-specific insurance plan?

Yes, with a reputable insurance service provider, you can customize your musical instrument plans according to your needs. In fact, a good insurer will suggest policy customization.

What perils will musical instrument insurance cover?

Insuring your piano under a customized yet comprehensive policy will protect your instrument against loss, damage, and theft. It covers more perils in comparison to typical home insurance, including - fire, flood, and other elements of nature. And, the best thing - you are more likely to get a higher amount for your piano if it is extravagantly expensive. Remember, you are least likely to get it otherwise.

Why is good documentation needed to protect your piano?

Good documentation means keeping a record of your piano. It includes - the brand name of your piano, size, model, and serial number. It will be a good idea if you click pictures of your piano from time to time right from the very first day. It will help you record the condition of your instrument, the wear and tear it went through, and the damages. In case you need to repair or replace your piano, this recorded information will help you get the right amount of compensation.

Is an appraisal needed if you inherited a piano?

Yes, it is wise to get your piano appraised if you inherited it. So, find a certified appraiser and get it done to get the best value.

What if you want to make a change in your insurance policy?

Get in touch with your insurance dealer. Tell them about the change you want to make. They will help you with the entire process. In case you are looking forward to adding a musical gear, you will probably need the bill from a bonafide musical shop or dealer. Most insurance providers can also ask for an appraisal for the same.