Types Of Insurance Coverage Some Piano Instruments May Need

By Author: victor12johnson
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Many households in the US have pianos sitting right in the center of their living rooms. Some people play them as a hobby. Some are professional pianists, while some have got theirs as a part of their family legacy. Some people also have in-home music recording studios housing many musical instruments, including the piano. It goes without saying that pianos are expensive. And the cost of repairing or replacing them may also burn holes in your savings.

In light of the expenses involving buying or repairing a new piano if it is damaged, many musical instrument owners think - it is necessary to purchase a separate Piano Insurance policy, or can they count on their home or renters insurance plan to cover the same?

Although the latter (home or renter insurance plan) covers musical instruments in case of damage, there are some crucial pointers that you should be aware of. Your home insurance plan, like most non-specific plans, is likely to cover your piano up to a certain value, a limited one. And it often does not cover accidental damages.

So, ...
... if your piano is highly-valued, make sure to buy it a dedicated insurance plan instead of considering your home insurance. Your musical instruments need more protection than you think they need. And, in case you fail to get it the same, you are more likely to end up hitting a rough patch if something happens to your gears.

Let us find out the type of insurance coverage your piano may need. Keep reading.

Public Liability Cover

If you are a paid performer or a professional musician with the crowd all around almost all the time, you should not ignore the importance of public liability cover.

For example, an organization hired you to perform in a public gig. While everything was going well, someone from the audience got injured. It was due to an amplifier falling over his head out of the blue. Even if it was an unfortunate accident, you were held responsible for the mishap, and the third party (the injured person or his family) filed a compensation claim against you.

Counting the cost of medical bills and legal fees can be detrimental to your finances. It is where public liability cover comes into play. This cover will take care of all the expenses incurred due to the given accident. You will not have to shell out even a penny out of your pocket.

Also, it is a misconception that only professional piano players or musicians need this cover. However, the reality is everyone who owns a musical instrument should consider getting the public liability cover.

Property Damage

Picture this: Scenarios #1 There is a minor fire in your home. You may not learn or realize later on that your piano also suffered considerable smoke damage caused due to the fire.

Scenario #2 A tree fell on the roof of your home while damaging some portions inside your home, including the grand piano.

Scenario #3 A water pipe in your kitchen suddenly burst, causing the water to flood several areas of your home, including the piano corner.

These are some of the many scenarios that may cause severe damage to your musical instruments. And as a piano is a very sensitive musical gear, it may suffer loss or damage easily. Therefore, it is highly advisable to have a separate musical instrument insurance plan for your piano instead of considering your home insurance only. Your home or renters insurance is less likely to cover your gears comprehensively. So, after something bad happens and you feel incompletely covered, it is better to buy an all-encompassing coverage.

Transportation Cover

Your home insurance plan is least likely to compensate for the expenses incurred due to transportation damage to your gears. However, such accidents are very common where your musical instruments get damaged, misplaced, stolen, or lost while in transit. What would you do if something like this happened to your gear? What if your piano is damaged while in transit? Repairing or replacing could be super-heavy on your finances for sure. And you already know that home insurance plans do not cover such cases. So, only a dedicated musical instrument insurance plan can become your savior here. It will cover your musical instruments for all kinds of damage or loss.

Loss of Income Cover

What if you are a musician by profession and it is the only source of your income? What if the musical instrument that holds the center stage of your performance is damaged, affecting your livelihood? Your home insurance will not cover such scenarios. However, a dedicated Piano Insurance plan will cover loss of income.