Music Dealer Insurance: Who Needs It And Why?

By Author: victor12johnson
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Who is a music dealer? Or how do you define a music store or dealership? It is a retail or wholesale business that deals with selling musical instruments, accessories, and associated equipment. Moreover, some music stores also offer additional music-related services in exchange for extra charges. These services may include music classes, musical instrument rental, music instrument appraisal, or repair.

Music shops are of different types. Some focus on a full range of products that includes all categories of musical instruments. Some shops deal with only a subset of such categories, for example, digital pianos, acoustic guitars, etc., while some specialize in percussion and drums. You will also find stores that sell high-end or vintage musical instruments.

Did you know in Canada and the United States of America, there exists a fine line between Orchestra and Band stores and Combo stores? The former specializes in living up to the requirements of school-based music programs and their candidates, and the latter sells musical instruments and accessories for rock bands?

If you own a shop dedicated to selling ...
... musical instruments and providing additional services related to music, you need a comprehensive Music Dealer Insurance plan.

Why did music shops come into being?

Music stores came into being to meet the requirements of the local communities. These included schools, orchestras, civic bands, amateur musicians, and churches, to name a few. In order to offer best-in-class services to this wide range of clients, the music shop owners do focus on a niche market where they sell, rent, or lease musical instruments.

It was not very long before the music shops began to sell musical accessories, including microphones, digital music software, amplifiers, effect units, mixing desks, and sound recording machines.

There came the online counterparts

In the year 2010 and beyond, the brick-and-mortar musical shops got into competition with their online competitors. And that competition is still on. Therefore, whether you own a regular shop or an online one, having a copy of Music Dealer Insurance is a must-have.

What musical instruments and equipment can you find in a typical music shop?

Here goes the answer (the list is not all-inclusive though.)

● Acoustic guitars
● Piano
● Violin family
● Electric guitars
● Organ stores
● Pro audio
● Sheet music

Why not regular business insurance but a specialized insurance plan?

As far as regular business insurance plans are concerned, they are not formulated to take care of the needs of musical instruments or, to be precise, the music industry.

What if a high-valued musical instrument gets damaged while in transit to the customer? No business insurance policy will come to your rescue. However, if you have the right music shop insurance plan by your side, it will provide you with the best possible coverage.

In place of business, on rent, on a lease, or in transit - no matter where your musical instruments are, a dedicated insurance plan will make sure of the following coverage. Let us take a quick look at the below pointers:

● It will cover your products while on the go, both internationally and domestically.
● It will offer worldwide cover to the gears (protection against flood, fire, theft, loss, depreciation after an accident, and accidental damage).
● It will cover your products that are out on loan.
● It will cover any loss or damage suffered in transit.
● It will cover loss or damage caused due to elements of nature.
● It will cover the musical instruments if they are lost or damaged while being kept in an unattended vehicle.
● It will also provide you with coverage against cases of public liabilities (these are very much common these days).

So, this is how a dedicated insurance plan for music dealers protects your shop and finances from the unforeseen.

The bottom line

If you have been wondering whether or not you should buy this cover, hopefully, this piece of content will help you make the right decision. Dear reader! Always remember. Industry experts work hard and put a lot of research and dedication into formulating insurance plans. Therefore, it would always be wise to consider them according to your needs. If you are ready to buy an insurance policy for your musical instrument shop, research your options and then decide on a service provider.