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Musical Instrument Insurance 101 – A Simple Guide for Beginners

As a musician, you must know how valuable your instruments are. Not only do they represent a significant financial investment, but they’re also important tools that allow you to create beautiful music.

If something happens to them, you want to be sure that you will be able to replace them. It is, therefore, essential to protect your instruments from damage or theft by purchasing musical instrument insurance.

Important Considerations for Musical Instrument Insurance

When it comes to insuring your musical instruments, there are a few things you need to keep in mind.

1.   Note Down the Instruments You Need to Get Insured and Their Values

First and foremost, you must create a list of all the instruments you want to insure. This includes big items like your piano or guitar and smaller equipment like your microphone or amp.

Once you have this list, you must determine the value of each item. This can be done by researching the item’s replacement cost or by getting an appraisal from a professional.

2.   Find an Appropriate Insurance Policy

Once you have determined the value of your instruments, you need to find an insurance policy to cover them. You can choose from a few different types of policies, so it’s important to do some research to see which one will be the best for you.

You can get insurance through a music store, an online provider, or a specialized insurer.

Some musical instrument insurance programs cover musical tours and events to protect your investment. See what suits your needs best and go for it.

3.   Evaluate the Policy Terms

Once you have found an insurer you’re happy with, you need to ensure you understand the terms of the policy. Inquire about what’s covered and what’s not. You should also see if you’re comfortable with the deductible.

4.   Take Good Care of Your Instruments

Getting musical instrument insurance is no excuse to be careless with your instruments.

Clean them regularly, keep them tuned, and avoid overusing them to keep them in good shape for a long time. Additionally, use high-quality traveling cases to avoid damage to your instruments when you’re on the go.

Furthermore, it’s best to tint your vehicle’s windows or buy blinds to prevent people from seeing what’s inside, considering the rise in musical instrument theft. We also recommend against putting band stickers on the vehicle or instruments.

Even at home, you must place your instruments in a safe room in a closet with a deadbolt lock. Installing security alarms on exterior doors is also a good practice.     

Final Thoughts

Your instruments are a valuable investment, and you must do everything to keep them protected.

Unfortunately, many thieves target musicians and bands and are often successful at stealing expensive instruments.

Insurance can give you peace of mind in case something happens to your beloved instruments. And honestly, it’s not a lot of money to spend to protect something you rely on to make a living.

Eric Dalius
Author: Eric Dalius

Eric Dalius is The Executive Chairman of MuzicSwipe. In this position, he acts as key advisor and lead strategist, helping to guide the company’s plan to redefine the music discovery process. Yahoo Finance has noted the company’s positioning to ultimately work with music labels and distributors, helping to grow their artist rosters on a global basis.Mr. Dalius comes to his role having spent three decades as a serial entrepreneur with multiple successes.

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