As a musician, you might not lead an entirely ordinary life, but going to gigs, rehearsing, traveling and moving your gear are the perfect way of life for you. But at home or on the road, anything can happen to derail your ability to perform and cost you a whole lot of money.
Musicians need insurance that is not ordinary, either. Relying on a basic homeowners or renters insurance policy simply won’t cut it. You need a knowledgeable independent insurance agent and specialized musician insurance so you can entertain without worry.
Your music is your life, and it’s your business. As a business owner, you need to protect your livelihood and your ability to continue to perform and earn a living.
You probably already know that anything can happen while you are playing a gig, or even while you are at home or in your studio rehearsing. You can’t leave your expensive or rare equipment unprotected. Here are just a few examples of how you can lose your equipment, and your livelihood:
Just as scary and potentially more costly: you can be sued for damaging someone else’s property or causing an injury. Anyone can be sued for any reason, and it would be naïve to think that you would not be held accountable for a concertgoer’s injury or damage to a venue that occurs during one of your shows.
You might think that most of these circumstances would be covered under your homeowners or renters insurance policy, especially if you have a home-based studio. Your homeowners insurance policy might offer some coverage, but you probably won’t be able to replace your damaged gear with items of equal value.
Most homeowner insurance policies have per item or category limits. This means that, for example, you might have coverage for musical instruments or equipment up to a limit of $2,500. If your $10,000 vintage guitar is damaged in a fire, you will only receive $2,500 to replace it.
What’s more, most homeowners insurance policies specifically exclude coverage for business property. If your musical instruments and gear are your business, they may not be covered by homeowners insurance.
Musicians insurance is designed to cover the unique risks that musicians face while in the studio and on the road. It covers your expensive instruments, equipment, and gear at appropriate values and wherever you take it. And it protects you from the costs of lawsuits that arise when you are associating with and playing for the general public.
Remember that these policies have some coverage exclusions. If you intentionally damage your equipment or a venue, all bets are off.
You might think that you can’t afford specialized musician insurance, but it would be more costly if you had to replace your gear or defend a lawsuit on your own. The cost depends on how much gear you need to cover and its value, but you might be able to secure coverage for a few hundred dollars per year.
It’s important to get some help from an independent agent who can help you shop around, and who can work with insurance companies who specialize in coverage for musicians.
An independent agent can work with you one-on-one to determine the types and amounts of coverage you need. Your agent can get quotes from multiple insurance companies so you can evaluate the cost and coverage options and make the best choice.
Our agents simplify the search process for finding the right musician insurance. They’ll walk you through the handpicked policy options and explain the details and options.
Most importantly, they’ll be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
Online quotes can be tempting. They are fast and easy to get—but are they accurate? And are you getting quotes for the right coverage? For any type of business owner—including a musician—choosing speed over accuracy can cost you.
Online quotes can’t and don’t see the whole picture. They can leave out important coverage that will leave you devastated if something unexpected happens. And they can leave out cost-savings opportunities that an agent can help you take advantage of.
Instead of getting an online quote, find an independent agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs.