UK Music

What is included in Musical Instrument Insurance?

If your musical instrument was lost or stolen, would you have the money to replace it?  Well thankfully, that is why they have musical instrument insurance.  Whether you are a solo artist, a collector or part of a band, you can get musical instrument insurance to cover so many facets of your hobby or career.

Millions of people own musical instruments of different kinds, but so few people consider what may happen if the musical instruments that you own get stolen or damaged.  Most people think that they are covered under their homeowners insurance, which may be fine in some cases, but not all.  If you have just a regular old instrument that you keep around for fun, then you are most likely going to be covered.  However, if your musical instrument is part of an investment of some sort or has a large value, then the extra benefits from musical instrument insurance can be quite important.  This can be essential for owners that value their instrument as part of their livelihood such as performers, entertainers or musicians that make money from playing their instruments.

Musical instrument insurance usually covers any type of instrument that you have up to the replacement cost or an agreed upon value if the instrument is considered to be a higher value or antique.  You can also use musical instrument insurance to cover your accessories such as bows, picks, sheet music, strings, instrument cases, sticks, tuning equipment, and more.

Musical instrument insurance policies can be written in a broad form or they can be limited as to what you have exactly.  It can cover your instrument mostly excluding household instruments that cannot be moved such as an organ or grand piano which will be covered in your homeowner’s insurance policy.  The broad musical instrument insurance will cover the more valuable instruments such as haps, violas, cellos and others, while the limited musical instrument insurance covers instruments owned by private individuals or groups to use in drum corps, orchestras, churches, etc.

The premiums that you pay differ depending on what the value of the instrument is as well as whether you are choosing the broad or limited form of musical instrument insurance.  You can choose a broad blanket insurance policy to add to your homeowner’s policy which is significantly lower than say choosing a limited policy that covers specific equipment.  The option to use blanket musical instrument insurance is useful if you have a lot of equipment related to your specific instrument.

Musical instrument insurance covers everything besides wear and tear, gradual deterioration, insects and other damages such as those.  You will be covered from fire, theft, and damage due to acts that were not caused by you.  If your instrument and accessories are valuable to you then you should not rely on your homeowner’s insurance.  Rather, you should get specific musical instrument insurance to make sure you are covered in case any problems arise because you don’t want to be left without an instrument or the money to replace it.

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