The Inside Story on Insurance for Musicians and Musical Instruments

Music plays a significant role in our lives, whether it be a baby’s lullaby, a classical composition, or current pop music. A song’s ability to entertain, uplift, make us laugh or cry, get us moving, or engage us in the moment unlike anything else.

Although the ability to make music can be learned, the true artist has it innately from birth; this talent is strong and affects everyone who hears it.

But the risks faced by the professional musician are undeniable, just like those faced by any entertainer or public performer. Due to the variations in each type of music player, different people are exposed to different risks.

What variables impact how the exposure varies? You might say they can be categorized by the following issues:

1. What type of musical instrument the musician uses

2. What type of audience the musician plays for

3. What type of management the musician uses for performances and business distribution of music

The type of musical instrument used, in order to answer question one, really depends on the instrument. There are differences between a guitar and a grand piano that no one will contest, and there are also differences in the risk of harm or injury. But there is still another difference, and it has to do with value. The price of the trombone, saxophone, fiddle, harp, violin, drum set, and other instruments vary, just as it does for the guitar and piano. Insurance for the more expensive instrument will undoubtedly be more complicated.

Of course, the audience that the performing musician plays for is the second factor to take into account. It stands to reason that the exposures for a special event held in a large outdoor stadium with seating for thousands and one for only 100 attendees would be different.

Naturally, a musician who handles everything on their own, including getting hired and having their music produced for the general public, will need to get busy securing the appropriate type of coverage, as opposed to a musician who works with a talent agent who handles bookings, recordings and distribution, travel arrangements, and related commercial insurance coverage.

It’s time to reevaluate for musicians who believe their homeowners insurance will protect them in the event that their musical instrument is stolen, lost, or damaged. The amateur player is the only one covered by a typical homeowners policy. Professional musicians need a floater that provides coverage for exposures that may arise while transporting their musical instruments by car, truck, van, etc.

Music to the Ears in a Different Sense

In order to determine the kind of coverage that is best for them, the musician must speak with a knowledgeable independent agency.

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