Musical Instruments Insurance: Frequently Asked Questions

Are you a musician, a professional one? Do you have a specialized cover for your musical instrument? If yes, then you are wise enough. And, if not, you may need to give it a second thought. The reason? Having a dedicated musical gear insurance policy can save your skin when you need it the most.

Can an insurance plan prevent an accident?

Many people opine - if specialized insurance cannot save your musical gear, what is the point in having one? You can always stick to your home insurance policy for protection.

Dear reader! Indeed, an instrument insurance plan cannot stop an accident or prevent emergencies involving your musical instruments. However, it can save your finances. It can support you to get out of the mess and get a new musical instrument or work out an alternative solution.

Are you confused or curious to know more about instrument insurance? No problem. We have curated some of the most commonly asked questions about the same.

Hopefully, these will help you understand the musical instruments insurance policy in a proper way. So, let us get started!

Standard home insurance and dedicated instrument insurance. What is the difference?

If you play your gear professionally, an insurance policy designed for musical instruments will cover your gears. However, your standard home insurance policy will not. The former also protects you against damage and loss and will pay for repairs and replacement. Also, the deductibles of a specialized insurance plan are lower than home insurance. So, there lies the difference. But, these are not the only differences. 

Specialized insurance policies cover damage and repair. Is it true?

Well, that entirely depends on the policy you have selected. However, your broken musical instrument will be sent for repair, and an estimate after evaluation will be sent to your insurance provider. So, what is a big deal in it? The big deal is - if your woodwind, string, brass, or any other gear suffers a value loss as a result of the damage and the process of repairing, your insurance provider is likely to reimburse for the diminished value.

Are musical instrument insurance policies affordable?

Considering the level of protection these policies offer, these make value for money deals for sure, provided you choose the right insurance provider. However, it is always wise to check with your insurance provider when it comes to premiums and other charges.

You made a claim. What next?

Once you file a claim and submit all the necessary details, your insurance provider may ask you to produce an appraisal (if repair is done). You can expect the payment by the time your musical instrument is repaired. In case of theft and total loss, you are likely to get compensated quickly.

Are appraisals crucial?

If you own vintage gears and high-value instruments, getting an appraisal is important. These pieces are not only valuable but eternal and priceless.

Your gears need extra protection.

So, now that you know about some of the vital aspects of musical instruments insurance, when are you planning to get one? Always remember, a stroke of misfortune can hit you at any point in time. Therefore, planning ahead of time is necessary. Or else, the consequences can shake you from within.

You will find many home insurance providers claiming to provide comprehensive coverage to your gear. However, if you play professionally, make sure to get individualized cover for your gears. The reason? Your home insurance plan may disappoint you when you need it.

Home insurance plans are incredible. However, as far as musical instruments are concerned, they might not be enough, and you need something more.

Top 4 Reasons Why Flute Insurance is Critical

When you hear Flute Insurance, what is the first thing that comes to your mind? Is it - I do not need it? I have enough home insurance coverage, or I take more than enough care of my gear. So, no mishap can touch it?

Perhaps, you do not think alike. That is why you are here. For those who believe that their home insurance or renter insurance policy will cover their musical instruments, it is time to reconsider your viewpoint.

Dear musical instrument owner, your home insurance plan is designed for protecting your property and its belongings. In this context, yes, it will cover your woodwinds or strings. You may also get an additional rider to increase the extent of coverage. However, that might not be enough for all. Going through this piece of content will help you understand why even the most expensive home insurance policy falls short when it comes to comprehensive musical instrument coverage.

Reasons why home insurance plan is not enough for your Flute

Reason No 1: Home insurance cover offers limited coverage

Although your home insurance plan will cover your musical instruments as a part of your belongings, it is less likely to offer full-risk coverage. However, if you buy an instrument-specific insurance plan from a reputable insurance provider, you are most likely to enjoy full-risk coverage benefits. Here full-risk cover means protection against almost every adverse situation, except a few like intentional damages, government confiscation, etc.

Reason No 2: Home insurance is unlikely to cover instruments used for commercial purposes

If you are a professional musician, beware! Home insurance policies (regardless of where you have taken it from) do not cover musical gears used for commercial purposes. No matter even if you have played professionally for 1 hour in exchange for only $100, your instrument will not be covered by your home insurance plan. So, if any accident happens, you will not get compensated by your insurance provider. However, Flute Insurance will cover the gear that you use for commercial purposes.

Reason No 3: Home insurance policy will not cover your gear worldwide

Your home insurance plan will not cover your musical instruments outside your home. So, if your flute gets damaged or stolen from a recording studio, for example, your home insurance plan would be of no use. However, if you have purchased a musical instrument insurance plan, your gears will be protected not only outside your home but no matter where you are in the world. Worldwide coverage is an added advantage of specialized musical instrument insurance.

Reason No 4: Home insurance policy will not cover the accessories

Musical instruments are crucial and expensive. So are the related accessories. Any loss or damage to the accessories can also create problems for you. With a home insurance plan, you are least likely to get protection for the accessories. So, in case of any loss or damage to the accessories, you remain unprotected. However, with a standalone musical instrument cover, your accessories are also protected.

Required documentations

These are some of the most evident reasons why you need a dedicated insurance plan for your musical instruments. If you need more information on musical instrument insurance plans available in your state, you can get in touch with a reliable insurance company. However, before buying a plan, make sure to check the following things to ensure that the service provider you intend to choose is worth it:

●    A valid license
●    Relevant certifications and credentials
●    Memberships with relevant bodies
●    Positive customer reviews
●    Price quote

When a service provider has or offers all these things without hesitation or proactively, you can choose them easily. 

Flute Instrument Insurance and Its Coverages

Musical instruments are integral to a musician’s life and living. Hence, they go the extra mile to make sure that their musical gears and concerning accessories stay safe and protected. So, what kind of instrument do you play? If it is a flute, then you have come to the right page. Regardless of the years of professional experience and standing, every flute owner should have a dedicated insurance plan for his/her instrument in place. It ensures the complete safety of the gear against unexpected situations.

Still, relying on your home insurance?

Like many other musical instrument owners, if you consider your home insurance plan to be your savior in the tough times, you might be making a mistake. Yes, you heard it right. So, before we move on to what coverage options you are likely to get with a standalone Flute Insurance, let's find out how and when your home insurance does not come in handy.

●    Most home insurance plans are likely to have a limited extent of coverage for musical instruments with a number of ifs and but in the listicle. However, an instrument-specific plan covers it all.

●    When it comes to responding to an insurance claim, most home insurance plans will not show up or reply to your claim if you have been using your gear commercially. In such cases, they consider it as a professional or business use. So, if something happens to your flute during a paid performance, your home insurance is least likely to pay. However, Flute Insurance, with a reliable musical instrument insurance company, covers both casual, as well as, professional use.

Although many other reasons tell that only your home insurance is not enough to offer comprehensive coverage to your flute, the above-mentioned pointers say it all. Isn’t it?

Coverage options you get with a dedicated Flute Insurance

Now that you are aware of the limitations of your home insurance plan, let us have a look at the coverage options you are likely to get with a reputable and customer-oriented musical insurance instrument provider.

●    An instrument-specific insurance plan offers complete coverage to your flute, no matter whether you use it for professional or personal use. And, it is available at no extra expense.

●    You are most likely to get all-risk cover options when you choose a trustworthy insurance company.

●    Irrespective of where you are on the earth, your flute protection plan will continue to cover your gears. Yes, we are talking about worldwide coverage. It is especially a good thing for touring artists.

●    An added advantage of buying a dedicated insurance plan from a good insurance company is - you can tailor your policy according to your needs and budget. So you do not have to pay for a cover or a clause that you do not need.

What types of coverage are you likely to get with a dedicated insurance plan?

The types and extent of coverage might vary from one insurer to the other. However, the standard coverage you are likely to get might include the following:

All-peril cover: It means that your gears are protected against all risks. It includes - flood, earthquake, thunderstorm, rain, theft, vandalism, robbery, and accidental damages.

Public liability cover: It is one of the most important coverage options that all musicians and musical instrument holder’s must-have. As the name suggests, it protects you against public liabilities. And needless to mention, such liabilities associated with your professional can be very expensive and mentally draining.

These are two of the most critical coverage options you get with an all-encompassing insurance policy. So, do not wait anymore and get the best insurance protection plan for your musical instruments.