Musicians insurance

jjozwia

Power User
Haven't seen a thread on this in awhile and my renewal is upcoming

Homeowners/renters/auto/etc. may not cover your gear unless you have a special rider or may only cover a certain value. If you are a gigging musician your gear may also be excluded since that shifts it over to business use

Anyhow, good to chat with your agent to understand what coverage they may or may not include so you can grab a rider or musicians insurance if needed

Cheers
 
The OP is great reminder to have that conversation with your insurance agent, so a shout out to jjozwia for the post. I am retired now, but when I was working I was a risk management consultant for one of the largest insurance carriers in the world. I cannot begin to count the number of insurance disputes that were caused because the client thought they had coverage that the language of the policy did not cover. Simply put, they assumed they had coverage that they did not have. Most of my clients were Fortune 100 corporations, many with very complex international exposures. A few focused questions with your insurance agent can save a lot of anguish if you have a loss. There are many options to get coverage for your gear, depending on your particular situation, and how and where you use your gear. Many of us have spent mega-thousands of bucks on gear, with only policy assumptions to protect our investment. Have that chat with your agent.
 
I have a policy with MusicPro insurance. They're easy to deal with and don't require an appraisal for your gear. You can get up and running that day. I have about 40 grand worth of stuff insured for around $500/year. It covers "oops I dropped it" type accidents and theft away from the home.
 
I have seperate policy for my main gigging equipment and my wife's expensive Jewlery. Well worth the cost. Mine is through Allstate insurance.
 
In the UK, a normal Home policy will not cover any item used for professional use, unless specially agreed, so if you earn anything at all out of playing you would not be covered. I have separate insurance for all my gear that covers me for professional use. I was once told by a claims person that even professional grade gear should not be covered on a Home policy as it may not be properly covered. I spend about £400 a year in total on 3 policies which, to me, is worth the peace of mind.
 
I've called Allstate to inquire about adding a music equipment rider to my homeowner's policy. Some people have said you should ask about an "inland marine" policy, but no one at Allstate I've talked to knows what that is. Allstate wanted appraisals and receipts for everything and it would only be covered on my premises. So, that's why I went with a specialized company that works directly with musicians.
 
inland marine coverage is property insurance for property in transit over land, certain types of moveable property, instrumentalities of transportation (such as bridges, roads, and piers, instrumentalities of communication (such as television and radio towers), and legal liability exposures of bailees. A bailee is a person to whom you have entrusted your property, without actually transferring ownership, such as a repair tech.
 
Ballpark what you pay? Like @Ben Randolph I'm paying $500/year through Heritage. But it's pretty inclusive -- accidents, etc. are all covered.

That's around what I pay. Coverage is anywhere in the world as well as borrowed gear. They have a web app for when you get new gear (which I do frequently) you can add it. It'll calculate your premium change and you can pay the difference online. Also, there's new gear coverage up to 30 days.
 
State Farm wasn't going to cover it anytime it was out of the house, so I talked to some in the know and went with Musicpro Insurance for all of my gigging gear. I haven't had to make use of it but they have been fast and responsive of questions and updates on my account. I feel like they'll take care of business when the time comes (which I hope is never).
 
They're also called a "floater". Ask them about that. Any semi-trained agent should know that term (and really, what an inland marine is, too... lol).

I've called Allstate to inquire about adding a music equipment rider to my homeowner's policy. Some people have said you should ask about an "inland marine" policy, but no one at Allstate I've talked to knows what that is. Allstate wanted appraisals and receipts for everything and it would only be covered on my premises. So, that's why I went with a specialized company that works directly with musicians.
 
I have a policy with MusicPro insurance. They're easy to deal with and don't require an appraisal for your gear. You can get up and running that day. I have about 40 grand worth of stuff insured for around $500/year. It covers "oops I dropped it" type accidents and theft away from the home.

That sounds good but going from lets say 100k to 140k on a home owners policy is A LOT less than $500 a year
Just on the music gear of 40k $500 a year sounds like a lot... a more traditional policy sounds more expensive but it's cheaper.
 
That sounds good but going from lets say 100k to 140k on a home owners policy is A LOT less than $500 a year
Just on the music gear of 40k $500 a year sounds like a lot... a more traditional policy sounds more expensive but it's cheaper.

Oh sure, I hear ya. If you don't take your equipment out of the house then a rider on homeowners insurance is a good option. Appraisals on all my gear would be expensive in its own right, not to mention a pain in the rear. Would the homeowners policy cover your gear if you're out of the house? If your guitar gets stolen from the tour van? If someone spills beer on your pedalboard? If your new puppy takes a whiz on your Eventide Space Reverb pedal (Yes, this happened to me. Unfortunately I was not covered at the time). All things to consider.
 
Some insurance do cover things if they're in your car or out of the house- here's the problem in every situation---

WHY IS IT OUT OF THE HOUSE!?!?!?

My point is- some insurance companies will say- oh you had a gig and your guitar got stolen? you were getting paid- you are a professional musician not a hobbyist- so you need a business policy not a personal policy - CLAIM DENIED

All these situations really depend on the company and type you get- and they're all bastards.
 
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