Tag: Offers

Types of Insurance Plans That Music Insurance Company Offers

music instrument
by dr.snitch

Music insurance has become a necessity for everyone in the music industry. Whether you are an amateur or professional musician, arrange events, appraise instruments or own a recording studio, there are some inherent risks that you need to be protected against. In the last few years a number of music insurance companies have come up offering comprehensive coverage to the customers. Their plans have been designed to meet challenges and risks associated with this industry. Let us take a look at the different types of plans that a music insurance company would offer you.

# Instrument Insurance

This is the most popular coverage that most musicians look for. These plans offer financial compensation in case of loss or damage to your instrument. A good music insurance company would cover the actual cost of replacement of the instrument when you lose the instrument or it is damaged beyond repairs. Some plans would also offer cover the cost of hiring an instrument to perform at a pre-scheduled event in case of loss or damage.

# Recording Studio Insurance

If you own a recording studio you would have invested in costly recording equipment and recording studio insurance is a must for you. This not only covers damage to your equipment but will also protect you against all liability arising out of trips and falls in the recording studio that may lead to bodily injury for your clients.

# Music Studio Insurance

If you own a small music studio in your home and provide music lessons to students you must be prepared for the risks. One of your students may suffer an injury and this can lead to liability and lawsuits. This risk can magnify when you have small children among your students. Music studio insurance would protect you against such risks.

# Insurance for Appraisers

Music instrument appraisers like all other people in this world are bound to make error in judgement. These errors and omissions not only lead to financial losses but can also hurt their brand image. When we talk about old musical instruments and those played by celebrity musicians these errors and omissions can mean difference of thousands of dollars. Insurance for appraisers takes care of the unique challenges that appraisers face in their daily job.

# Event Liability Insurance

If you are organizing a musical event, you need take into account that things may not work according to the plan. Violence and stampede aren’t unheard of things at such events and this is where an event liability insurance becomes vital to keeping your from harm’s way. Not having one can mean third-party liability claims and also litigation in case of damage to the property or bodily injury to any of the participants at the event.

There are a number of other types of insurance plans that have been designed keeping in mind the needs of people engaged in this industry. What you need is to find the right music insurance company that offers you the kind of plan you are looking for.

Author is an insurance agent who has a vast knowledge on the various Music Insurance Company offering their services to musicians, studio owners and appraisers.

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Music Instrument Insurance Offers More than Just Monetary Compensation

music instrument
by bennylin0724

The music scene has got competitive in the last two decades. The struggle for musicians and those associated with other professions in the music industry is at an all-time high. But at the same time there are more opportunities even for upcoming artists to perform at concerts, college gigs and even private parties. Whether you are one of the most sought after artists or one who offers music lessons at home, you need to adopt a professional approach in how you go about your business. It is important for you to protect yourself against the risks and hence you need to buy music instrument insurance.

The moment we talk about music equipment insurance, most musicians and event manager look at it purely from the angle of monetary compensation. Yes, an insurance plan is meant to offer you financial protection against all risks but their utility extends much beyond that. This thought process is also a result of what most other types of insurance plans offer us. But for musicians the risks are unique and so are the needs and hence you need plans that not only compensate you financially in the event of loss or damage but also help you deal with the immediate consequences of losing an instrument.

The Psychological Advantage
How often have you spent anxious hours while travelling wondering how the handling crews are dealing with your precious instruments? If you are regularly on the road of travel to perform, this is something that you would experience. You fear the loss and damage to your instrument and this anxiety can often affect your performance when you arrive at the show. A comprehensive plan would offer you psychological respite from this anxiety. When your mind is aware of the financial protection you have, it is always at peace. Musical instrument insurance covers all such risks such as damage on-stage, thefts and damages during transit and would help you deal with such situations.

Protection from Liability
There is no end to fixing liability in the event of mishap. Did you know if you are playing in a concert and there is injury to some of the fans due to violence or stampeded, you can be held liable to such incidents? Many musicians have got themselves entangled into such liability claims in the absence of an insurance plan that protects them against this risk. Also if you impart lessons to students at home, there is always the risk of liability should anything happen to your students while they are at your premises taking lessons from you. Apart from the legal consequence, such incidents earn you bad press especially in the day and age of social media and can dent your reputation. A music insurance plan would protect you from any kind of third-party claims arising out of damages and insurance at your studio or during your event.

It thus becomes extremely important for you to find the right insurance company that would offer you a tailored plan meeting all your risks at the most affordable prices.

Author works as an insurance agent with a vast knowledge of music instrument insurance and music equipment insurance.

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