27 Dec Everything You Should Know About Musical Instrument Insurance
Working musicians rely on their instruments heavily. It is not only their first love, but also important on the stage and inside the recording studios. A musician feels most comfortable doing a concert, recording or, just playing music with their own instrument.
But, seldom do musicians take the musical instrument insurance seriously!
Most often, you would find musicians opting for the regular insurance that comes with the musical instrument. This may or may not cover all the damages that the instrument can undergo. Sometimes a small scratch can become a major deal if the instrument stops operating, which is why you will need an insurance that covers any small or major damage that can spoil the instrument’s working condition.
If you are operating on a standard homeowner’s policy for your instrument, then you may want to think again. This may not help you when the damage is real big.
Here we will give you an insight into everything that you probably want to know about musical instrument insurance. Probably, at the end of it you may have an idea on how to choose your instrument insurance, and get the damages claimed.
Standard Home Owner’s Policy is Insufficient
The first thing that you probably need to understand is that a standard home owner’s policy is insufficient for your instrument’s needs. Musical instrument insurance will cover damage, repair and will get you a replacement offer for your instrument. In case of home owner’s policy, the deductibles are usually very low, while for the musical instrument insurance it is typically high. But, the deductibles are definitely worth it, as it covers all aspects of your musical instrument.
Choosing the Right Policy is Important
Not all policies cover repair and damage related insurance for your instrument. It all depends on the insurance that you have chosen for your musical instrument. If you have a cover that says you will be compensated in case of damage, and the details have been mentioned, you will be covered only for that.
Let’s say you want a brass musical insurance, you may want to understand what all damages or repairs need to be covered in the musical insurance. Accordingly, you can customize your instrument insurance and buy it.
The idea is that the plan will support you in case you have faced losses owing to repair or damage (depending on your plan) of the instrument.
Partnering with the Right Company
When you set out to choose the policy, you need to think around two factors when choosing the company- the company should make insurance buying easy and claims should be immediate.
When you are buying insurance, the company should support you through the entire buying process, which includes understanding the insurance, knowing what all is included, filling out the form, and finally insuring the musical instrument.
Along with buying the insurance, claims should also be well-handled by the company. When you file for a claim, the process should be as short and simple as possible, and the money should be reimbursed as soon as possible.
Only when the company handles both things in an user-friendly manner, should you opt for it as your musical insurance company.
Partnering with Clarion INS will give your affordable policies, a quality support team, and easy to manage claims. We also offer custom policies to meet your unique insurance needs.