Guide to Choose Audio-Video Equipment Store Insurance

Your audio-video equipment store is more than just a store. It is an adobe for you, your safest haven. Well, if you are a musician or a music enthusiast, then owning a musical instrument shop should be especially rewarding for you. It allows you to live your passion while conducting retail business operations.

For musical instrument insurance shop owners, their shops mean a lot to them. A shop means a lot of investment involved in terms of time and money, and hundreds and thousands of dollars instruments and accessories. In simple words, a shop means livelihood.

As an audio equipment store owner, you know things better than anyone else does. And, like everyone else, the last thing you would want to think about is unforeseen situations like flooding, burglary, fire, catastrophic phenomena, and other accidents, interfering with the flow of your business. However, such misfortunes do strike, more often than we think.

Many audio-video equipment store owners are uncertain if or not their standard business or homeowner’s insurance covers their stores, musical instruments, and related accessories. And, in light of the uncertainties that can unfold at any point in time, getting standalone Audio Equipment Insurance makes a lot of sense.

Go for standalone not home alone!

Jokes apart...

Insurance policies are all about covering risks. And, insurance companies need to understand the risks a policy seeker is subject to in the first place. It's then only the service provider can come up with the right insurance solutions for that particular insurance holder.

Let's take an example.

A homeowner's insurance plan is designed to protect the risks a building face, provided it is being utilized as a home, not a commercial music studio or shop. Nevertheless, many home-studio or shop owners think that if a disaster strikes, their standard homeowner’s insurance will cover them. However, that might not be the scenario all the time.

With a plethora of insurance service providers showcasing a variety of products and services, it’s hard to say which plan includes and excludes what. However, getting standalone audio equipment insurance is always a good idea.

Ample availability of insurance options is like the two sides of a coin. On one front, you have so many to choose from, whereas, on the other, you end up in a dilemma. And, it's indeed taxing when you cannot decide on the most suitable option for you.

So, before you zero in on a musical equipment insurance policy, make sure to consider the following questions -

1. Does the policy you intend to choose cover flooding?

2. What if the inventory of your audio-video equipment is destroyed? Will your insurance provider compensates for the purchase price?

3. What if the instrument you shipped lately turned out to be damaged? Will your insurance provider compensate for the same?

4. What if your store is damaged in a catastrophic accident, say thunderstorms or lightning, leaving you to shut down your store for a month?

5. What if you are responsible for the accidental and unintentional damage to the building your store is located in?

6. What if a customer gets injured while touring your store?

Considering these questions at the time of policy purchase is important because you will never want to make a claim only to learn that your claim cannot be fulfilled. Besides the aspects associated with your retail business set, there are many other things to think about, like -

You need special coverage for the musical gears and accessories that you won but are not stored in your store because you give those on rent.

Plus, how can you forget about repairs and replacement? These can come very expensive. Therefore, having proper insurance coverage helps your savings protected, if you need to repair or replace instrument(s). However, if you choose a customer-friendly service provider, you are more likely to avail upfront services.

Choose a service provider that’s true to its claim

Choose a good Audio Equipment Insurance service provider that’s endorsed by the regional and national musician associations and is recognized by the leading music networks. Accreditations and endorsements say a lot about the reliability of a service provider.