The bond between a piece of musical instrument and a musician is eternal. And, people who are submerged in the world of music are the only ones to understand and feel it. As a musician or even a musical instrument owner, you can understand the same very well.
Also, you have shelled out a lot of time and hard-earned resources into finding the most suitable instrument. And since then, it has been an indispensable part of your life. Isn't it? Whether you are a noted musician or you play an instrument just because you love to, make sure not to ignore musical Instrument Coverage at all.
If you hardly have any idea about insurance, especially that covers musical instruments, don't worry! This guide will help you decide if buying a musical instrument insurance plan is worth your time and money.
Should you buy a dedicated insurance plan for your gears?
Well, to answer this question, you need to prioritize your needs in the first place. If music and your musical instruments make a significant part of your life as well as living, you should give no second thought and buy a musical instrument insurance plan for your gears right away. Here are some of the crucial reasons:
● In case your musical instrument is damaged or stolen, you would surely want to get it repaired, get a replacement, or get a new one as soon as possible. Or else, you are most likely to suffer from loss of income. Right?
● Whether you want to rent an instrument, for the time being, repair your damaged gear, or buy new gear, musical instrument insurance has you covered.
● Are you a touring musician? If so, then you happen to travel with your gear or the entire paraphernalia quite often. Right? In this case, a standalone musical instrument plan is imperative. It will protect you worldwide.
● Suppose you injured a guest or someone from the audience during your concert, it can lead you to trouble. Although you did not do anything intentionally, in most cases, you will be regarded as responsible. And, needless to mention, but this responsibility would be a financial and a hefty one involving paying for medical bills and lawsuit settlements. Having proper Instrument coverage will mark you safe.
So, aren’t these advantages sufficient to help you decide if or not you should buy an insurance plan for your gears? One of the most important things to remember here is - even if you own the best of the best home or renter’s insurance policy, you are least likely to get complete coverage for your gears.
Some words of caution!
Understand your policy well
Finally, if you have decided to purchase an instrument-specific insurance policy, spend some time understanding different insurance policies before buying just anything from the available lot.
Do the calculations right
Another vital aspect to note here is - make sure to spend some time doing the calculations when it comes to the value of your gear. Otherwise, you might miss out on getting complete coverage.
Be a responsible musical instrument owner
Also, after buying your musical instrument plan, please do not act careless and indifferent towards your gears. Just because you have the protection of a music instrument plan does not mean you can now keep your instrument unattended and keep it poorly.
Always remember one thing, even an all-risk cover insurance plan would not cover some scenarios. Damage or loss to your gear due to your negligence, improper storage, and regular wear and tear are the top among them. Besides, if your musical instrument has been seized by any government authority, then also you will not get coverage benefits.
Hopefully, this article will help you understand the need to have instrument-specific coverage for your gears.
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