Why Performance Insurance Is Crucial For The Music Industry?

If you are organizing musical events or concerts, you are aware of the risks involved with such events. In the modern world there is more to such events that soothing music. There is a large commercial interest involved in organizing such events as you source capital from different quarters and work on a model that offers you healthy return and fans some entertaining music. Since they are money spinners, you would be able to pocket a healthy reward on successful completion of an event. Despite all the hard work and planning that you put into these events, there are many things that can go wrong. While most musicians would take care of their interest with instrument insurance what you as an event manager or organizer need is performance insurance.

As the name suggests, this insurance plan would help you in mitigating all the risks associated with a musical performance. These are specialized plans that have been designed to meet the needs of event organizers. It is a broad term that is used for various types of musical insurance plans and can be called orchestra insurance when you buy a plan that has been special designed for orchestra events. Irrespective of whether you are organizing a small event or one of a mammoth scale, you need to insure the events. You can choose to insure a one-off event or purchase a plan for a series of performances that are a part of a tour. 

Why You Need Performance Insurance?

·       Theft & Damage To Instruments – While all musicians insure their instruments, as an event organizer you can offer them additional coverage with your insurance plan. This will protect their instrument from loss and damage that occurs while they are taking part in your event. These plans would also cover their instruments while it is in transit during the event. In fact many musicians stress upon this kind of coverage before playing at any event.

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          Dealing with Uncertainties – Insurance plans offer you peace of mind and help you in dealing with the uncertainties surrounding an event. There are a number of things that can go wrong such as artists not turning up at the event due to unavoidable problems or the weather turning bad leading to cancellation of the performances. An insurance plan would help you in overcoming the financial losses in such cases. 

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         Handling Liabilities – As an event manager you can be held liable and accountable for everything that happens during the event. These include damage to the venue where the performance is being held or injuries to some of the fans attending the event. Without an insurance plan you would go bankrupt dealing with third-party claims that are so common these days. A good insurance plan would keep you at bay from such risks.

There are a number of companies that offer you performance and orchestra insurance and thus you need to carefully review their plan before you buy one. If you are having trouble in choosing the right plan, consult an insurance expert. 

Drum Insurance - Make an Informed Choice While Buying a Plan

As a drummer you have an emotional connection with your drum kit. It is this collection between you and the drum that allows you to create the right beats and make music. When there is so much emotion attached to the kit, any loss or damage can be quite difficult to deal with. But as a professional you need to take such unfortunate situations in your stride. There is little that can be done to console your emotions but drum insurance plans help you deal with the financial loss. Here in this article we shall take a look at some of the ways in which you can choose the right insurance plan for your kit.

Choose A Good Insurer
To find the right insurance plan for your drum kit or any other musical instrument you need to find a reputable insurer. There are a few companies in the world that cater to your needs and hence you need to make your choice carefully. Start by researching on the credentials of the company. While most companies make lots of promises few take care of your interests in times of need. You can read through the review of other customers and this will help you zero in on a good company. Next you need to take a look at the drum insurance plans that they offer you. The plan should take care of all the risks associated with your profession.

Read The Finer Lines     
This is one of the common mistakes that people make when buying musical equipment insurance as they look at the cover and make a decision without going into the finer details of the plan. Your need an insurance plan that extends much beyond compensation for loss or damage to the instrument and it lies in the various terms and conditions. For instance does the company offer you worldwide coverage for any loss or damage to your instrument? If it doesn’t the benefits of the plan would be restricted within a limited geography and may not offer you the protection that you really need. Also on what basis do they decide on the compensation? Do they offer you ‘New for Old’ plan or offer you compensation based on a previously agreed amount. Both these have their pros and cons and so you should decide on a plan carefully. Never hesitate to ask a question while buying a plan if you are in doubt about their coverage.

Public Liability 
As someone who plays at different venues you should never choose a plan that doesn’t offer you public liability coverage. It anything went wrong during your performance you can easily be held liable and might need to deal with numerous third-party claims which would also affect your reputation as a musician. Public liability coverage would deal with all claims regarding physical injuries and damage to property when you are performing at an event.

These few considerations will help you buy the right plan and build a protective wall around your professional career. 

Saxophone Insurance - Things That an Insurance Plan Would Cover

Music is serious business and like all other businesses or professions there are many risks attached to it. Irrespective of whether you are an amateur musician trying to establish your name or one who tours and mesmerizes the world, you need to safeguard your most valuable possession i.e. your musical instrument. If you play the saxophone, you need to purchase saxophone insurance which will protect you financially in different kinds of circumstances. Here in this short write-up we take a look at what these plans cover.

1.     Theft/Misplacement – This is one of the most common risks associated with your saxophone or any other instrument that you own. It can be stolen from your home or while you are touring across different cities. There are also numerous incidents when these instruments get misplaced due to careless attitude of baggage handling staff at airport or even by your own crew members. An insurance plan would take care of such loss and cover the financial loss of having to invest in a new instrument.

2.     Damage –Your instrument is always at the risk of damage. You may accidentally drop it while performing or practicing or it may suffer damage during transit. Repairing them cancost you dearly depending on the severity of damage and the rarity of your instrument. You won’t have to bear the cost of repair when you have an insurance plan as they takes care of the entire cost for all kinds of damages that are included in the plan.

3.     Fire – There are many musicians who have lost their instruments to incidents of fire. This can happen to your instrument at home or at the recording studio and a good plan would cover the financial losses associated with the same. Don’t depend on yourhomeowner’s insurance plan as it won’t cover the complete cost of the instrument.

4.     Natural Disasters – Can you predict natural disasters? You can’t and thus you always need to prepare yourself for hurricanes, storms and flooding. Such natural calamities can lead to loss or damage to the instrument and hence you need adequate compensation. Like in the case of fire, your homeowner’s insurance plan isn’t enough especially when you have an instrument of vintage value.

Complete Coverage for Orchestra     
Often you need insurance plans that offer protection to a group such as an orchestra. If you are a part of an orchestra or manage one, you need to opt for an orchestra insurance plan. These plans are tailored for all the risks that an orchestra group is subject to. Apart from covering the loss and damage of the instrument these also offer you liability coverage that safeguards you from any third-party claims relating to injuries and damage to property while you are performing.

Since there are a number of music insurance companies that sell these plans you need to zero in on one after careful research. Insurance can often be shady business and hence you must work with a company that has successfully catered to the needs of musicians in the past and compensated them in the event of a claim.

Music Instrument Coverage - Five Things That Make a Great Plan

As a musician you are aware of the importance of insuring your musical instrument. From loss of the instrument to damage, the risks associated with the profession are many. Modern performers face new set of challenges that musicians in the past would have seldom faced. You can be held liable for an unfortunate incident that takes place during your performance or inside your home music school. This is the reason most musicians and event organizers opt for liability coverage in their insurance plan. Coming back to your musical instrument, you need to be extra cautious while buying an insurance plan that offers you adequate coverage. While there are different types of instrument coverage being talked about, here are five things that make a great plan.

1.     Risks Covered – Before buying an insurance plan for your instrument you need to take a look at the risks covered under the plan. Your instrument can be damaged on stage or during transit. Similarly you may lose it from your home or while it is being handled at the airport. A good insurance plan needs to cover all such risks and offer you complete peace of mind.

2.    Valued At Insurance Coverage – This is one of the most important aspects of any insurance plan. The ‘valued at’ clause defines the amount of money for which your instrument has been insured. The same amount would be paid to you as compensation in case of loss and complete damage to the instrument. It serves better than replacement cost as it is predetermined and doesn’t require any negotiation in the event of loss.

3.     Worldwide Coverage – Read into the finer lines of the insurance plan and see if it places any restrictions based on geography. Music knows no boundaries and you may tour the world to entertain people. So you must choose an insurance plan that offers you worldwide coverage and doesn’t restrict the benefits within a certain geographical area.

4.   Replacement Coverage – Imagine a situation when your instrument is being repaired and you have to perform at an event. In such circumstances you would have to hire an instrument which can burn a hole in your pocket as such charges are pretty steep. You need not worry if you have replacement coverage as this would bear the cost of hiring an instrument while yours is being repaired.

5.  Business Interruption Compensation – The risks associated with your instrument goes much beyond repair and replacement cost. There are situation where loss of damage to an instrument may prevent you from performing and lead to financial losses. A good musician’s coverage would offer take care of your loss of income in such situations. 

Any insurance plan that fulfills these five parameters would take care of all the risks associated with your instrument. Apart from these there are many other additional protections that you can opt for and these include Inflation protection and partial loss/damage protection. A good music insurance company would offer you all these protections and help you mitigate all the risks associated with your profession.

Viola Insurance - The Need for a Guarded Approach to Your Profession

Good music transcends the barriers of culture and language. It has the power to make people emotional and mesmerize them. Creating good music isn’t easy and requires lots of hard work that happens behind the stage or in the recording studios. Apart from talent, it requires complete peace of mind where you can completely focus on your profession and not worry about worldly problems while creating music. But the challenges for modern musicians are many and these can often become an obstacle in your day to day career. You need a guarded approach to ensure these risks pose no threat to your profession and the right insurance plan is one of the greatest assurances against these risks.

If you play voila you would need to buy voila insurance as it takes care of all the specific risks associated with the instrument and one who plays it. Similarly there are insurance plans that have been designed keeping in mind the needs of the musicians playing instruments. Voila insurance plan would offer you financial compensation in case your instrument is damaged or it is stolen from your home, stage or on the road. ‘New for Old’ coverage guarantees you a brand new instrument when you lose it or it is damaged beyond repair.

Concert Insurance          
While instrument insurance plans take care of the needs of the musicians, there are other risks where you need a guarded approach. For instance if you are organizing a concert, you should buy concert insurance plan without an iota of doubt in your mind. These insurance plans have been designed to address your specific needs during a concert and you have the option of buying plan for a single event or your entire tour during the season. Irrespective of the plan you buy, here are some of the risks that your concert insurance plan should address - 

·  Liability – This is one of the biggest risks during a concert. When you have a large attendance there is risk of injuries and damage to the property. You must have experienced or heard of events when the crowd has turned violent or there has been a stampede and liability coverage would protect you against all kinds of third-party claims.     
     
·  Concert Cancellation – What do you do when your artist falls sick and doesn’t turn up for the event or there has been an unforeseeable problem that has led to the cancellation of the concert? A plan that covers concert cancellation will take care of all your investment and save the day for you in such an unfortunate situation.        

·  Weather– You can’t predict the weather and if you are organizing an event outdoor you must have this coverage. In fact even if the event is being organized indoors having this coverage would protect you in case of extreme weather conditions.

To sum up, you never know when you have to deal with an unfortunate situation and this is when an insurance plan would come to your rescue. Since there are a number of companies that offer you Voila insurance and Concert insurance you should compare their plans before buying them. 

Cello Insurance - Tips to Get the Best Out of Your Insurance Plan

As a musician you may have heard about the horror stories of someone’s instrument getting lost or damaged. These aren’t a rarity but quite a common occurrence. So the option in front of you is quite clear – bear the emotional and financial loss of a damaged or lost instrument or buy an insurance plan that takes care of the financial losses that are attached to it. But buying a Cello insurance or that for any other instrument is easier said than done as you need to consider a number of things. Here in this short write-up we take a look at some tips that will help you get the best out of your insurance plan.

- Know Your Needs        
Many musicians make the mistake of buying an insurance plan without actually considering their actual needs. The bottomline is that you need a plan that protects you against all the risks associated with your professional career. Whether it is Cello or Piccolo insurance the need of every musician is different. For instance, if you run a home music school your needs would be different from one who plays on stage and has to travel regularly. While you may need to focus on liability coverage, musicians who travel regularly are more at the risk of losing their instruments during transit.

- Find The Right Plan     
Once you know your needs the next step is to find the right plan. While the basic coverage in terms of loss and damage to the instruments remain the same, you may be in need of specific risk coverage and must make sure your insurance plan addresses these.Read the fine lines of the insurance plan if you travel regularly and play outside your own state and even in different countries around the world. The coverage of some plans may be restricted to specific geographical area and before you buy a plan you need to know what it covers.              

- Get It Appraised           
If you own a vintage Cello or a Piccolo, you need to get it appraised while buying an insurance plan. No insurance company would insure your instrument unless it is appraised by a professional. The value of vintage instruments tends to vary and it all depends on a number of reasons including the demand for these and the condition of the economy. As a best practice get the instrument appraised every 3-5 years to make sure you are insuring it for the right value. Always retain the copy of the appraisal as this comes handy while making claims.

All these things will help you get the best out of your Cello insurance plan. With number of companies offering these insurance plans you may often be perplexed with the number of options you have. This calls for detailed research on the company’s background and check out the reputation they enjoy among musicians. If you still find it difficult you can seek the help of an insurance advisor who would lead you to the right plan to cover your needs.

Music Studio Coverage: Making You Relaxed In All Adversaries Too

From providing instructional lessons in a range of music equipments, to delivering sound mixing and recording services,  recording studios are involved in a various types of music related services. Often also known as Music Studios in common language, you will find a very slight difference between the two. These centers are Mecca for the budding artists; as they help in encouraging upcoming artists to record some off the mesmerizing numbers for their compilation by recording or blending the work of music artists. These studios often have a corner for imparting vocal and instrumental training, and give a full fledge instructional lessons to the music buffs. After acquiring enough skills in their domain of learning; these students of music often visit concerts and recitals from time to time and display their skills they have attained to their family and friends

Music Studio Insurance- How is it Beneficial

Operating and possessing a music studio, that to a fully fledged one circumscribes a number of known and unknown dangers. Ranging from legal account abilities due to the possible mishaps, due to the activities they are into or the loss of the property, and even the crimes caused by the unanticipated or unexpected reasons have to be dealt efficiently. For this reason only, it has been suggested that Music Studio owners should purchase Music Studio Insurance, and protect their professional venture from all such negative happenings. This policy has a number of features, which assist you in countering the number of barriers that come in your way of attaining your specific goals. Established vendors, who are exclusively rendering their services to the music sector well, understand the importance of studio venture in the life of an owner; and this is the reason they take necessary steps while designing this policy, so that no dent occurs in the name, fame, status and business of these music studios.

With this policy by your side, apart from the property, a full coverage is being provided for the equipments instruments as well as all other set of accessories that are required for a smooth running of the Studio venture. Apart from protecting your studio, also takes into account of the welfare of the employees that are rendering their services to your studio.

We are well aware, that venturing into a studio business is not as easy as it is being projected. It requires a huge investment; and at times musicians or composers have to invest their lifetime savings and earnings in the project. Some of the Instruments as that made of brass and string cost a fortune, and in case they are being stolen or being damaged can cause you a big financial deficit. But, owning them is quite necessary, as for recordings and rehearsal they play a decisive role. So, studio owners should always go for Brass Instrument Insurance side by side.

Keeping explicit and detailed requirements of studio owners in mind, insurance providers keep on introducing plans and policies from time to time; which can be further customized as per the need of the moment.