What Does Musical Instrument Insurance Cover?

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Not everybody has the ability to play a musical instrument, but for those who do, they often cherish their instruments. That is why it’s important to protect your instrument (and the money you’ve invested in it) from harm by insuring it.
The main problem with insuring a musical instrument centers around how much they’re worth, which can be quite a lot depending on the type of instrument. Fortunately, many insurance companies offer musical instrument insurance designed to protect your cherished items.

What Is Musical Instrument Insurance?

Musical instrument insurance is a specialized type of coverage outside your homeowner’s insurance that protects your musical instruments from damage or loss. The most important thing about any musical insurance coverage is to make sure that you have enough coverage to repair or replace your instrument.
While it’s not necessary, and might not even be needed, having musical instrument insurance can give you peace of mind. Before purchasing any insurance policy, it’s important to read through it carefully to make sure you are satisfied with the level of coverage that it provides, whether you need to have the instrument appraised for value, and under which circumstances your coverage won’t provide protection.

The Types of Musical Instrument Insurance Policies

When insuring your musical instruments, you have many options to choose from. Which coverage you use depends in large part on the value of your instrument. The different types of insurance you can use to cover your musical instruments include:
Standard homeowner’s insurance: Usually, for less expensive musical instruments, you can rely on your homeowner’s insurance to provide protection from damage or loss. Of course, as with all things on a homeowner’s insurance policy, you will need to pay a deductible first before your insurance will provide any type of payout.
Scheduled personal property insurance: A scheduled personal property endorsement, or rider, is great for providing protection if you have musical instruments that are particularly high in value. With this type of endorsement, your insurance company will pay you the replacement value for your instrument if it is damaged or lost.
Standalone musical instrument insurance: You also have a third option of getting a standalone policy for your musical instrument. This works great if you are on the road a lot, since a standard homeowner’s insurance policy will not provide coverage if your instrument is damaged or lost while you’re playing it.
In addition, if you find yourself frequently traveling outside of the U.S. with your instrument, you should get international coverage. A standalone policy probably already covers this, but it’s always good to ask before getting such an insurance policy.

What Does Musical Instrument Insurance Cover?

Most musical instruments are covered by a standard homeowner’s insurance policy or a scheduled endorsement. This also includes any musical gear, such as microphones, amplifiers, and mixing equipment, which can be expensive to replace as well. Some of the most common covered musical instruments include:
  • Acoustic or electric guitars
  • Brass, woodwind, and reed instruments (trumpet, clarinet, saxophone, etc.)
  • Pianos
  • Stringed instruments (cello, violin, etc.)
  • Synthesizers

When Are Musical Instruments Not Covered?

Some special situations that might arise include leaving an instrument at a friend’s house or rehearsal studio in lieu of dragging it back and forth to your home. Most often, your renter’s or homeowner’s insurance should provide coverage. Just make sure that the coverage is adequate and that you don’t need a more robust musical instrument insurance policy.
By making sure you have an adequate amount of coverage for your musical instrument, you should have no problem getting it replaced if it is damaged or lost. This is important if you rely on your instrument to make a living; in this case, getting musical instrument insurance should be a top priority.

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