How Beneficial is a String Instrument Insurance Policy?
If you are a string instrument player, you know that it takes a lot of care and proper maintenance to keep your gear playing flawlessly. To make your stings weave magic every time you play it, you need to wipe it, fix the strings, and adjust the position of the sound post and bridge from time to time. Doing all these will keep your instrument in good shape while protecting it for years to come from the possible damages.
What about the unforeseen events?
However, have you thought about the sudden and unexpected events that life can throw at you? Yes, we are talking about accidents. Although we refrain from thinking about the unforeseen, as much as possible, misfortune can knock you down at any point of time. So, how can you keep up with it? How can you protect your string instrument, be it guitar, violin, cello, or something else from accidents? It’s by getting a suitable String Instrument Insurance from a reputable insurance provider. Such insurance policies protect you against many scenarios. It includes – loss, damage, costs of replacing or buying, and a lot more.
It’s good to be nitpicky and informed
As a professional musicians, parents, or students, you might have got a lot of questions to ask about musical instrument insurance. How to find an adequate insurance plan? Will investing in a string instrument cover worth the deal? What are the benefits of getting one when you already have a homeowner’s insurance cover? These and many more, going through this content will help you get a proper insight into the benefits and features of string instrument coverage. So, let’s dive in!
Is your homeowner’s insurance not enough?
Well, although some rental or homeowner’s plans do cover your gear in case of theft or loss, it happens under some specific scenarios. Those are – firstly if you’ve specifically included it in your policy. And secondly, if something happened to your instrument within the premises of your home. However, when you take a dedicated insurance plan, it covers a lot more scenarios related to your performances that are otherwise excluded. Let’s find those out –
The benefits and features of a dedicated string instrument cover
A standalone musical instrument insurance plan taken from a reputable insurance agency will provide you with the cost of replacements and repairs under the following scenarios –
● If your instrument is accidentally broken
● If you lose or damage your strings to flood, earthquake, thunderstorm, and similar elements of nature
● If you lose or damage your instrument during a show or transit
In addition to the above-mentioned coverage, you are also likely to leverage the following benefits –
● When you make a claim, you get guaranteed costs of replacement at the amount in which you covered your guitar or violin.
● You get the cost of a replacement instrument so that you can carry on with your performance in an audition or show.
● You can avail worldwide coverage so that your instrument and finances are covered no matter where you go.
● Adequate insurance cover not only for the instrument but related accessories including – music stands, bow, mic, sheet music, etc.
Certain musical instrument insurance plans provide you with the benefit of repurchasing a string instrument if your gear is lost or stolen. Moreover, most musicians form a deep connection with their instruments. And, therefore, many policies allow them to retain the undamaged parts if any. Do check with your prospective insurance providers, whether or not they offer the same program.
How much does standalone musical instrument insurance cost?
The cost of insurance policies with a customer-oriented service provider won’t burn holes in your pocket. Basically, their price ranges from a minimum of $0.75 to $2.00/$100 in cover. Also, once you do the Price-Value Analysis, you will find that the benefits you are likely to leverage will surpass the cost of the policy itself.
So, the bottom line is, when you have the assurance of a String Instrument Insurance, both your instrument and your finances are protected.