Musical Instrument Insurance Coverage Through Homeowners’ Insurance Policy

When playing musical instruments, we often do not consider how our instruments would be covered in the event of a loss or damage. Within many homeowners’ insurance policies, coverage for the covered loss or damage of musical instruments is often standard language as part of your personal contents insurance protection. In some cases, and usually depending on the type of musical instrument, your homeowner’s insurance policy may not provide coverage.

As an option to most types of homeowner’s insurance policies, HO, you can add riders which will add additional coverage options. Typically, these types of riders are used to insure items that are unique and not part of standard households, including business equipment and collectibles. If you play unique musical instruments, it is important to ask about the additional coverage you can purchase for your musical instruments using musical instrument insurance protection options under your HO policy.

The levels and degrees of coverage for optional musical instrument insurance coverage will vary depending on the type of homeowner’s insurance policy you are purchasing and what is the standard requirement for the state in which you reside. When purchasing optional musical instrument coverage, the first matter to be addressed involves the make and style of the musical instrument and what appraisal value it holds. In many cases, your instruments appraisal value will determine if a rider of insurance protection is needed on your HO policy and what, if any, additional coverage should be considered.

When buying or renting a musical instrument, ask the store in which you are buying the item if they can provide insurance protection as well. In some cases, the cost for purchasing musical instrument coverage may be cheaper when done independent of your homeowner’s insurance plan. When comparing rates, however, you will also want to look at the level of coverage and be sure all possible scenarios for loss are provided for under one of these musical instrument policies.

In homes across the United States, musicians, both young and old, are looking for ways in which to effectively cover their valuable items with musical instruments a leading cause for concern in the event of a covered loss.

When looking to protect your valuable instruments, look into not only independent coverage through your music supply store, but also look into the purchase of additional musical instrument coverage through your homeowner’s insurance plan. In doing so, you can acquire the best possible coverage and protect your musical instrument assets from loss – something vital to the entertainment and livelihood of most musical entertainers.

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