Music Insurance: Is It Worth It?

Musical equipment theft is actually something that is extremely common. Unfortunately, it’s something that many musicians encounter and even some of the musical greats have found that their equipment or instruments have gone missing.

Arguably one of the most high profile instrument thefts was the theft of Paul McCartney’s Hofner Violin Bass, which most Beatles fans would recognise. The semi-acoustic bass was one of the musician’s favourites and he can be seen playing Hofner instruments throughout his career. However in 1968, his 1961 model was stolen during the filming of the Revolution promo film. This was a blow for the bassist, particularly because the guitar was used from the outset of his Beatles career in 1960. Nevertheless, this is just one example of famous music equipment being stolen; musicians from BB King to Tom Petty have all been the victims of thieves.

It’s worth noting that theft is not the only thing musicians need to be concerned about when it comes to their equipment. As most bands or solo artists will know, constant touring with instruments and equipment in transit can result in damage or even destruction. This can be just as devastating as having gear stolen; particularly if you are in a location you don’t know and can’t easily get instruments replaced or repaired.

It might come as no surprise then that for these reasons (and many others), protecting yourself and your instruments with music insurance really is worth it. Whether you are in an orchestra, rock band or play as a solo artist, musical equipment doesn’t come cheaply. For most musicians, costs go above and beyond just a single instrument too. Often, backup instruments are needed as well as amps, microphones and other pieces of kit. Costs tend to add up extremely quickly and it can be impossible to replace these if something should happen and you don’t have protection.

So, how can musicians go about getting cover and what exactly do musicians need in terms of music insurance?

What musicians really need is cover that is flexible and tailored to an individual or band’s needs. Cover needs to be suitable if you are a music teacher, entertainer, gigging musician, DJ or sound and lighting engineer. Whatever your musical discipline, you need to be sure that you have the right level of cover.

It may be that you only require accidental damage, theft and loss insurance. However, you may also want instrument breakdown cover and equipment hire if you rely on your instrument or equipment as a means of livelihood. If a musician or band is directly involved with the public, it may be that public liability insurance is required as well. Another protection option worth thinking about is in-vehicle cover, which is designed to protect your music equipment whilst in transit. You should also consider where your equipment is predominantly kept and used; if you have a studio, you want to know that your kit is protected there too. Some music insurance providers, like Musicguard, will allow for a flexible cover policy. This basically means that musicians can insure some of their instrument or equipment away from the primary insurance location.

At the end of the day, it’s impossible to predict the future and accidents do happen. It’s important to be prepared for every eventuality so that if disaster does hit, you can be sure that your instruments or equipment are safely protected. If instrument theft can happen to music legends like Paul McCartney, it certainly can happen to you, so be sure that you have appropriate music insurance. It really is worth it.