Episode 004: Insurance

In a venue, on the road, or even in your home, disaster is always a risk. Are you protected?

Music: Jahzzar, Please Listen Carefully; spinningmerkaba, Urbana-Metronica (wooh-yeah mix)

Show notes

  • Topic introduction: Should I buy insurance for my music gear?
    • Homeowner’s or renter’s insurance?
      • Not usually… Refer to your homeowner’s policy for info, or call your agent.
      • Many policies don’t cover instruments at all. Some policies may cover instruments, but are void if you take the instrument out of the house!
    • Car insurance?
      • Not usually… again, refer to policy or agent to check
      • Most policies only cover damage to the car and occupants, not property
    • Accidents or theft… usually means a big financial loss
    • Even if you have only a modest rig… let’s say two basses and a decent amp, that could be well over $2K
      • Paul: I’d be looking at ~$3500 for just my bass rig, but I also bring sound, which means well over $10K I’m usually hauling
      • Dave: Replacement cost of ~$3,000 to $4,000
  • Have you ever had a loss on the road?
    • Dave’s experience
      • I’m thankful to say no to this question, but I’ve had a couple friends of mine who play in similar circles have their bass stolen right off the stage on a set break, and gear stolen from the car after a show. – It feels like it’s just the spin of the dial in the Game of Life and it only takes one bad spin.
    • Paul’s experience
      • I’ve been lucky, nothing stolen yet. But once my guitar player yanked the innards out of one of his guitar during soundcheck
      • I’ve also had audience members who had way too much to drink crash into equipment, lost mics, stands, and other paraphernalia that way
        • Dave’s Alzheimer event incident
  • How do you get insurance?
    • Likely won’t find this at State Farm, USAA, Allstate, etc.
    • MusicPro Insurance – //www.musicproinsurance.com/
    • In the UK, Allianz – //www.allianzmusicalinsurance.co.uk/
    • These firms specialize in insurance for working musicians… there are other firms that specialize in instruments only (the ones that stay in your home)
  • What sort of stuff is covered?
    • Remember, all this is generalities. You have to confirm details with an agent!
    • Breakage or destruction while you’re performing, or on the road to/from the gig
    • Theft as a result of a break-in to your vehicle or hotel room
      • Leaving the car unlocked might make it your problem!
    • Rates vary, but you could expect to cover a small touring band’s stuff for $250/year

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