November 23, 2015
If you use your musical instruments professionally they typically will not be covered under your regular home owners or renters insurance as those types of policies only cover personal property but not business property. To be sure that you are covered for theft or damage while on the road or on the gig you need coverage that allows for business use and transport of your instruments. While there are several companies that specifically write policies for professional musicians it is generally cheaper to have your regular insurance agent write you an “Inland Marine” policy. I know – boats and all. Yeah – but that’s not all it covers. Wikipedia has an article here and here is an insurance company’s explanation (not the company I use). I have used inland marine policies for decades and have never had any difficulty with claims though I have been very fortunate in that I have had to file very few claims. It’s just important to fully document every instrument and item you need covered. Most companies will require a copy of an invoice or an appraisal for valuation.