Standard & Classical
Instrument and Equipment Policies
Your gear is automatically covered where ever it is located, any where in the world. It doesn’t matter if it’s home, on the road, at a gig, the back seat of your car, or even checked as baggage with an airline.
The policy is referred to as an "All Risk" policy. This means that unintentional damage caused by anything that is not specifically excluded will be covered. Theft, accidental breakage, fire, lightning, vandalism, damage caused by vehicles or aircraft, windstorm, water or flood damage are all covered perils. Earthquake damage is even covered in California.
**Subject to policy terms, limits, conditions and exclusions. See the next question.
Some exclusions include:
Our site was designed for clients to be able to manage and maintain the list of insured items as needed at any time. The site will calculate any change in premium (pro rated to the end of the policy term) and either charge or credit the card on file, as necessary.
Our policy provides some automatic coverage for Borrowed or Rented Equipment of a type usual to your operations – up to $25,000 coverage for up to 30 days. Rentals that exceed these parameters can be accommodated with company approval at an additional charge.
You can email your .xls file to Insurance@MusicProInsurance.com for processing. Please include the Application Id number in your email.
We offer the same rates and coverage to all music professionals. Our deductible is only $100 per incident (not per item). Presently there are no deductible options.
The annual premium must be paid in full in order to activate coverage.
Once you submit an application with a payment (Visa or MasterCard) it will be reviewed by a customer service representative. Everything usually gets processed the same day. If it’s after normal business hours it will likely be processed first thing the next morning. Submissions are reviewed on the weekend as well. You will receive an email confirmation with a copy of your new policy attached.
The Commercial Inland Marine policy form is the type of form used by the insurance industry to include coverage while the property is in transit or ‘off-premises.’ It was originally created as an extension of Ocean Marine insurance to provide coverage from shipping docks to the final destination.
You will see on Page 2 of your certificate where it specifies ‘Musical Instruments and Related Equipment.’
You will be paid the actual cash value at the time of loss if the equipment is not replaced. Your instruments will be valued at replacement cost, if replaced. Replacement items are to be substantially identical to what was stolen or damaged. If an item is no longer being made, a similar item that performs the same functions will be allowed.
The policy has a low deductible of just $100. This is applied per claim, not to each scheduled item.
This policy is underwritten by The Hanover Insurance Group (an A rated insurance company) since 2009.
Target timing is to wrap up claims, with a check in the mail, within 24-48 hours. The time frame for any given claim is always fact specific and can depend on how long it takes to get a police report (in the event of a theft), or a written estimate for repairs (in the event of damage caused by an accident).
Studio liability is a form of general liability insurance. It is designed to protect you against third-party lawsuits claiming bodily injury or property damage.
For example, if someone walks into your studio, slips and breaks their ankle, the injured person might sue you for damages (bodily injury).
Another example would be if you rented out your studio and the renters plugged their equipment into your board and their electrical instruments blew out. The renters could sue you for damage to their property (property damage).
People get sued. Every business opens itself up to lawsuits simply by dealing with the public. A recording or music lesson studio is no exception. Also, an increasing number of landlords require tenants to carry this coverage as part of their lease.
You must read the details of your policy to know for certain. But most exclude or severely limit the types of business operations they cover. We believe that a business is best covered by a business policy. If you operate a studio and charge a fee for its use, or are in the business of recording, you need this coverage.
No. Our program is designed to cover "fixed locations," specifically music and/or recording studios. However, our Special Event and Performance Liability provides band liability protection on the road, and our Instrument & Equipment insurance covers your equipment anywhere inside of the studio or out on the road.
Yes. The policy is rated on square footage of your space and annual receipts from the income made from the space. The policy starts at a low minimum premium of $425. Payment plans are available.
No. The studio can be anywhere, whether in your home or at a separate location in the USA.
No. This is what is called "first dollar coverage." You don't have to pay any deductible whatsoever.
The Hartford, one of the nation's largest and oldest insurance companies — A rated by A.M. Best Company.
Call MusicPro Insurance Agency LLC at 1-(800)-MUSICPRO as soon as you are aware of a problem.