Music Instrument Insurance: You May not be Covered under Homeowners

You arrive back at your van to find the window smashed and your instruments missing. You take out your phone and call your insurance broker to report the claim under the homeowners policy that you purchased. An adjuster is assigned.

The claims adjuster does a  web search and sees that you have played some small gigs. Because you occasionally perform for money, your gear is now considered commercial equipment and as such, not covered by your homeowner’s insurance policy, which is intended to cover “personal” musical gear that is not used for commercial purposes.

You tell the adjuster that you only played twice in the last 12 months and made less than $300 for the performances.

The adjuster shrugs, “It doesn’t matter, even if you busk 10 minutes for $10, you are a professional and your gear is considered commercial and is no longer covered under a homeowners policy”.

This is a difficult, pricey lesson that is better learned before there is a loss. Our experience tells us that many professional musicians assume they are covered by their homeowners insurance policy when in fact they are not.

If you perform for money, check your policy and make sure your coverage is appropriate. At Front Row, we have created a 5-minute online insurance solution.

Available to SOCAN members at: musicians.frontrowinsurance.com

The policy term is for 12 months and coverage is provided throughout Canada and the USA.

All equipment is covered for replacement cost for theft, damage, fire and loss of use. The online link ensures industry-low prices:

• $10,000 equipment coverage: $100
• $1,000,000 location liability coverage: $75; $2,000,000: $100. Liability covers property damage and bodily injury to third parties. Pays legal fees too.
• $500 deductible for gear

"We wanted to make the insurance process easier, faster and cheaper for musicians," said David Hamilton, President of Front Row, "Given that an insurance company underwriter is not involved, the cost to process an instrument insurance policy is much less online and we have passed the savings onto the musician. Although the instrument policy is online, we are still available to answer questions by email or over the phone if required."

SEE ALSO: MUSICAL GEAR : INSURANCE AND PROTECTION WHILE ON TOUR

FILMMAKERS AND HOMEOWNERS INSURANCE

PHOTOGRAPHERS AND HOMEOWNERS INSURANCE

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