Insurance is important for everyone despite their occupation. Insurance is more like saving for rainy days. For musicians, insurance may not seem like a priority to venture into but it is very important to have coverage to protect you before you ever get up on stage. Without a general liability policy in place, you could be held financially responsible for lawsuits or could lose business from venues that require insurance. There are many reasons why musicians need to insure themselves and their instruments. A low-cost policy is a prudent investment should anything untoward happen to them, their audience, or equipment when performing.
THEFT AND LOSS OF INSTRUMENTS;
Just like any other property, musical instruments can also be stolen or lost. Equipment could be forgotten during a journey or left in a vehicle. Without insurance, there would be a pile of bills waiting that a musician might not be able to settle in the long run should the worst happen.
In the same case, it’s very difficult to trace specific instruments back to their original owners, making it much easier for thieves to sell them on with a slim likelihood of them ever being successfully returned to their rightful owner.
PUBLIC LIABILITY;
There are instances where a third party's equipment could get damaged during a performance thereby a musician with an expensive bill claim.
In order to help protect one from potentially very expensive claims, a specialized musician insurer who offers both public liability cover and professional indemnity cover could be used in these cases. Public liability cover does just that – it helps protect one in case one should injure a person(s) or damage third party property during the course of teaching or performing. Similarly professional indemnity help secure one from legal liability should one have given any negligent advice.
DAMAGED INSTRUMENTS;
Most times no matter how careful we are with our equipment, we could get into an accident and it could be damaged. The head of our guitar could break off or the knob of our bass guitar could break off. This would leave one with a large bill to fix or replace the instrument
Once a reputable insurer is chosen, their policy will cover the damage or even replace the damaged one.
There are as well other reasons why insurance is important for musicians. These reasons include;
PROTECTION FROM FINANCIAL LOSS;
As mentioned earlier about how a third party's equipment could get damaged during a performance. Our society is famous for being litigious. Unfortunately, even a single lawsuit could be financially ruinous for most musicians. This is why it's important to carry a policy that can cover most third-party general liability claims.
SECURES INSTRUMENTS;
In cases of theft, loss, or damage to equipment, if a musician has a reputable insurer that covers such areas of loss, theft, and damage of an instrument, a musician is sure secured about his equipment.
A good specialist musician insurer will go beyond the above-discussed elements of a strong policy to include such items as loss of earnings if you’re unable to perform, equipment breakdown cover, musical equipment hire while waiting for your replacement, or even personal accident cover if you injure yourself or worse.
Comments
Post a Comment