Theft

Coverage for instrument theft is a common reason musicians need instrument insurance. Instruments can be stolen from anywhere, ranging from vehicles and homes to performance venues and studios. A dedicated policy for your instrument can help cover the costs to replace your instrument no matter where it is stolen. You may even have the right to repurchase stolen items should they be put up for sale.

Accidental Damage

Even the most experienced musicians can have accidents, and the cost of repair can be expensive, especially for fine and vintage instruments. A musical instrument insurance policy can cover costs to replace or repair damage caused by drops, spills, or other unexpected accidents.

Fire, Earthquake, and Flood Damage

Damage or loss caused by fire, earthquake, flood, and other natural disasters is typically covered under musical instrument insurance policies, but is typically excluded from homeowners policies.

Coverage for Gigs and Performances

For musicians who rely on their instruments for gigs and performances, damaged instruments can directly result in lost income. Not typically covered under homeowners or other property insurance, professional usage of instruments is covered under a dedicated policy. Some policies may also offer coverage for lost income due to loss or damage.

Off Premises Coverage

Musicians and instructors may often travel with their instruments to perform or practice. Coverage can protect instruments while being driven between performances, on flights, in hotels, and on tour.

While a dedicated policy will cover almost everything as it relates to accidental damage or theft of instruments, there are some exclusions which may include:

• Governmental action or nuclear hazard
• Damage by pests or vermin
• Unexplained disappearance (not loss or theft)
• Wear and tear
• Pre-existing damage

Consider musical instrument insurance available through the Alumni Benefits Program, offering all-risk, worldwide coverage.