Instrument insurance question

I haven't personally used them, but I'm thinking about it after reading TB'ers mention them in other in the Praise and Worship Band thread.

 

I use Clarion. I'm given to understand that even if homeowner's offered a carrier, if they could prove ANY type of "professional" use, they could deny the claim.

 

Unless the policy specifically says it will pay if the equipment is being used while getting paid, expect they will disclaim. Read the policy, don't rely on what someone tells you.

 

My insurance company says my stuff is insured IN MY HOUSE, or in my car if it's not being used for professional purposes. That to me sounds vague enough that they can easily deny a claim. How do they know what you are using it for? What if my instruments are in my house, but I had a gig last night? Is a backyard party 'professional'?
Too many variables to just blindly assume you are insured.

 

If a home owner policy were to cover for gigs, the premium would be a lot more.

 

If you paid taxes on music income, or claimed the instruments as a business expense, then there's a record of it.

 

when i ran some music businesses i had business insurance because that's what you do when you're in business! if music is not your business, but you do it anyway ("i'm a pro") = you take your lumps/losses. IME: homeowner's insurance is limiting if you play out for money...but we all do it.

 

I analyze insurance policies as a function of my profession. There are usually exclusions or severe limitations on gear used for business purposes, even if the loss is unrelated to that business. Each individual policy must be evaluated on its own, however. I suspect that you would be better off with a business policy from a company which specializes in your type of business.

Edit: In this case, I'm referencing the type of Homeowner's Policies which I typically encounter (HO-3's, HO-6's, etc.)

 

while i haven’t currently used them, i’ve heard nothing but good things about MusicPro Insurance -- Affordable Insurance for the Music Professional. i will be using them soon.

 

Hi @40Hz curious to hear your experience if you ended up going with MusicPro. I have to find a similar solution and keep coming back to MusicPro -- hoping it worked out for you.

@ThePez Did you end up getting a policy?

I understand some use homeowner's policy but that is not an option for me. The coverage limits are too low.

 

I've had instrument insurance for years and never had to use it (thankfully) so take that for what you will. But I recently switched from Clarion to MusicPro because Clarion was getting too expensive. For about $25K of coverage Clarion was asking for $100 more per year than MusicPro. I'm not sure what they take into account, but I know that Clarion started raising my premium as I accumulated more and more pedals.

 

I’ve been with heritage for many years. Luckily, I haven’t had to put in a claim.
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