Perhaps you’ve heard of Stradivarius violins in the past. They are some of the finest pieces of musical equipment in the world, hand-crafted by Italian violin maker, Andrew Stradivarius. Because the maker is long dead, there aren’t ever going to be any new Stradivarius violins – at least not any authentic ones, for that matter. One-of-a-kind instruments like these deserve to be insured, but because high class musical instruments of all kinds can be quite expensive, even newer goods like digital pianos, harmonicas and other instruments should also be insured.
Think about it, just for a moment. For a musician, an instrument is just as important to one’s livelihood as a car is to someone who makes deliveries, or a computer is to someone who works in the IT profession. However, unlike cars, bulky desktop computers and other sizeable investments, many musical instruments, even very expensive ones, are surprisingly easy to steal – just pick up and walk off with, really. Therefore, anyone who buys sells or even just plays musical instruments will want to consider picking up theft insurance, if they don’t already have some.
Also like the vehicles, computers and other goods mentioned, musical instruments can get damaged or break down after extended use, requiring repairs, replacement parts or other fixes. This incidental type of damage is different from accidental damage, which might be caused by dropping a perfectly good instrument and having it get a ding, or something similar. You would need two different kinds of coverage to deal with these two different types of damages, but there are other insurance issues too.
Proper cleaning and replacement of mouthpieces, spit valves and other pieces of musical instruments which tend to collect germs is important to any business renting out instruments. If you’re selling outright and the instrument hasn’t been used before, then you probably don’t need to worry about this. However, leasing instruments requires you to pick up another type of insurance, in case someone gets sick using an item they rented from you or your business. It might not come to mind right away like some of these other insurance types, but it is a truly viable concern for some dealing in instruments.
No matter what you own – a harmonica, or a decent digital piano (if you are thinking of getting one, check out pianoreport.com) – insurance is a good choice. You’ll certainly feel better with the insurance than you will without it, and that sense of ease alone can be worth the small monthly premium your policy will cost. Naturally, smaller, cheaper and more common instruments will cost less to insure than bigger, more expensive and rarer ones, but unless you’ve got an authentic Stradivarius violin worth $1,000,000 or more, you can very likely afford to fully insure your musical instrument.
Buying insurance isn’t always the best option though. If your item is of such low value that it would be cheaper to simply replace in the event of damage, theft or loss, then that would be a better way for you to go. Only you know your unique insurance needs.