What risks does a music gear rental policy protect against?
Music gear rental policies usually protect covered equipment against several potential risks that could result in loss or damage. These can include perils such as:
- Damage during transit
- Weather-related damage
- Smoke or fire or smoke damage
- Water damage
Does music gear rental insurance cover accidental damage?
Many music equipment rental policies provide coverage for accidental damage, especially policies that are primarily focused on insuring instruments. Not all policies cover accidental damage, though.
Musicians should work with a knowledgeable insurance agent when reviewing a policy’s terms to confirm that the particular policy includes accidental damage protection.
Are rented musical instruments covered by homeowners insurance?
Homeowners insurance policies often provide at least some coverage for owned musical instruments and gear. Homeowners policies less frequently extend coverage to rented equipment, as this isn’t actual personal property of the homeowner.
Musicians normally need rental insurance when renting equipment, even if their owned equipment is covered by a homeowners policy. A knowledgeable insurance agent can help confirm that this indeed holds true in a particular situation.
How much does a music equipment rental policy cost?
How much rented music equipment costs to insure depends on multiple factors, but tends to be quite affordable. Insurers are usually able to keep premiums fairly low, because these policies protect specific items against specific risks.
To find out exactly how much insurance will cost for a particular rental, musicians can request a customized rental insurance quote. A customized quote can show exactly how much a policy with the chosen features will cost.