What is musical instrument rental insurance?
When you rent a musical instrument, you take on the responsibility of caring for the instrument. Should you be responsible for it, you could be held financially responsible for any repair or replacement that’s needed. This is where musical instrument rental insurance comes in.
Musical instrument rental insurance is specialized property insurance for rented instruments. Policies typically protect an instrument against a range of risks that could result in damage or loss.
Who should consider music instrument rental insurance?
Most people who purchase music instrument rental coverage are students and their parents. Renting is a great way to explore playing an instrument, and insurance is a good way to protect the rental.
In limited cases, professionals might rent an instrument and need coverage. For example, a professional might need coverage if renting an instrument while theirs is repaired.
When a professional does rent an instrument short-term, it’s important to make sure that the insurance policy provides sufficient coverage for the instrument’s value. This can be quite a large amount if renting a high-end instrument. An insurance agent who specializes in these policies can help make sure the full value of an instrument is below the maximum limit of a policy.