Can you predict a disaster? Is it wise to wait for a disaster to occur before you take steps to rectify the problem? Unfortunately in real life, we often tend to procrastinate and eventually end up waiting for the disaster to happen. As a professional musician, if you do not value your instruments or studio, you will only regret it later in life. For a musician who has to travel far and wide to entertain and also earn a living, insurance plays a very important role. As a musician, you have several options of buying insurance.
For example, you can buy woodwinds insurance if you play the piccolo, clarinet, oboe, or the flute. On the other hand if you buy and sell different types of musical instruments, you will need music dealer insurance. Irrespective of the kind of insurance you buy for yourself (and your instrument), it is important you have answers to the following five questions.
# Question 1 – Which Is The Insurance Company?
The first question and the most basic one is about the insurance company itself. You have to do your homework well enough to know what kind of insurance the company sells, how long the company has been in business and what’s the size of its operations? It is always wise to be fully aware of the insurance company before you do business with them.
# Question 2 – What Is Your Need?
When it’s a question about getting music insurance, the very important question is why you need the insurance. If you play an instrument merely as a hobby does it make sense to block so much money every year for paying insurance premiums? However, if you are a professional musician, identifying the risk of not buying insurance is essential.
# Question 3 – What Are The Benefits of The Insurance?
You should ask your insurance agent all the basics of the policy he is offering you. This means you should dig out information such as how long will the policy last, what are the renewing criteria, what’s the premium like and what’s the rate of return? If you do not see any benefit in the insurance, it makes no sense to buy it at all.
# Question 4 – What Happens If Premiums Are Not Paid?
Paying premiums on time is one of the key essentials of insurance. But what happens if you do not pay on time? Most often insurance companies give a grace period of 60 to 90 days to policyholders so that they can pay the premium. However if you are going through a major financial crunch, your insurance company may offer you the options of borrowing a loan against the cash value of the policy.
# Question 5 – Does It Insure Musical Instrument You Own?
What if you approach an insurance company which doesn’t offer polices for piccolo but does for an oboe and all you have is the former? Not all music insurance company offer policies for all musical instruments. You have to find out beforehand whether the company covers the instruments you are interested in insuring.
For example, you can buy woodwinds insurance if you play the piccolo, clarinet, oboe, or the flute. On the other hand if you buy and sell different types of musical instruments, you will need music dealer insurance. Irrespective of the kind of insurance you buy for yourself (and your instrument), it is important you have answers to the following five questions.
# Question 1 – Which Is The Insurance Company?
The first question and the most basic one is about the insurance company itself. You have to do your homework well enough to know what kind of insurance the company sells, how long the company has been in business and what’s the size of its operations? It is always wise to be fully aware of the insurance company before you do business with them.
# Question 2 – What Is Your Need?
When it’s a question about getting music insurance, the very important question is why you need the insurance. If you play an instrument merely as a hobby does it make sense to block so much money every year for paying insurance premiums? However, if you are a professional musician, identifying the risk of not buying insurance is essential.
# Question 3 – What Are The Benefits of The Insurance?
You should ask your insurance agent all the basics of the policy he is offering you. This means you should dig out information such as how long will the policy last, what are the renewing criteria, what’s the premium like and what’s the rate of return? If you do not see any benefit in the insurance, it makes no sense to buy it at all.
# Question 4 – What Happens If Premiums Are Not Paid?
Paying premiums on time is one of the key essentials of insurance. But what happens if you do not pay on time? Most often insurance companies give a grace period of 60 to 90 days to policyholders so that they can pay the premium. However if you are going through a major financial crunch, your insurance company may offer you the options of borrowing a loan against the cash value of the policy.
# Question 5 – Does It Insure Musical Instrument You Own?
What if you approach an insurance company which doesn’t offer polices for piccolo but does for an oboe and all you have is the former? Not all music insurance company offer policies for all musical instruments. You have to find out beforehand whether the company covers the instruments you are interested in insuring.
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