5 Reasons to Invest In Woodwinds Insurance for Your Instrument

As a musician, you leave no stone unturned to find an ideal instrument. You even do not hesitate to burn a hole in your wallet for purchasing the best accessories for it. But are you taking the right care of your ‘baby’ by investing in good musical instrument insurance? Well, buying insurance for your musical instruments before disaster strikes are of utmost significance as it will travel with you anywhere in the world to keep them protected. And if you invest in something as brilliant as Woodwinds Insurance, you can cherish the special bond with your instrument forever without any hassle. Wondering how smooth it can make your life as a musician?

Consider the following five reasons to understand its advantages better:

1. More than a Renters Insurance

If you are an amateur musician, a typical renters or homeowners' insurance policy floater is enough to ensure the protection of your instruments. But if you feel tempted to opt for such an add-on as a pro artist, go through the fine print twice. They usually exclude or voids coverage if your instruments are stolen or damaged during a gig. Only stand-alone musical instrument insurance can offer you extra coverage as a specified peril policy. Thus, you can get more than just a commercial coverage and stay assured about the safety of your instruments.

2. Protection Based on Needs
It can save you thousands of dollars by covering you with the ideal program based on your unique requirements. Whatever your music profile is about, you can surely find an insurance that will work for your hobby instruments or a whole orchestra. Some of the most popular underwriters who can benefit from it are professional musicians, music teachers, recording studios, collectors, and even luthiers. Comprehensive insurance is also offered for the ultimate protection of musical instruments in a musical concert or tour.

3. Wide Range of Coverage

From the routine maintenance to a major mishap, there is absolutely no dearth of coverage choice for you to stay prepared. Consider insuring all your instruments and gear (electrical, recording, accessories, amplifiers, sound equipment, etc.) to safeguard them from the most common threats, such as theft, fire, wind, flood, lightning, transportation, and accidental damage. Based on your policy, gradual deterioration can also be covered. However, you can expect exclusions like nuclear hazards, insects, vermin, mold, intentional damage, and poor storage.

4. Suitable for All Budgets

No matter what your budget is, there is always an insurance program to fit it. In general, the premiums and deductibles vary depending on factors like the type of the instrument, additional components, the overall value, risks associated with it, and so on. If you are a performer rather than a collector, the value of your instruments will be high as they need to be shipped from one venue to the next very often. Fragile pieces of equipment are also expensive to insure as they are prone to perils.

5. Complete Peace of Mind

In the long run, this instrument insurance is complete peace of mind instead of a mere investment.  After all, you have lots of things to worry about as a musician and the stress of protecting your instruments from harm can worsen the situation. Once you are insured, you can stay assured about the safety of your assets. Even if there is no sudden setback, you will always have one less reason to be anxious. It is worth it!

When it comes to taking care of your musical instruments, Woodwinds Insurance, indeed, works as the true caretaker. So, just choose the right policy and stay worry-free.

Secure your Peril-Prone Strings with Standalone String Instrument Insurance

You might often think that why on Earth do you need insurance. However, you do need insurance for things you least expect in our lives. And, therefore, insurance is more like a precautionary measure that prepares you financially to face possible uncertainties in life. So, you need it before the misfortune strikes. The same stands true for musical instruments too. So, if you play string instruments, a String Instrument Insurance is like your armor in tough times.

What should be the right value in which you should insure your gear? If you consider a policy equal to the price of your instrument, you should give a second thought to it. 

Here is why!

Let’s suppose your string is not much expensive. However, when you add a few accessories like some bows, a microphone, a packing case, etc., the total value will go up really fast. And, then you’ll find musical instrument insurance a smart option to bank upon, especially when your gear earns you bread and butter and you cannot afford to get a new one or even a replacement.

There are certain things you should learn before getting a String Instrument Insurance. Although most of the musical instrument plans offer similar services, there might be some differences.

For example -

Some insurance providers cover wooden instruments and dealers. Whereas, some insurers focus on covering rental fleets, schools, and students. And, then there are insurance policies that offer comprehensive cover.

So, you should choose one that meets your requirements while providing sufficient coverage.

Where to begin?

You should begin by doing your homework. Learn about the insurance companies you are considering as options. Search on the internet to understand their services, specialties, and the extent of coverage they offer. Once done with researching, you should make a list of your requirements and give follow-up calls to the companies.

One-Size-is-not-for-all!

Peril coverage, deductibles, and premiums vary from one company to the other. And, these mainly depend on what is being covered and the extent of coverage. Most importantly, there is nothing called the best in the industry because one policy does not fit all requirements and everyone’s requirements. Therefore, you should select the policy according to your needs.

Needless to mention, string instruments are peril-prone. Plus, bows are fragile and high-risk gears too. So, these will add to the cost of the policy. And, if you want to cover your insurance for theft, it will further increase the cost of the insurance. So, first of all, decide on what you want, and then look for a policy.

Worldwide coverage means a great deal!

String instrument coverage plans are specially designed to cover situations confronted by musicians. And, as musicians are likely to travel for shows, with customer-centric insurance companies, you are more likely to get worldwide coverage.

Coverage for rental instruments!

Sometimes, musicians do take instruments and associated accessories on rent or trial. What if you lost or damaged the rental gear or someone steals your instrument that you got on-trial? Check with your insurer if they cover similar circumstances or not.

Property insurance might not be enough for a musician!

Property insurance covers situations like damage, flood, fire, and theft. So, what else is left uncovered? You might think this way. Your property insurance may not cover your cello or any other string instrument if, things take an unfortunate turn outside your property. You are smart enough to get the point.

Don’t let devaluation demotivate you!

As far as musical instrument cover is concerned, especially string instruments, you cannot let go of an important aspect, i.e. devaluation. A crack in the sound post or a damaged bow-head can devalue your instrument by 50% to 80%. So, a policy that offers devaluation coverage is the safest bet for such situations. It will not only pay for the related repairs but also for the difference between the sum insured and the cost of your gear after being repaired.

A standalone policy is great!

An advantage of standalone string instrument policies is - you need to deal with people, who know a musician's world. They might not be musicians. However, they are familiar with the needs of a string player and understand how and when disasters can wreak havoc on a player's life. So, they can help you in the best possible way.

Besides insurance coverage, premiums, deductibles, and all sorts of technicalities involved with String Instrument Insurance, you should also consider a company that offers impeccable customer care services. The reason - it’s them who you’ll be dealing with once you have the insurance plan.

So, be informed and choose the right musical instrument service provider.

3 Reasons Why E&O Insurance should be Mandatory for Appraisers

It is an evident choice for people to stay clear of expensive lawsuits. We are talking about the truth behind Errors & Omissions (E&O Insurance) protection, especially when it comes to insurance for appraisers dealing with any kind of physical belongings, whether be musical instruments or other things. There is a common misconception that a General Insurance Protection policy covers all the threats related to such belongings.

However, unfortunately, that is not the case. In case of any damage, you need to gear up for some hefty liabilities. This is even more detrimental when an appraiser performs a blunder that is irreplaceable. It can be a dangerous sign for an owner or the insurance firm itself since both can suffer big losses from the mistakes committed by an appraiser.

In order to handle your business-related insurance protection risks, or to secure claims after damage, you require the understanding of protection offered by Errors & Omissions (E&O) insurance protection plan and how it is being misjudged as an optional choice.

•    General Protection Plan does not cover all threats related to assets damage

A General Protection Insurance Policy is just meant against the physical crash defense that usually happens with musical instruments. But, what if negligence caused by the Appraisers? There are no such clauses covering losses due to appraiser negligence, or mistakes - and hence there has to be something in place such as insurance for appraisers which is the case with E&O Insurance Policy.

E&O covers mistakes due to points to like bad code of consult or late disbursement. It's basically an Insurance policy for the malpractice on part of appraisers. E&O Insurance covers mistakes such as:

-    Mistakes, oversights, and carelessness
-    Failure to offer a timely settlement
-    Confidentiality violation
-    Document errors
-    Mismanagement
-    Misrepresentation of facts

•    Human mistakes happen all the time and hence E&O protection plan is a smart choice

You're deceiving yourself if your service strategy is constructed on ideal scenarios - since everyone makes errors. You can't possibly guarantee perfection, and it's reckless to even think that way. After all, you can't always peep into the job of your musical instrument or other such property related appraisers at any point in time.

Blunders happen; some are huge, some are little, but no one can stop them. An E&O plan ensures a business or a property owner to cover whatever degree of danger lies behind man-made mistakes. Errors and Omissions Insurance cover all those legal charges, maintaining priceless musical instruments possessions risk-free, as well as safeguarding a firm from useless claims.

•    E&O Policy is not that costly especially keeping in mind the after effects

You don't have to go overboard or spend a fortune into getting insurance for appraisers in the form of the E&O Insurance Protection Plan. Your E&O plan can be crafted to fit the size and the extent of your firm, consisting of workers and independent professionals. When looking from the property owner's perspective, think how important your musical instruments or other assets are to you, and what if the appraisers falter.

So, are you taking up an Insurance Cover or not?

As we have seen, E&O Insurance has a number of vital advantages that have been overlooked by most for some time now. This is so true and making it quite evident with musical instruments that are most vulnerable to damage. Hence, insurance for musical instruments becomes the utmost necessity in the form of E&O.

You have no control over the appraisers responsible for analyzing the insurance claims. They can commit mistakes that can either harm an insurance firm, or the property owner. This makes it so necessary to have additional insurance for appraisers that can have both sides protected while rectifying the mistakes.

Make no mistake about it that E&O Insurance, especially for musical instruments, is irreplaceable by any other insurance coverage. Hence, consult an experienced specialized firm like us to have you all set for an E&O insurance policy.