Protect Your Recording Studio with The Best Insurance Plan

Do you remember the day when your long-awaited dream became true? Even now, you must be thrilled to reminisce about the auspicious moment you inaugurated your recording studio and stepped into it for the first time. With immense hard work and a lump sum investment in the way of capital, you must have spent many sleepless nights making a full-proof, well-designed plan to build your dream studio. But have you ever planned how you protect it? Do you know your dream studio is at risk?

Owning and operating a music studio is one of the most lucrative ventures. However, running a business without taking insurance is itself a risky decision. In case of accidents take place on your studio premises while recording can cause legal consequences. To eliminate the fear of loss, a comprehensive and dedicated insurance plan is a mandate for you that covers the recording studio with all music equipment. Recording Studio Insurance plays an active role as you get all the coverage for your valuable music premises and expensive instruments under one policy.

How does liability coverage protect your studio business from unexpected loss?

Liability coverage is an integral part of the business. Being an owner purchasing Recording Studio Insurance is a necessity. During your business tenure, many unexpected incidents may occur where you might face severe loss and even unpleasant legal harassment.

Here are some examples of liability insurance coverage options that may give you relief from future loss.

General Liability Insurance: If a third party meets with an accident and is injured or their personal property gets damaged on the premises of your recording studio, then a general liability insurance policy will reimburse the cost of medical expenses. Imagine during a stage performance, any artist trips over a pile of equipment and gets injured. Or, what if an artist gets hurt in the parking lot of the studio premises due to poor maintenance of the parking area, so in both cases, if the injured requires medical treatment, being a studio owner you will be responsible for paying all medical bills on behalf of the person and here you need a comprehensive coverage plan. You can have peace of mind as General liability coverage is there to prevent you from unexpected losses associated with your business.

Product Liability Insurance: It is a mandate for you as an entrepreneur to opt for Product liability insurance if your business is involved in product selling. It helps you to be secure from legal complications and severe losses. Suppose your client purchases equipment from your recording studio and gets injured or any of his personal property gets damaged due to some fault in your instrument, then the person can take legal action against you by claiming you are negligent. Even promoting defective products may also cause legal consequences. Product Liability Insurance covers bodily injury, accidental death, or damage to property of a third party.

Workers Compensation Insurance: It provides medical treatment and accidental death benefits to workers who get injured or killed during the job. If any mishap happens with your employees, being a business owner, you will be liable for the loss of the employee. Worker compensation insurance protects your employees and covers you from legal complications and severe loss.

Commercial Property Insurance: It covers the risks of financial damages and protects the company’s physical assets from fire, burst pipe, theft, and explosions. However, natural calamities like earthquakes and floods are not covered in commercial property insurance unless the perils are added to the policy.

Special event liability insurance: It covers financial losses due to an occurrence of any unavoidable circumstances leading to the event getting canceled by the organizer. For example, being a studio owner when you cancel an event owing to illness, natural disasters, or an accident at your premises. In that case, Special Event Liability Insurance is there to save you from all these hassles.

What Do You Need to Know Before Buying a Piano?

If you are unsure what to check before buying a piano, here are a few vital checklists that would help you to choose a good-quality instrument.

•    Interior and exterior components are vital factors that determine the quality of your musical device.

•    Avoid online purchases of expensive musical equipment and buy it from a store. Generally, a proper physical check is better before finalizing.

•    Check the sound by playing the keyboard to determine the quality of the piano. Some people like a brighter tone whereas few prefer a mellower one.

•    Keys ought to have a smooth surface and should be touch sensitive. A 61-key instrument is perfect for a beginner. For professionals, an 88-key piano is the best choice.

•    Finally, always check user reviews before making a purchase.

Homeowner insurance is not adequate to cover your favorite instrument from all the accidental damages.

Despite taking all preventive steps for your all-time favorite keyboard what if any disaster or accident occurs? As a piano player, you know your special instrument needs special care. Safety and protection both act as a safeguard for your expensive musical gear. There is no doubt that to get it secured you need coverage and that too specialized piano insurance. An often-asked common question is despite having a homeowner coverage plan what is the need of buying separate musical insurance?

Homeowner insurance indeed covers the risk of all household furnishings that include musical equipment. However, it is only up to a certain amount. As the piano is an expensive instrument, there is a possibility of not getting the desired amount of claim owing to the high value. The little you might get will not suffice your requirement if you need to repair or replace your piano. Moreover, homeowner policy does not cover risk owing to natural calamities like floods and earthquakes. Better to opt for specialized insurance for musical instruments as the homeowner can recoup the cost of repair or replacement of the damage.

Do you need separate insurance for your piano?

A piano is an expensive musical instrument and also a lifetime asset for a piano player. Therefore, it's better to buy a dedicated piano insurance policy, to protect the value of your piano and minimize the risk of any financial loss occurring due to any mishap.

Let's figure out the circumstances where your piano might get covered by a specified plan.

•    In case of fire at your home, the piano is also at risk of incurring damage caused by smoke. At the same time, it may get damaged owing to intense dryness and wet condition due to putting out the fire.

•    Natural disasters like lightning, thunderstorms and heavy downpour may occur severe damage. The roof of your home may not withstand its effect resulting in water leakage and can cause damage to your piano.

•    Additionally, it covers any damage to the musical equipment caused due to robbery and burglary at the insured's place. Plus, destruction due to uproar of riots and explosions get also covered in dedicated instrument insurance.

Things you need to keep handy to claim your insurance for the piano

•    Collecting all the photos is essential in case of any accidental damage.

•    Report stolen items immediately to the police station and do an FIR.

•    Valuation of the instrument or purchase receipt as proof of ownership gets considered a piece of evidence.

•    The claim form needs to get filled up with all the correct information.

Conclusion

The key to protecting your prized asset comes with regular maintenance and adequate insurance coverage at an affordable premium. As we all know, accidents are unavoidable so insurance is the only solution where the risk of losing your valuable asset can be mitigated and thereby allowing you to continue playing music for a lifespan.

What Kind of Insurance does a Retail Business Need?

Retail coverage shields your business from possible risks, complications, lawsuits, and additional issues that may hamper the smooth running of your business. Most retail businesses should possess general liability cover and commercial property plan to make sure that their business is guarded against common risks, including property damage, loss or damage to a customer, etc. In case you intend to get a space on rent, most landlords are likely to ask you to produce proof of property damage and third-party liability cover before letting you rent their retail space.

Although these two programs may be enough for some businesses, others may seek additional coverage, like worker's compensation insurance and loss of income cover, among others.

Are you looking forward to learning about Insurance for Retailers as much as possible? It is the right place to be. Here, we have covered various types of insurance plans for retailers that will protect them from the unexpected.

Retail insurance: What is the definition?

A retail business policy is a type of insurance product that protects your retail outlet from a range of unforeseen yet possible scenarios. An ideal insurance cover for retailers should include everyday risks and the ones related to your business. Some of the common issues that a retailer is likely to face include the following:

●    Mishaps that cause loss or damage to a customer or their property
●    Situations or weather conditions that are likely to pose damage to your commercial property
●    Damage or theft of merchandise and business equipment
●    Data breach
●    Accidents that injure an employee(s) on the job
●    Loss of income if your store is closed for repairs
 

What types of retail businesses should have retailer insurance?

Some of the examples include - musical instrument shops, grocery shops, jewelry or clothing stores, flower shops, etc. These shops should not delay getting Insurance for Retailers as it can save them from different types of odds.

What insurance policies do a retail business need?

Most retailers should at least have a commercial property and general liability coverage. These plans are especially crucial if you want to lease a retail space. Have a look at the deets:

Commercial property coverage

It protects your retail business property, including the building, outdoor signage, furniture, equipment, inventory, computers, and documents. It pays for damage due to accidents, specific hazards, and weather conditions. It includes the following:

●    Lightning
●    Fire
●    Hailstorm
●    Explosion
●    Vandalism

General liability insurance covers the following:

It includes third-party lawsuits or compensation claims against physical injury that happened at your business property. For example - if you own a musical instrument shop, and a customer or visitor slips and falls due to wire and cables scattered all around your store and fractures their leg, your insurance plan would take care of all the expenses related to legal and medical costs.

If a third-party file a lawsuit against you or asks for compensation for property damage that is related to your business, general liability coverage will protect you and bear all the associated expenses.

Other retail insurance covers

Every retail business is different in terms of its nature, potential risks, and insurance requirements. Therefore, you are most likely to consider fool-proof coverage. Therefore, we have rounded up some additional retail insurance plans that you may need. Please find them below:

●    Commercial auto insurance
●    Worker's compensation cover
●    Product liability cover
●    Loss of income coverage
●    Employee dishonesty insurance

Retail Insurance: What is the expected cost?

The cost of an insurance plan for retailers depends on various factors. These include the following:

●    Type and extent of coverage
●    Policy maximum
●    Number of insurance plans
●    Location of the business
●    Workforce size
●    Claim history
●    Nature of the retail business
●    Industry

The bottom line

Moreover, one of the best ways to expect an accurate estimate of the cost involved in buying a retail insurance cover is to ask for free price quotes from your insurance provider. Reliable and customer-oriented retail insurance companies would be more than happy to help you.

String Instrument Insurance: Cost, Coverage & Providers

It does not matter if you have rented a string instrument or have bought a brand new one - regularly maintaining it is necessary so that it delivers a pleasant sound.

In order to keep it in a good condition, we often use dry towels to remove oil, change the strings and whatnot.

Doing all of these preserves the string instrument but that does not guarantee to safeguard it entirely. In that case, you can simply safeguard your significant investment by purchasing a string instrument insurance.

What Do You Mean by String Instrument?

The string instruments can be understood as those musical instruments that produce sound by vibrating the strings. Some of the string instruments include violin, viola, cello, guitar, mandolin, and more.

These musical instruments are considered to be highly versatile and well-loved among the other types of musical instrument’s present in the world. Not to mention, individuals value them so much that they look forward to safeguarding them in every way possible.

How Much Does a String Instrument Insurance Cost?

When it comes to purchasing string instrument insurance, the costs may vary from one insurance provider to another. You can expect the average cost to be around $0.70 to $3.00 per $150 in coverage.

While the minimum coverage amount can start at around $500.  However, when looking forward to the most affordable deals, you can choose to select Clarion Musical Instrument Insurance which has unique options available for your diverse needs.

What Benefits and Features Do String Instruments Insurances Come With?

Most string instrument insurance plans include repairing and replacing the musical instrument. However, to be specific they get you covered at times when the strings of the instrument get accidentally broken or damaged due to natural disaster.

Also, they get you covered when you leave the instrument in transit during your travel abroad for musical events. The string instrument insurance offers replacement instrument costs alongside the ability to cover all the accessories that it includes.

Why Is It Important to Get String Instrument Insurance?

There are various advantages that come along with getting string instrument insurance. To be precise, these include as follows.

●    Get A New String Instrument

When you have a string instrument, the chances of it getting damaged or destroyed are always high. It does not matter how much you take care of it - you may never see an unwanted situation coming.

But having insurance can help you get covered. In simple words, the amount of time you would be spending without the instrument would be reduced as the coverage will help you to get a new one.

●    Save Money on Repairs

When your string instrument does not work properly or happens to meet an accident, that's when you can save money on repairs because of the insurance coverage. Keeping the situation, you are stuck at the time, the insurance providers would assist you.

Get Your String Instrument Covered Today
 
It may feel challenging to find string instrument insurance as there are a plethora of options available in the market. In that case, you can count on Clarion Musical Instrument Insurance which is a leading and top-rated insurance provider.
 
Being in this industry for over 50 years, they have their insurance plans designed specifically to keep the diverse needs of musicians in mind.

In their presence, you can expect to receive assistance in getting a quotation as well as reliable services without any hassle. Moreover, they have an exclusive array of policies available at affordable rates to pick from.