Insurance on Band Equipment

[Offlimits]

Do you need to have seperate insurance for your band equipment as well as the trailer when hauling back in forth to gigs or would it covered under your homeowner?

[Marsman365]

Typically speaking, if you are using your equipment to make money, or for a business, you need to carry separate insurance. Homeowners usually only covers musical instruments, equipment, etc. if it is only used as a hobby. Basically, if you are hauling your equipment to a gig, or practice for a band that has been paid for it's services (or will be paid in the case of a new band) it typically isn't covered by homeowners.

Even if you only use it for hobby purposes, you may want to check with your insurance company to make sure it's covered. Depending on the policy there may be exclusions, and you don't want to find out when you go to make a claim.

Best advice, talk to you insurance agent. They'll know you policy, and be able to point you in the right direction. A good insurance agent will work with you to make sure you have appropriate coverage and not rip you off.

[4_the_pocket]

If you want the most comprehensive insurance covering everything, but nuclear and civil war (not kidding) you want whats called an "Inland Marine Floater" policy. Basic homeowners insurance is fine if you dont gig.

It can be a little expensive. It may not seem so much if you have to replace all of your equipment after suffering a complete loss.

Ive dealt with these two companies and they specialize in insurance for musicians.

http://www.clarionins.com/
http://www.andersongroup.us/musical-ins ... rance.html

[lonewolf]

Do you need to have seperate insurance for your band equipment as well as the trailer when hauling back in forth to gigs or would it covered under your homeowner?

Yes, you need separate or additional insurance for gigging equipment.

Talk to your car insurance company about the trailer.

[Offlimits]

Thanks for the info. it is really helpful. I thought I needed seperate insurance but was not 100% sure.

Thanks again
Rick

[floodcitybrass]

Its kinda weird, if you are a hobbiest then home owners stuff that you would typically have in your home (where you wouldn't make money on it). For example: couch, tv, a camera, a piano.
So if a pipe breaks in your house and destroys this stuff, home owners should cover it. Now if you have $15000 worth of high end cameras, home owners may not cover this because it is beyond what the normal person would have. So like the others said, its best to check with your agent and policy. Every policy is different.


4_the_pocket is exactly right. You need inland marine insurance. It covers pretty much everything except intentional human error/misuse.
We carry a policy that covers about $16000 worth of insurance and it costs about $250 per year. Right now we only have some equipment insured.

I can put you in contact with with an agent that deals well with these kinds of policies. They are also good with dealing with other types of insurance too.

[moxham123]

I used to sell property and casualty insurance and there are strict limitations on homeowners, renter's, and auto insurance policies regarding musical equipment. Each insurance company would have the specifications. You can list each musical item you would like to have covered individually on a separate rider for a stated value and pay a separate permium for each item on your existing homeowners or renter's insurance policy and this is really good for highly valuable pieces especially. This is similar to covering jewelry. However, you should check with your insurnace company first regarding using equipment out in other venues as a business. Separate musical equipment insurance can be purchased usually through speciality carriers and collectibles through a company called Chubb that is excellent for these things especially for working musicians. Don't assume anything is automatically covered on exisiting policies.

You MUST carry separate trailer insurance for any type of trailer you use and pull with any vehicle, yours or somebody else's for hauling anything. Trailer insurance is required in all 50 states. Contact your auto policy holder for details. Trailer insurance is very inexpensive. you also have to have a trailer registered and have PA trailer plates on it and it must be road legal.

Side Note. If you do not have a separate federal government flood insurance policy for your home in addition to your normal homeowners poilcy and your house and belongings are swept away in a flood, nothing is covered without flood insurance. Worth checking into if you live in a flood plain area.

[4_the_pocket]

You MUST carry separate trailer insurance for any type of trailer you use and pull with any vehicle, yours or somebody else's for hauling anything. Trailer insurance is required in all 50 states. Contact your auto policy holder for details. Trailer insurance is very inexpensive. you also have to have a trailer registered and have PA trailer plates on it and it must be road legal.

In regards to this. Please correct me if I am wrong. I played in a band that hauled pretty much everything in a trailer. The owner of the trailer said only his gear was covered if there was ever an accident....not the rest of the band. Is that correct to the best of your knowledge? I mistakenly assumed it was covered and it was at that point I got a policy that covered everything against everything.

I have approximately $25k of gear covered for a little over $300 a year. I sleep well - ha ha!

Expect to provide the following if going this route:

- You will have to submit a complete inventory of your gear to the insurance company, including company letterhead with the replacement value of some of your stuff and possibly some appraisals by experts. You may also be asked to provide photos and serial numbers as well (you should do this anyway just to cover your butt so there are no questions). **I provided serial numbers for all drums and cymbals - this can aid in theft recovery**

- Calculate the replacement value as brand new. You will need an appraisal of gear if its vintage, rare or collectible. I was shocked when I did my inventory and did a comparison of new value verses approximate worth.

[floodcitybrass]

You MUST carry separate trailer insurance for any type of trailer you use and pull with any vehicle, yours or somebody else's for hauling anything. Trailer insurance is required in all 50 states. Contact your auto policy holder for details. Trailer insurance is very inexpensive. you also have to have a trailer registered and have PA trailer plates on it and it must be road legal.

In regards to this. Please correct me if I am wrong. I played in a band that hauled pretty much everything in a trailer. The owner of the trailer said only his gear was covered if there was ever an accident....not the rest of the band. Is that correct to the best of your knowledge? I mistakenly assumed it was covered and it was at that point I got a policy that covered everything against everything.

To my knowledge it is NOT covered by default. Insurance companies will cover the vehicle it self plus the stuff ATTATCHED to the vehicle or trailer.
For example, if your car gets broken in to and the radio and CDs get stolen. They will replace the broken window, the radio but will NOT replace the CDs. And that is IF you have insurance *beyond* liability insurance.

I have used trailers and box trucks and have never had a policy that covers the contents inside. A separate policy was always required (inland marine).