A piano is a significant investment for people, especially musicians. Most musicians travel worldwide to perform, but traveling with their musical instruments is unsafe. Unfortunately, events can happen anywhere. For instance, your piano may have been caught on fire, stolen, or damaged due to other causes.

However, you can protect your musical instrument, such as a piano, by getting insurance for your instruments, sound & lighting equipment, recording gear, and miscellaneous audio accessories. Most musicians don't know about piano insurance. Here you can better understand musical instrument cover and its benefits, coverage, and limitations.
 
What is piano insurance?

Musicians adore their musical instruments and can go to any extent to protect them from various damages. Whether an amateur or professional musician, you have a powerful bond with your piano. Aside from emotional value, repairing your piano is expensive. Fortunately, you can save yourself from paying the expensive repair costs of your piano with insurance. You can purchase it from any company.

Understand The Features and Benefits

Before you get any policy, you should check its features, eligibility, and coverage to ensure it benefits you. Most musicians get musical instrument insurance, but you should get specialized coverage as it provides additional benefits.

The key features of this policy include the following:

●    It comes with an affordable premium amount and secure benefits.
●    This policy covers a variety of mishaps.
●    Anyone can apply for this insurance and pay using a convenient method.
●    You need minimum documentation, such as an FIR copy, an invoice for the piano, and a claim form for claiming.

What does piano insurance cover?

The coverage of this instrument insurance policy includes:

●    Damage in transit

Generally, companies cover your piano or equipment against damage occurring while moving, whether heading to rehearsal or tour.

●    Accidental loss

If you accidentally lose your musical instrument on tour, you can claim the insured amount for your instrument. This policy allows you to keep playing your music regardless of hurdles.

●    Theft and robbery

Theft or burglary can happen to any possession, especially to expensive musical instruments. If theft damages, steals, or attempts to steal your precious piano, don't worry; this is also covered under this policy.

●    Fire damage

You can get covered if the studio where you keep your piano catches fire and damages your musical instruments. Under this policy, you can cover your piano against damage due to riots, explosions, fires, strikes, and implosions. It also covers damage or loss caused due to natural calamities like floods, storms, etc.

●    Depreciation after a repair

If your piano gets repaired but loses its value due to damage, the company will pay you the amount of depreciation for your piano.

What are the limitations?

With this insurance, accidental damage is covered. However, if you intentionally smash your piano at the show's end, the company will refuse to cover the damage. The company also doesn't cover your piano against damage or loss due to pollution or contamination.

Pianos depreciate to 78% of their value in the first year and decrease by 5% yearly. Hence, most companies do not cover old or second-hand pianos. You should apply for piano insurance policy for your musical instrument within 30 days of the purchase date mentioned in the invoice.

What is public liability?

This policy covers any loss or damage your musical instrument causes to third-party property. For instance, you must pay compensation if an audience member gets injured during your tour. But if you have public liability added to your musical instrument insurance, it can protect you in all circumstances.

Conclusion

Now you have learned all the necessary things related to piano insurance. You can apply for this after estimating the value of your instrument. This musical instrument policy protects your piano against accidental loss, theft, and damage.