Deciding you need coverage to insure your band should be made before you start performing. Before you became a band, you were individuals creating music. Most of your needs were covered by either the home owner’s insurance or the instrument insurance that you purchased. As a band you need more protection, which is provided by musician’s coverage. This will not only protect your band members but also protect the instruments and audio equipment involved.
Buying the insurance involves checking out your needs, and making sure you have everything covered. For instance, you will need the following covers in the coverage
- Individual protection: The coverage should be able to protect the individual band members in every aspect. If you are travelling abroad for a concert, and you fall ill, the medical expenses can be quite expensive. Apart from that, you are not aware of the medical facilities available in the foreign countries. The coverage should offer not only the list of the facilities but also cover the expenses, thus making things easy for you
- Instrument protection: The instrument insurance is a good deal but, when you are a band involving too many instruments, applying for individual insurance can prove to be quite cumbersome. The musician’s coverage can help get a cover for all the instruments your band carries.
- Insuring equipment: With the right coverage you can even get the equipments you would be using to create and record music insured. This would help in case your equipment breaks while on the way or needs to be replaced. You can even rent out a equipment till your old one is repaired or till you get a new one
- Protection against robbery: Suppose your equipment or instrument is stolen from your studio or when you are travelling, you might have to spend a lot of money in getting a new one. You can save this cost if you have insured them against robbery. This way a half or certain amount is paid by the insurance company and you save a whole load of spending
The musicians coverage is indeed a boon for the musicians, especially bands involving heavy instruments and a lot of travelling. The benefit of the insurance depends on the dollar you spend in paying the premium. The dollar investment for premium depends entirely on your needs. Here is how you choose the premium amount
- What all do you require from the insurance? For instance, the band does not own a studio, they may not want the equipment coverage in the insurance they have chosen. This can be avoided. The requirement list will help achieve at the dollar limit
- Next, you need to choose the budget limit for your premium. This will help choose the insurance cover better
- Finally, compare the quotes and see which provider meets your premium budget and insurance needs together. The two put together will help you limit your dollar spend per month
So, ready to invest in a good coverage?