Keeping Nashville Covered – Musical Instruments & Your Home Insurance

Keeping Nashville Covered – Musical Instruments & Your Home Insurance

If you lived in Nashville five years ago on May 1, 2010, you faced The Flood.  The 2010 flood affected thousands of people in and around Nashville, causing extensive and devastating damage, costing lives and millions of dollars in losses.  Being Music City, USA, numerous instruments, venues and musicians were deeply affected.

Post 3 – Covering Instruments

As a proud resident of Nashville, you likely own an instrument or ten that you play and cherish.  Whether you jam in a condo in The Gulch or are a porch-picker in Williamson County, your instruments are important and valuable.  And, as lots of musicians discovered in May of 2010, your instrument isn’t automatically fully insured by your homeowner’s insurance.

Maybe your property wasn’t covered for flood damage.  Or maybe your instruments were worth more than the insurance company’s limits.  Maybe you didn’t know they were only covered within your home or if you are an amateur musician.   Now you know what wasn’t covered, and maybe even know why.  But what can you do about protecting your instruments going forward?

Musical instruments such as guitars, violins, pianos, and even drums can be individually covered by insurance riders added to your homeowner’s insurance policy.  There is a small additional premium but the policy covers a variety of losses, including theft, damage during transportation (i.e. baggage handling on flights,) breakage and even flood damage.  However, most homeowner’s policies do not provide insurance for instruments if they are used in a capacity to earn money.

Luckily, professionals, there are several reputable insurance companies that offer insurance coverage to protect the instruments you do use to earn a livelihood.  MusicPro Insurance, Clarion Insurance, and Heritage Insurance are a few that offer instrument insurance to professional musicians.  You can also contact membership groups you are affiliated with for recommendations of equipment and instrument coverage.

And if you are in the market for an impressive instrument, look at this vintage Gibson Les Paul available on Gruhn Guitars’ website: http://guitars.com/inventory/eb6584-1958-gibson-les-paul-standard .

Speak with your homeowner’s insurance agent to determine if your instrument is adequately covered.

For information regarding insuring jewelry and fine arts, please see the prior posts.http://on.trulia.com/1xSvt4C  http://on.trulia.com/1EyFv3r

Photo courtesy of Matt Davis.