Are you looking for a perfect flute insurance policy that would cover you against all odds? Insuring musical instruments is fast gaining ground among the top musicians as well as amateurs. While no money can cover the emotional pain you go through when your instrument is stolen or damaged, these plans do cover the monetary aspect of the loss. As a flute or oboe player you would know how delicate your instrument is which makes it prone to damage. Apart from this, thousands of musicians lose their precious instruments in burglary, misplacement and transit loss every year. An insurance policy covers you against most risks, however there are a few things that you must keep in mind while choosing insurance for your flute.
Transit Insurance – This is perhaps the most important part of your coverage. Damage and loss of the instruments are highest when they are in transit. The cargo handling crew may not take required care of the instrument or they may be stolen when they are being moved from one destination to another. When you are playing at different cities and venues on a regular basis, this coverage becomes very important for your needs. It would protect you against all kinds of financial losses arising out of loss or damage to the instrument during transit.
Liability Coverage – There are thousand things that can go wrong during a concert and in many cases you may become the unlikely victim when bodily injuries are caused to fans and others at the event. This is where special event liability insurance becomes important to you. This protects you against third-party claims pertaining to injury and property damage that occur during your event. The liability coverage would protect you during all kinds of fairs and festivals, consumer shows, fundraisers, dances, meetings, luncheons, concerts and all others types of musical events.
Replacement Costs – One of the things that you ought to note while buying flute or oboe insurance is what kind of coverage it offers you. Traditionally if you bought vehicle insurance you would know that insurance companies apply depreciation rate while calculating your claims. The same logic applied to your musical instrument would make little sense and hence the insurance scheme that you buy should offer you replacement costs as per the current market rate, in case your flute or oboe is stolen or damaged beyond repairs.
Hiring Costs – Imagine a scenario where you need to perform in a concert and your instrument has been stolen or damaged during transit. In such a situation making an alternate arrangement for the performance would precede all other thoughts in your mind. Opt for an insurance policy that covers the cost of hiring an instrument in such circumstances. This may not be a standard coverage and come as an add-on package.
It is important that you choose a reputable insurance agency that exclusively caters to the needs of musicians. Some background research on them is a must before you think of hiring them.