Don’t risk being ousted from the band because of a damaged or stolen instrument. Learn how insurance helps protect your band, business, and bank account below — along with how to get instrument insurance (and what it costs).
How to Insure Band & Musical Instruments: Step by Step
Insurance for musical instruments from Insurance Canopy is an optional add-on coverage to our base band liability insurance policy. You can easily add this coverage to an existing policy, or opt-in to include it in your initial policy at checkout.
How to insure musical instruments as an existing Insurance Canopy policyholder:
- Log in to your online dashboard
- Under “Manage policies,” click “Change policy options”
- Under the “Gear & Equipment Coverage” section, choose your level of coverage
- Input payment information and view your updated policy
How to insure your musical instruments if you’re a new customer and also need liability insurance:
- Go to the purchase page
- Select “musician/band” and click “next”
- Choose the level of instrument (equipment) coverage you want
- Complete the rest of the coverage and information questions as prompted
- Input your payment information, check out, and receive instant confirmation of coverage
If you have additional questions or want assistance getting coverage from a licensed agent, call us at 844.520.6993.
Additional Tips for Protecting Your Instruments
The steps outlined above show you how to buy instrument insurance. The tips below ensure you get the right amount of coverage and are prepared if you ever need to file an actual claim.
- Make a list of all your gear, including every instrument, case, accessory, and other item you use to create music and perform as a band
- Take clear photos of each instrument and piece of gear, along with serial numbers or other identifying marks
- Collect as many receipts for your items as possible for your records
- Store this information in a secure location so it doesn’t get lost
- Learn more about how to file a claim with Insurance Canopy
Pro tip: For claims involving theft, a copy of a police report is required.
How Insuring Your Instruments Protects Your Band & Your Bank Account
In the event your instrument is stolen or otherwise damaged, musical instrument insurance is designed to pay to repair or replace your damaged items. So, instead of saving money yourself, this insurance can step in to help you get back to playing faster than if you were on your own.
It covers any instrument(s) you play as part of your performance(s). It also applies to amps, microphones, laptops, and any other gear you use as part of your music-making business.
According to Max Browne, musician and music educator at M Browne Music, performing regularly can pose some risks to your instruments.
“Gigging out means you’re at risk of common things like spilled beer on your pedalboard (or other equipment) and people tripping over cords and causing a guitar to fall over. I once had thousands of dollars’ worth of gear stolen — my amp and multiple pedals, all gone overnight.
Of course, there’s sentimental value in the instruments and gear you use to create music, but knowing your coverage can pay to get those things replaced if needed gives you a lot of peace of mind.”
Examples of What Band Instrument Insurance Covers
Musical instrument insurance covers claims involving:
- Vandalism
- Wind damage
- Power surges
- Fire and smoke damage
- Other accidental damage
- Water damage from rain and/or sprinklers
- Theft from locked vehicles or secure storage
- Damage from transportation to and from venues
While all claims are handled on a case-by-case basis, examples of covered claims include:
- Wind knocks over a cello, damaging its neck
- Instruments and other gear are stolen out of a locked trailer during a festival
- You get into an accident while driving to a gig, and several instruments get cracked
- A guest trips over a cord attached to an electric guitar, pulling it down and breaking it
Instrument insurance typically does not cover losses or damage related to:
- Dishonest acts (like stealing) committed by any employees, partners, band members, or other representatives of yours
- Intentional, illegal, or fraudulent acts
- Mysterious disappearances
- Government actions
- Volcanic activity
- Wear and tear
- Earthquakes
- Flooding
Examples of claims that would not be covered include:
- Your flute disappears from an unsupervised staging area, with no security cameras, no witnesses, and no police report for theft
- A bandmate plays one of your guitars during a set and ends the show by smashing it on stage
- You leave your violin out when you’re at home, after a year of playing, sun exposure, and drastic temperature changes, the bridge and bow become cracked and warped
Why Musical Instrument Insurance Is Worth It for Bands
Instrument insurance is a smart investment for bands for several reasons:
- It protects you from paying the full cost of instrument repairs and replacements out of pocket
- It’s cost-effective, meaning one year of instrument insurance costs less than most decent beginner’s guitars
- Homeowners and rental insurance policies typically don’t cover equipment you use for business (and playing gigs for money is a business!)
- It provides peace of mind, so you can spend less time and energy worrying about your equipment
You may be the most responsible and careful instrument owner, but accidents can still happen. If they do, you may end up without a way to play any music. Without instrument insurance, you’d be out not only your instrument itself, but whatever it costs to fix or replace it.
Here’s an example instrument claim with and without insurance. In this case, your band liability insurance ($199/year) plus instrument coverage ($90/year) costs $289/year. It covers up to $2,000 in damages, and includes a $250 deductible. Your instrument is a Taylor guitar valued at $1,000 that gets irreparably damaged in a studio fire.
Cost of replacing your guitar without insurance
You pay: $1,000+ out of pocket to get a new guitar.
Cost of replacing a guitar with insurance
You pay: $250 for your claim deductible.
Insurance pays you: $1,000 for another guitar – $250 deductible = $750 total.
Without insurance, you pay $1,000 to replace your instrument. With it, you pay $250. That’s $750 less with insurance.
If you factor in the annual cost of your band and instrument insurance overall, it would look like this: $289 + $250 = $539. This $539 is still significantly less than $1,000. Plus, you’ll have coverage for accidental damage and injury to others, not just your instruments!
Commonly Asked Questions About Musical Instrument Insurance
Does My Homeowners or Renters Insurance Cover My Band Equipment?
Typically, no. According to JoAnne Hammer, Certified Insurance Counselor and Program Manager at Insurance Canopy, homeowners and renters insurance do not usually cover items you use for business.
As a musician, band member, or band leader, your instruments and other musical gear may be considered “business property” by your regular home or renters insurance. If they do cover your equipment, it may be for a limited amount or only while those items are at or in your residence.
Learn more in our Musician’s Insurance webinar, with information about equipment coverage and homeowners insurance starting at the 23-minute mark.
How Much Does Instrument Insurance Cost?
With Insurance Canopy, the instruments and musical equipment add-on coverage costs $7.50/month for $2,000 in coverage or $15/month for $5,000 in coverage. That’s just $90 or $180 per year.
How Is the Value of My Equipment Determined?
Insurance Canopy’s musicians gear insurance determines the value of your equipment as the lowest of the following amounts:
- The actual cash value of the equipment
- The cost to restore your property to its condition before the damage occurred
- The cost to replace your equipment with similar or like, kind, and quality equipment
