As a DJ, you have invested thousands of dollars in your equipment. From your turntables and mixers, to headphones, a computer, and more, being a DJ is not cheap. Because your equipment is what makes your job possible, you want to take the best care of it so it can last for many years to come.
Inland marine insurance, also known as tools and equipment coverage, is designed to protect your DJ equipment in the event of an accident or theft. At Insurance Canopy, we provide DJ insurance, both event and annual, but we also provide Tools & Equipment Coverage (which can be added to any annual DJ insurance policy), so you can insure your DJ equipment. Today we’ll share with you how to insure your DJ equipment, how much it costs, and how it can save you thousands of dollars.
Why Tools & Equipment Coverage?
If you don’t think you need Tools & Equipment Coverage, you may not understand the importance of it. You can do a number of things to try and protect your equipment, but accidents can still happen. A guest at an event you’re DJing could trip on your speaker cords and damage them. They could also accidentally spill their drink on your turntable.
Your equipment may also get damaged while in transit to an event, or stolen when not in your view. Whatever the case, when those accidents happen, you’ll be grateful for Tools & Equipment Coverage to protect your equipment.
How to Add it To Your Policy
At Insurance Canopy, you are able to add Tools & Equipment Coverage to an annual DJ policy, but not an event DJ policy. If you would like to add this coverage to your annual policy, you can do so while filling out an online application. The application is simple and will only take 10 minutes to complete. If you wish to add Tools & Equipment Coverage at a later date, you can simply log on to your dashboard and add it when desired, again only eligible for annual policies.
Tools & Equipment Coverage is added on to a general and professional liability base policy. An annual DJ general liability policy costs $192 annually, or you can pay in monthly increments of $16 per month. In order to purchase insurance for your equipment, it will need to be added to a general liability base policy.
How Much Will DJ Equipment Insurance Cost Me?
You will have the option to add this coverage to your base policy for an additional $3.33 or $5 per month. The cost will depend on how much coverage you would like for each item. The first option covers each item for up to $2,000 with a policy payout limit of $4,000 for all equipment claims. It is an additional $40 per year to add equipment coverage, which breaks down to be just $3.33 a month.
The second option offers higher coverage limits for those with more expensive equipment, starting at $5,000 coverage per item and a policy payout limit of $10,000 for all equipment claims. This option is an additional $60 per year, or $5 a month.
This is a very small price to pay to have the coverage you need to protect the equipment you have spent thousands of dollars on.
Get Insured Today
Once you have finished filling out an application, one of our licensed insurance agents will be reaching out to you within 2–4 days. You receive immediate coverage that will be active for one year. Contact our insurance agents with any questions you may have. We hope this article is helpful in understanding how to insure your DJ equipment and we wish you the best of luck with your DJ career!