Musicians are usually some of the most care-free, self-sufficient people, and often do not consider insurance when developing their art. However, it is very important to carry musicians insurance in order to fully protect every aspect of your livelihood and continue to perform for years to come. General liability, instrument, and health insurance are all imperative forms of coverage that will completely protect you in the event of an accident.
General liability insurance, also known as event insurance, for the most part, provides general coverage for public property, damage to third parties, and protecting the property of performing venues as a result of the use of your instrument. Should the performer damage a floor while setting up a piano or drop a stool and break the leg off this type of policy will cover the damage. For the most part, this type of coverage is usually offered at extremely competitive prices and should not set the performer back too much each year. In many cases, venues will require musicians to carry general liability insurance and will not book your services without showing proof of coverage.
Instrument insurance plans are one of the most important plans any musician will purchase. Generally speaking, instrument insurance covers the instrument itself and protects against unintentional damage and mishaps. Should something happen before, during, or after a performance to damage the instrument, this type of policy will fully protect the most crucial piece of equipment required to perform – the instrument. These policies usually cover loss or damage to the instrument itself, as well as various accessories such as sheet music, case, music stands, and amplifiers.
One type of coverage that is almost certainly the type that we never hope is needed is health insurance. Unfortunately, there aren’t many plans for musicians that are available specifically for them. The few that are available aren’t advertised to the extent that musicians know about them or have higher income requirements than many musicians can not meet in order to qualify for the plan. This is a real problem for most performers and one that forces many to obtain individual plans from an HMO or other national insurance network. It’s important for musicians to have such insurance since playing a musical instrument requires the use of the hands and body. Should performers become ill or unable to use their hands, and ultimately unable to produce an income, being covered for medical expenses is vital.
Insurance, for many people, is a requirement when being hired for a new job or moving from one career path to another. However, those that are self employed or do not work for the traditional, large corporation, must take extra steps to research and find the best options. Musicians, in particular, must understand that general liability insurance, musical instrument insurance, and health insurance are of particular importance and should not be taken lightly. Finding adequate coverage is vital to the overall business side of being a professional performer and crucial to maintaining peace of mind.