What Is The Best Musical Instrument Insurance?

James Rodriguez James Rodriguez updated on July 24, 2020

Musical instruments are very personal and special to the owners. Haven it stolen is a great loss, however, insurance against that type of theft at least gives the owner another chance to replace the stolen item.

In this guide, we will explain all you have to know about musical instruments insurance, whether you can have it included in your home contents insurance or get a standalone policy, what it included, how much you might need to pay etc.

Let’s dive in!

What is musical instruments cover?

Finely crafted musical instruments can be very expensive items, especially in cases where they might have been tailor made for the client. However, just as classic cars and high-end jewelry can be insured, so can musical instruments.

By getting an insurance policy, owners can insure their musical instruments against theft or damage.

Does home insurance cover musical instruments?

With musical instruments, there are two types of insurance that can be gotten:

  • Insurance for musical instruments under home insurance which can only be provided with single item limit cover. The insurer will have to be informed of the musical instrument value, but sometimes the limit will not be enough to have full protection. Some providers won’t insure musical instrument if you are musical professional.
  • A standalone policy who will cover instruments to the full values of it, this is provided by musical instrument specialist insurance companies.

What does musical instrument under home insurance cover?

Musical instrument insurance cover theft of your musical instrument at your home. Some home insurance providers won’t insure musical instruments, some will.

You will be covered for damage, theft, loss.You must chek the single item limit, and declare your value instrument to your home insurer. If you have personal possession, you can be insured out of home.

Specialist insurance will propose a more comprehensive coverage, you instrument will be cover for:

  • Accidental damage, theft, loss
  • Public Liability
  • Personal accident
  • Worldwide cover.

How does home insurance for musical instruments work?

Usually you are covered for loss, theft and damages that happened to your musical instrument. Your home insurance for your musical instrument works like any insurance products, you have to pay an excess if you are claiming.

What are the best home insurance to cover musical instruments?

You will find in this table the best musical instruments cover, we also indicated cover limits.

Limit on single item
logo tescobank home 1£30,000
logo aviva 1£20,000
legalgeneral logo£10,000
logo axa home£10,000
logo ms bank 1£10,000
halifax logo 1£3,000
logo lloydsbank home 1£3,000
Best musical instruments cover providers

What are the worst home contents insurance to cover musical instruments?

You will find in this table the worst musical instruments cover, we also indicated cover limits.

InsuranceLimit on single item
logo esure home 1£1,500
logo rias 2£1,500
logo hastings home 1£1,500
logo sheilas wheels 2£1,500
logo aa home£1,500
logo admiral home 1£1,000
logo more than£999
Worst musical instruments cover providers

What should I pay attention to while purchasing home insurance with musical instruments cover?

When taking out home insurance with musical instruments cover, you must pay attention to:

  • The value of the instrument
  • The claim limit (is it enough to cover your instrument)
  • You must have declared the instrument and its value to your home insurer.

How much does contents insurance with musical instruments cover usually cost?

Contents home insurance usually covers musical instruments. The average cost of combined buildings and contents insurance in 2018 was £163, with contents insurance usually counting for a third of the premium (around £60) and building insurance for the rest (around £110).

Adding "personal possessions cover" to your insurance policy will cost you around £50 per year and will allow you to be covered if your musical instrument has been stolen, damaged or misplaced away from home. Many home insurance companies include personal possession in their content policies.

What is excluded from contents insurance with musical instrument cover?

For home contents insurance including musical instruments insurance, cover will not be provided in the case of the following:

  • Damage resulting from wear and tear
  • Any damage to your musical instrument accessories such as audio visual equipment, CD’s, tapes and records
  • Unexplained loss.

Should I take out a specialist provider of instrument insurance?

You can decide to insure your instrument with a specialist. Here are a few cases where it could be good idea:

  • you are a professional musician and you make a living out of performing. In this case the loss or theft of your instrument can have significant repercussion on your earnings. Musical instrument insurance can cover the ‘New-For-Old’ replacement of your equipment as well as any loss of earnings involved;
  • you often fly overseas with your instrument or equipment. The more you move, the more your instrument can be damaged or stolen. If you often travel for tours, concerts etc., then purchasing a dedicated insurance is a necessity;
  • you are the happy owner of high-value instrument(s) / equipment. As long as you can not afford replacing your equipment with your own money if anything happens, then taking an insurance is definitely a good idea.

Check out our guide about music insurance.