I know many musicians, so here’s to my fellow strummers and drummers…
A musician myself, I was curious about how my guitars and musical-related gear are covered under my homeowners insurance policy. While I don’t have anything very valuable, I know that some insurance carriers have sub-limits on certain items, including musical instruments and related equipment.
The case is this: If your primary income source is from playing music or recording music, then your instruments coverage will be limited to $1500 or $2500. So, if you are a gigging musician with a Gibson Les Paul that’s worth $6,000, you lose it in a fire, the insurance company may only give you part of the value.
If you have some instruments and playing/recording music is NOT your primary source of income, then the sky is the limit.
Either way – if you have never thought of this before, you should review your coverage immediately. It doesn’t matter if you own a house, townhouse or condo, or rent an apartment, the coverage will be the same. Feel free to contact me if you have any questions, I’m always here to help!