Touring season is already in full force for the 2016 season as bands travel like troubadours all over the world playing their music to the masses. The huge festivals are ready to begin and won’t stop until well past the end of summer. From the big boys/girls traveling in decked-out Prevost buses to the kids in their 1999 Chevy Cargo vans, they all have one thing in common regardless of status: all are transporting their precious instruments and gear from gig to gig.
Let’s face it…shit happens. Stuff gets lost, broken, forgotten, damaged by forces of nature or the ultimate “burn in hell” act against a musician: stolen. I’m hearing more and more reports of stolen gear from musicians in cities around the US. Posts and pleas for help to “keep a lookout for …..” on Facebook and other social media have become an almost weekly occurrence. It breaks my heart to know that a band/artist has lost their gear and are now online asking for donations to just get home because their tour is cancelled. It doesn’t have to be that way!
Trust me, I know enough musician’s to know that when your “baby” is stolen you JUST WANT IT BACK! I 
understand that – truly I do. But what is worse, having your prized, favorite guitar stolen and it’s just gone, or at least having the money to go buy another guitar like it? No, it won’t be the same…I know. But it’s better than nothing and other things happens besides getting ripped off. So yet again, I am writing about the necessity to protect your gear with insurance. Please pay attention.
Most musicians (solely or collectively as a band) operate under the assumption that their gear/business equipment is covered under their homeowner’s or automobile insurance policies. Even if those policies did cover some portion of your musical equipment, chances are extremely high that it would not be enough to compensate the total loss. There are always limits on property insurance (home & automobile) and unless you have a “rider” over those limits (which cost a buttload of money), you will only get the limit amount. Have you read your automobile policy lately? Standard “personal property” coverage is $500. On a homeowner’s policy, musical equipment/instruments is usually $250. Unless you have chosen to raise the limits and/or get the additional “rider” – you’re going to be shit out of luck.
For example: Your band’s gear gets stolen out of the van or you run over it (don’t recommend that). Total loss: $18k. So you call 
your auto insurance company only to find out that there is a $500 “personal property” limit on your policy. So…now your gear is gone and you’re $17,500 short on replacing the stolen items. Goodbye tour, goodbye gigs, goodbye future income, goodbye music dreams – at least until you can save up the money to replace your stuff. So unnecessary!
There is a huge difference between personal and commercial policies, which are too costly for the average band. After I spent weeks investigating what insurance options were out there for musicians to cover their precious instruments and gear, what I found was that most personal lines insurance companies don’t offer a separate policy for musical instruments. If they do, you would almost have to take out a bank loan to afford the annual premiums.
After talking to dozens of agents and insurance company representatives, I finally found what I was looking for at Music Pro Insurance (MPI). MPI was started by David Sterling (Sterling & Sterling Insurance) who has worked providing insurance to members of NARAS and ASCAP since 1999. He saw the need for a product that was available to all musicians, and the creation of MPI began in 2003. They cover some of the largest touring bands on the planet, are an A-Rated company with a solid reputation.
I was most interested in the actual coverage, costs and exclusions. In other words, I read every word of the “fine print” of their products, and had the following basic questions that I would want to know if I were you.
THE LOWDOWN:
- Who is eligible for coverage with MPI? Do you have to be a member of a Music Industry group to join? Everyone is eligible and no, you do not have to be professionally affiliated with a music industry group.
- Is it a pain in the ass to apply? How long does it take for the insurance to kick in? Is it based on credit because if so – I should stop reading now. The enrollment application is online at their website. It usually takes 48 hours for approval. MPI does not base approval upon credit, and do not run credit checks. Further, it covers the cost to rent musical equipment or gear until your claim is processed and you’ve replaced your stuff. So, the show will go on!
- How much does it cost? The cost is $112 per $10,000 of coverage (annually it’s $224 for $20k of coverage – you get the idea…there is a calculator on the website). All policies run from June 20th through June 20th of each year. So, if someone were to sign up today, they would prorate the premium. There is a $100 minimum premium per year.
- So using the $10,000 coverage as example, what does that cover? When you apply, you will be asked to list out
everything you want to be covered up to the limit (in this case $10k). MPI will replace like items with like items in case of a claim. The only thing that is an exception to this rule are individual items over $25,000. Items over $25k in value require an appraisal, as well as vintage items. You can’t replace a vintage guitar with a new one.
everything you want to be covered up to the limit (in this case $10k). MPI will replace like items with like items in case of a claim. The only thing that is an exception to this rule are individual items over $25,000. Items over $25k in value require an appraisal, as well as vintage items. You can’t replace a vintage guitar with a new one.- Are there any other benefits included with the $10,000 coverage? Yes. On top of the $10k in musical instruments/equipment coverage, at no extra charge, they cover $5000 in EDP (Electronic Data Processing). This includes computers, hardware, software, etc.. So, if a laptop were stolen that was loaded up with vital programs, such as Pro Tools – MPI will cover it up to $5000. Higher limits are available for a small additional premium.
- Also included at no extra charge is $5000 of coverage for valuable papers (passports, identification, laminates, business cards). Passports alone can be a fortune to replace. Think about it people – music is a transient world. If you were in a foreign country and needed expedited passports for a four member band – that’s THOUSANDS OF DOLLARS right there.
- Where is my stuff covered under the “Instrument & Equipment” policy – like everywhere? It covers about everything that the name implies…all musical instruments and the equipment necessary to operate them. This coverage is worldwide. So, if a band is touring (or traveling) anywhere in the world, they are covered. On the road, in a plane, on a train…if something happens to your gear, it’s covered. This includes acts of nature. Floods, earthquake, hurricane…whatever. It’s covered. Theft, damage (excluding normal wear & tear), fire…just about any possible scenario is included. Now, if someone decides to pull a “Pete Townsend” and smash their guitar…well, they obviously won’t cover that!
What is the deductible if something happens & is this where “they get you” by having to pay a separate deductible for each item lost, stolen, damaged, etc.? There is a $100 deductible per loss/claim, not per item, and that’s a very important feature to MPI’s policy. Most other companies charge a per item deductible. For example, if everything that a band owned was stolen out of their van, then it is just the $100 deductible for that loss/claim (excluding personal items and of course depending on the coverage amount on the policy).
What is the deductible if something happens & is this where “they get you” by having to pay a separate deductible for each item lost, stolen, damaged, etc.? There is a $100 deductible per loss/claim, not per item, and that’s a very important feature to MPI’s policy. Most other companies charge a per item deductible. For example, if everything that a band owned was stolen out of their van, then it is just the $100 deductible for that loss/claim (excluding personal items and of course depending on the coverage amount on the policy).- Are cellphones or PDA’s covered? No. They also don’t cover ipods (or equivalent) or gaming equipment/games either. Since those are the most forgotten and stolen items out of dressing rooms or tour buses, watch your small stuff too and don’t smash the game controllers when pissed off!
- This sounds too good to be true. It is true. However, this is your decision to make and to take the time to
check out this coverage yourself. Call and ask questions. They are very helpful and the real people who answer the phone are used to talking to musicians and understand the music business. No excuses.
check out this coverage yourself. Call and ask questions. They are very helpful and the real people who answer the phone are used to talking to musicians and understand the music business. No excuses. I’m going to say this for the record: If you managed to accumulate/buy $25,000 worth of gear/instruments, then use the same skills to scrape together the $220 a year to cover it. Sell an old amp or two that you no longer use, don’t buy that new guitar – whatever you have to do, don’t buy one more thing until you’ve protected what you already have.
RockRevolt™Magazine, has no affiliation with, nor are we blindly endorsing Music Pro Insurance, it’s coverage, customer service or claims process. We are simply relaying some very viable information to you after a lot of phone calls and research. It is up to you to do your own research, ask your own questions, do some comparison shopping and make your own decision. Here’s to happy, safe gigs to all of you!
Here’s a great article on the Last Minute Musician that covers UK bands as well.
~ Valerie King – Editor in Chief
