Are You Protected? A Look at Specialized Insurance for Musicians

November 1, 2024

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As you may have read by now, the AFM and HUB International have partnered to offer a wide range of insurance products for AFM members and locals. For working musicians, insurance can be a lifeline—providing critical protection against various risks that musicians face. Whether you freelance full-time or perform regularly with a larger ensemble, business insurance tailored to the unique needs of musicians can save you from potential financial disaster. From safeguarding equipment to mitigating legal risks, insurance products offer peace of mind that enables musicians to focus on their craft, rather than worry about unexpected setbacks.

One of the most significant challenges musicians face is the potential for damage or loss of their valuable instruments and equipment. Equipment insurance is designed to protect against theft, fire, accidents, and vandalism. This type of policy ensures that, whether you’re on the road, performing at a venue, or storing your gear off-site, your investment is protected. For professional musicians whose livelihoods depend on their instruments, this coverage is indispensable.

In addition to protecting physical equipment, musicians often need general liability insurance, especially when performing at venues. This policy covers bodily injury or property damage claims, which could arise from incidents at live performances or studio sessions. With a general liability policy in place, musicians can avoid the financial burden of legal fees or compensation claims that might otherwise arise from accidents.

For those who own or rent a space, a business owner’s policy (BOP) is a comprehensive and cost-effective solution. It bundles property and general liability coverage, protecting both the physical space and the people who use it. Musicians can often add equipment coverage to a BOP, making it a versatile option that addresses multiple areas of risk, in one package.

One area often overlooked by musicians is the risk of legal action for issues like copyright infringement or breach of contract. Errors and omissions (E&O) insurance, sometimes called professional liability insurance, helps protect AFM members from these types of lawsuits. For instance, if a musician is accused of missing a deadline or not delivering on a contractual obligation, E&O insurance may cover the resulting legal expenses.

As many musicians and AFM locals now conduct business online—selling music, booking gigs, and handling payments—cyber insurance has become increasingly important. This type of policy protects against the costs of cyberattacks, data breaches, and related legal actions. For musicians who handle sensitive personal information or financial transactions, cyber insurance can safeguard against the potentially devastating impact of a security breach.

Commercial auto insurance may be necessary for those who use vehicles to transport equipment or travel to performances. Policies cover the costs associated with vehicle accidents, protecting musicians from liability and ensuring they can continue their work without significant disruptions.

In addition to the business products listed above, VIU by HUB offers an enhanced range of personal insurance products, including personal auto, homeowner’s/renter’s, pet, identity theft, individual or group medical/dental/disability, long-term care, travel accident, and more.

The right insurance products provide a financial safety net that allows musicians to pursue their careers with confidence. From equipment protection to legal liability coverage, these policies address the unique risks musicians face, making them an invaluable resource for AFM members. By investing in appropriate insurance coverage, musicians can focus on what they do best—creating and performing music—without the fear of unexpected financial setbacks.

For more information about these and other policies, visit: members.afm.org/member/page/id/16473

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