If you're a student, instrument insurance is a valuable investment, because, being a student, you might not be able to afford to replace your musical instrument if it was lost, stolen or damaged. If you use your instrument to earn money, it is especially valuable to you, and insurance could save you money in the long run. Cover from Musicguard - a specialist insurance company - provides a comprehensive policy, which includes:
- Up to £250,000 cover against loss, theft or accidental damage
- New for old replacement
- Personal accident cover up to £10,000
- Public liability of £1million as standard or upgrade to £2million or £5million
- Choose the area where your instrument needs to be insured; UK, EU, 30 days worldwide or full worldwide cover
- Hire instrument while you wait for yours to be repaired or replaced
You can also lower the premiums of your student instrument insurance by paying an excess on claims; the standard Musicguard policy has no excess, but you can choose to pay it in order to make your insurance cheaper.
Musicguard also offers optional extras such as 'in vehicle' cover for when you're on the road, and breakdown protection to cover repairs. Contents insurance doesn't always cover musical instruments, especially if they are taken out of the home, so a separate policy is often required. You also get a price promise which means that if you find the same cover for less within 28 says, Musicguard will refund you double the difference.