Piano Tuners Insurance Montana Policy Information
Piano Tuners Insurance Montana. As a piano tuner, your job is to ensure that your clients' instruments sound their very best by making adjustments to their pianos. The job requires a keen ear, careful attention to detail, and a great deal of care.
While you always do your very best to ensure the you deliver outstanding results, you never know when something could go wrong. A minor mistake could cause major damage to a client's piano, which could end up costing them - and you - serious financial losses.
Additionally, you also face many of the same risks as business owners in all industries; third-party liability claims and commercial property damage, for example.
Piano tuners repair and tune pianos or organs at customers' premises. The customers may be individuals or institutions such as schools or churches.
Tuning involves adjusting the tensions between the strings on the piano, which may have stretched or compressed due to temperature and humidity. Other repairs offered generally include recovering damaged keys, replacing tuning pins, minor adjustments to the hammers and pedals, and perhaps replacing strings made of steel or bronze wire.
Piano tuners do not generally handle refinishing of the wooden casing because this is a carpenter's task. Related exposures may include moving pianos from one location to another. Equipment is minimal, traditionally consisting of one or more tuning forks and a specialized socket wrench to adjust the tension of the strings.
Today, electronic tuners are the norm. Supplies include key tops of pre-cut plastic (traditionally ivory), felt for the hammers, and glue.
In order to protect your piano tuner business from possible legal problems and financial losses, having the right type of piano tuners insurance Montana coverage in place is imperative. What type of coverage do you need? Read on to find out more about insurance for piano tuners.
Piano tuners insurance Montana protects your tuning business with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Why Do Piano Tuners Need Insurance?
What would happen if you were to accidentally damage a customer's piano while you were tuning it? In addition to having to pay for any damages, you could also face legal action.
Or what if the property where you operate your business were to be damaged in a fire, a storm, or by a vandal? You'll be responsible for making the repairs to the property as well as replacing anything that can't be fixed.
The costs that are associated with repairs, legal proceedings, and anything else that you are responsible for can be exorbitant. Having to pay for such expenses out of your own pocket could be financially devastating; however, if you are properly insured, if something goes wrong, instead of paying for those expenses yourself, your carrier will cover the costs for you. In other words, insurance prevents you from serious financial losses.
In addition to the financial protection that insurance provides, being properly covered also ensures that your MT piano tuning business is compliant with the law. Depending on where your business is located, you'll need to have certain types of piano tuners insurance Montana coverage in place. If you don't, you could end up facing serious fines and you may possibly lose your business.
What Type Of Insurance Coverage Do Piano Tuners Need?
There are several types of insurance coverage that MT piano tuners should have in place. The specific types of policies that you'll need to carry depend on the specifics of your operation; for example, where your business is located, the size of your business, and whether or not you employ a staff.
Be that as it may, there are some key types of coverage that all piano tuners should carry, including:
- Commercial Property - This policy protects your piano tuning business from any acts of nature, vandalism, or theft that may occur. For instance, if someone were to break into your business, damage your building, and steal anything on-site, commercial property insurance will help to pay for any necessary repairs, as well as the cost of replacing anything that can't be recovered.
- Commercial General Liability - To protect yourself from third-party property damage and physical injury liability claims, you'll need commercial general liability insurance. If a vendor were to trip over an instrument or tool while making a delivery to your business, for example, this policy would help to pay for any legal expenses that you may face should the client file a lawsuit against you, as well as any expenses that you are found liable for.
- Commercial Auto - If you use any vehicles for business-related purposes, you'll need to carry an MT commercial auto policy, too. For instance, if you are involved in an accident while driving to a client's location, this coverage will pay for any repairs to a third-parties property.
- Workers' Compensation - Do you employ a staff? If so, you are responsible for providing them with a safe workspace. If an employee were to suffer a work-related injury, you are liable for any medical care that they may need. Workers comp insurance would cover those expenses, as well as compensate an employee if they are unable to work while they are recovering from those injuries.
These are just a few examples of the types of piano tuners insurance Montana coverage that should be considered.
Montana Piano Tuners' Risks & Exposures
Premises liability exposures at the tuner's premises are limited due to lack of public access. Off-premises exposures are moderate as tuning is done on customer's premises. If piano moving is done, property damage losses can occur to the piano and to the premises during packing and transport.
If the piano tuner goes to private homes, there may be personal injury claims alleging invasion of privacy.
Workers compensation exposure is generally light. Piano strings or wires may snap during tuning, resulting in minor cuts, bruises, or eye injuries. If pianos or organs are transported, there may be back injuries from lifting. Drivers can be injured in automobile accidents.
Property exposures at the tuner's location are usually very light and consist of office or storage of tools and supplies. Ignition sources are limited to electrical wiring and heating and air conditioning systems.
Crime exposures include employee dishonesty and money and securities. Employees may steal customers' belongings. Hazards increase without proper background checks. Because the collection is often at the time of service, there should be procedures for matching money collected with receipts provided to customers. Deposits should be made promptly.
Inland marine exposure is normally limited to a tool floater for the tuner's tools and supplies. Bailees' customers' coverage is needed due to the potential for damage to the customer's piano or organ. This risk is generally light unless the instrument is an antique or of high value, as in the case of church organs or the tuner transports pianos or organs.
The primary causes of loss during transport are fire, water, theft, collision or overturn. There may be accounts receivable if the tuner offers credit, computers, or valuable papers and records for customers' and suppliers' information.
Business auto exposure is generally light. If pianos or organs are transported, they must be properly secured to prevent shifting or falling from the vehicle. All drivers must have a valid driver's license and acceptable MVR.
Vehicles must be regularly maintained and records kept at a central location. If vehicles are taken home, there should be written procedures regarding personal use by employees and their family members.
Piano Tuners Insurance Montana - The Bottom Line
For more information about the type of coverage to consider, as well as how much piano tuners insurance Montana coverage you'll need, speak with an broker that specializes in commercial insurance.
Montana Economic Data, Regulations And Limits On Commercial Insurance
Thinking about starting a new business? Already own a successful business and want to expand your operations? Whatever the case may be, if you want to experience as much success as possible, you are going to want to ensure you choose the best possible location for your specific industry.
No matter how outstanding your goods and services may be, if the area where your business is located doesn't offer a healthy climate that will support your company, chances are you'll struggle to succeed.
If you are thinking about opening up a business in Montana, being familiar with the state's economic trends can help you determine if it's a good location for you. It's also wise to know what type of insurance you'll need to invest in so that you can plan ahead.
With that said, below, we provide an overview of the economic trends in the state of Montana, as well as the commercial insurance requirements for business owners in the Treasure State.
Economic Trends For Business Owners In Montana
As of December, 2019, the Bureau of Labor Statistics reported that the unemployment rate in the state of Montana was 3.4%; that's 0.1% lower than the national average, which was 3.5% at the same time. This rate remained steady throughout the entire 2019 fiscal year, and it is expected to either continue remaining steady or improve in coming years, according to economists.
Unemployment rate is a vital statistic for business owners, as it indicates the job market of a location, which is a strong determining factor in the success of businesses in the region.
There are several areas throughout the state of Montana that are seeing economic booms and where businesses are flourishing. Among those locations include the following cities and the areas that surround them:
- Great Falls
Several industries are seeing substantial growth in MT; however, there are particular sectors that are really thriving in Montana. Among those sectors include:
- Advanced manufacturing
- Hospitality and tourism
- Information technology
- Oil and gas production
- Retail development
If you are considering opening a business in any of the above-mentioned areas, your chances of success in Montana are favorable.
Commercial Insurance Requirements In Montana
The Office of the Montana State Auditor, Commissioner of Securities and Insurance regulates insurance in MT. Montana mandates very few forms of insurance coverage by law. They enforce worker's compensation.
Montana requires you to have worker's compensation insurance if you hire even one employee on a regular basis. This includes part-time employees, family members, minors, and immigrant employees. It is not required for independent contractors or domestic employees, though you should check to make sure any contractors you have are true contractors, and not employees.
Montana also requires all business-owned vehicles to be covered by commercial auto insurance. Other types of business insurance that business owners should carry depend on the specific industry.
Additional Resources For Professional Services Insurance
Get informed about small business professional services insurance, including Professional liability, aka errors and omissions (E&O insurance), that protects your business against claims that a professional service you provided caused your client financial loss.
- Answering Service
- Armored Car
- Attorney Lawyer
- Background Music Services
- Business Consulting
- Chemical Engineers
- Civil Engineers
- Claims Adjuster
- Commercial Laundries
- Commodity Broker
- Corporate Wellness
- Court Reporter
- Credit Bureaus
- Debt Collection Agency
- Detective Agency
- Diaper Services
- Electrical Engineering
- Environmental Consultant
- Executive, Career & Life Coaching
- Executive Search Firm
- Expert Witness
- Financial Planner
- Financial Services
- Funeral Directors
- HR Consultant
- Inspection Bureaus
- Insurance Agents & Brokers Insurance
- Mediator - Arbitrator
- Medical Billing
- Music, Drama & Dance Therapy
- Office Machine Repair & Maintenance
- Piano Tuners
- Project Management
- Safety Consultants
- Speakers Bureaus
- Temporary Staffing
- Tax Preparer
- Title Abstractors
- Valet Parking
Let's face reality. People today are claims conscious, resulting in a significant share of malpractice lawsuits against professionals.
Liability resulting from the rendering of or the failure to render professional services is excluded in most liability coverage forms. This means that a policy covering a account's or lawyers' office will cover liability arising out of the maintenance or use of the premises, but specifically exclude liability arising out of the rendering of a professional service or the omission of such a service.
In addition to the professions in which actual physical or mental injury may be caused to clients, certain other professions are exposed to claims for malpractice.
Claims may be brought against lawyers, accountants, architects, and similar professional persons for errors or omissions in their professional capacity. Errors & Omissions insurance pays damages that might be awarded to a plaintiff alleging professional negligence.
Professional liability policies are made available to such risks, and these policies provide essentially the same protection as is afforded under the physicians, surgeons or dentists professional liability policy.
Minimum recommended small business insurance coverage: Business Personal Property, Employee Dishonesty, Accounts Receivable, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Professional Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Business Income with Extra Expense, Earthquake, Equipment Breakdown, Flood, Computer Fraud, Forgery, Money and Securities, Special Floater, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.
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Also find MT local small businesses by General Liability Class Code and learn about Montana small business insurance requirements for general liability, business property, commercial auto & workers compensation including MT business insurance costs. Call us (406) 637-8400.