Musical Instruments Manufacturers Insurance

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Musical Instruments Manufacturers Insurance Policy Information

Musical Instruments Manufacturers Insurance

Musical Instruments Manufacturers Insurance. Companies that make musical instruments quite literally help bring music to the world - and as such, they play an important rule in culture, education, and recreation.

Musical instruments manufacturers produce a variety of products including brass, woodwinds, strings, percussion, organs, and piano. Some include sophisticated electronic equipment and may be programmable.

Manufacturers of portable instruments commonly produce specialty carrying cases made of wood, plastic, fiberglass, leather, or textiles. Manufacturing combines several processes, including electronics, metalworking, plastic molding, textile work, and woodworking.

Some manufacturers may subcontract the separate operations and simply perform the final assembly.

Within this diverse market, materials as varied as brass, wood, animal hides, bone, and plastics are used to make instruments ranging from trumpets and cellos to flutes and cymbals. Each instrument is manufactured differently, and may be crafted by hand or mass produced in large factories, depending on the intended consumers.

If you own and operate a business that manufactures or crafts musical instruments, you will, of course, strive to be successful in helping others create music. Like all other businesses, however, yours may come face to face with numerous perils that could endanger current and future earnings.

This is why it is essential to invest in musical instruments manufacturers insurance coverage that can help you recover from any loss. To discover what that may entail, keep reading.

Musical instruments manufacturers insurance protects your manufacturing business from lawsuits with rates as low as $57/mo. Get a fast quote and your certificate of insurance now.

Below are some answers to commonly asked Musical Instruments manufacturing insurance questions:


How Much Does Musical Instruments Manufacturers Insurance Cost?

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small Musical Instruments manufacturing businesses ranges from $57 to $79 per month based on location, size, revenue, claims history and more.


Why Do Musical Instruments Manufacturers Need Insurance?

Insurance For Manufacturers

Companies that make musical instruments need to carry adequate insurance for the simple reason that accidents and other unforeseen circumstances cannot always be prevented, no matter how hard you try.

In the event that your business falls victim to one of the many risks common to all commercial ventures, or one more specific to your industry, the right insurance will help you recover from the associated costs.

All companies are, for instance, vulnerable to acts of nature. An earthquake, wildfire, serious flood, or hurricane can undo much of your hard work almost overnight - not only can your manufacturing facility be severely damaged, all your other physical assets can, too.

Theft and vandalism are other common risks. Although you can invest in security systems, these perils can never be completely prevented.

You will also want to consider the possibility that an employee could become injured in the workplace, leaving you with the resulting costs unless you are properly insured. Should someone who does not work for you sustain an accident on your premises, you may be held liable as well.

Obtaining the insurance coverage your company needs to protect it from all major perils may be a challenging process to navigate, but armed with musical instruments manufacturers insurance coverage, you will have the peace of mind you need to focus on taking your company to the next level.


What Type Of Insurance Do Musical Instruments Manufacturers Need?

Companies that manufacture or craft musical instruments will require several different types of insurance to shield them from the risks they face.

The location and size of your manufacturing facility, the types of raw materials you work with, the value of your manufacturing equipment or tools, and your number of employees all play a role in determining your exact musical instruments manufacturers insurance needs.

While a commercial insurance agent is best placed to guide you through the process step by step, companies making musical instruments will strongly want to consider:

  • Commercial Property: Like other companies with physical assets, your facility and everything inside it may be hit by disastrous events like burglary or fire. Even the bursting of a pipe has the potential to cause serious damage. Commercial property insurance protects your company from financial losses resulting from many kinds of damage to your physical property.
  • Commercial General Liability: This broad kind of musical instruments manufacturers insurance coverage is designed to shield you from the legal and settlement costs that can follow if someone sues your business alleging that you caused bodily injury or property damage.
  • Product Liability: Because not all liability-associated costs fall under a general liability policy, you may also want to consider product liability insurance. This type of coverage protects you in the event that a musical instrument you produced causes injury or property damage to someone else.
  • Workers' Compensation: Another essential type of insurance, workers' compensation insurance protects you from litigation as it covers the medical bills and any lost wages of employees who become injured in the workplace.


While these types of musical instruments manufacturers insurance are among the most important, companies in this industry may have some additional needs - including commercial auto insurance - as well.

Because your insurance needs are as unique as your business, it is vital to consult a commercial insurance agent to help you evaluate how to best protect your company.

Musical Instruments Manufacturing's Risks & Exposures

Manufacturing

Premises liability exposures are normally low as access by visitors is limited. If the manufacturer has a showroom, customizes instruments, or offers demonstrations, visitors may be injured by slips, trips, or falls.

Fumes, dust, and noise from woodwork or metalwork could pose a nuisance hazard to neighbors. Off-premises exposures may include installation of large custom-made instruments such as organs.

Products liability exposure is generally low. For electronic instruments, customers may be injured by shocks unless there are warnings emphasizing the need for grounding and that the instrument should not be played when it is wet.

Instruments designed for young children require a higher degree of quality control due to the potential for misuse. All government safety standards must be met.

Environmental impairment exposure can be light to high, depending on the materials and processes used and the types of waste that are produced. For brass, the raw materials may be toxic. Plastics and fiberglass may be toxic and are flammable, the catalysts may be caustic, and the final product is usually not biodegradable.

Contaminants from the chemicals, paints, and solvents used in metalworking and woodworking processes can pollute the air, surface or ground water, or soil. Disposal procedures must adhere to all EPA and other regulatory standards.

Workers compensation exposures can be very high. Injuries from production machinery are common, as are burns, cuts, puncture wounds, slips, trips, falls, and foreign objects in the eye, hearing impairment from noise, repetitive motion injuries, and back injuries from lifting. Workstations should be ergonomically designed.

There should be safety training, protective equipment, and guarding of machines. Areas that generate dust from metal or woodwork, or use spray-painting, require respiratory protection devices, eye protection, and eye wash stations.

Flammable liquids and chemicals can cause skin irritation, eye irritation, and possible long-term occupational disease. Workers must be made aware of the potential side effects of the ingredients they work with, including long-term occupational disease hazards, so they can recognize symptoms and obtain treatment as early as possible.

Sales representatives carrying precious gems or metals may be injured or killed in holdups.

Property exposures consist of an office, plant or shop, and warehouse for raw materials and finished goods. Ignition sources can include electrical wiring, heating and cooling equipment, production machinery, and dust explosions. Hazards depend on the type of instruments manufactured.

Production of brass instruments includes metalworking hazards, exposure to metal dust, flammable liquids needed for polishing, and lacquer for finishing.

Woodwinds, stringed instruments, and pianos will have woodcutting, boring, sanding, and staining or varnishing exposures. Finishing includes the use of metal hardware, wire or nylon strings, and bone or plastic parts.

Wood and metal may be painted by spray or in dip tanks. Spray-painting operations can cause a fire unless carried out in spray booths with explosion-proof electrical components. Manufacturing of drums and percussions combine metalworking and woodworking exposures, plus plastic or skins for the heads. Electronic components may be highly susceptible to damage by dust, static electricity, and changes in temperature or humidity.

Finished instruments are highly susceptible to damage from fire, smoke, dust, and water.

High-valued instruments may be targets for theft. Appropriate security controls should be taken including physical barriers to prevent entrance to the premises after hours and an alarm system that reports directly to a central station or the police department.

Equipment breakdown exposures include malfunctioning production equipment, dust collection and ventilation systems, electrical control panels and other apparatus. A lengthy breakdown of production machinery could result in a severe loss, both direct and under time element.

Crime exposures are chiefly from employee dishonesty and theft of money and securities. High-end musical instruments may be targets for theft. Employees may act alone or in collusion with outsiders in stealing money, raw materials such as precious metals or exotic woods, or finished stock. Background checks should be conducted on all employees.

There must be a separation of duties between persons handling deposits and disbursements and handling bank statements. Appropriate security controls should be taken including physical barriers to prevent entrance to the premises after hours and an alarm system that reports directly to a central station or the police department.

Inland marine exposures include accounts receivable if the manufacturer offers credit, computers (which may include computer-run production equipment), exhibitions, goods in transit and valuable papers and records for customers' and suppliers' information. Raw stock and work in process may be transported between different buildings or locations.

If precious metals are used in the process, a separate jewelers block policy will be needed due to theft limitations in standard property forms. The primary causes of loss are fire, theft, collision, overturn, and water damage.

If work is done on customers' property, bailees coverage should be considered. An installation floater may be needed if the manufacturer installs pipe organs.

Commercial auto exposure may be high if the manufacturer transports raw materials or finished products. Manufacturers generally have private passenger fleets used by sales representatives. There should be written procedures regarding the private use of these vehicles by others.

Drivers should have an appropriate license and an acceptable MVR. All vehicles must be well maintained with documentation kept in a central location.

Commercial Insurance And Business Industry Classification

  • SIC CODE: 3931 Musical Instruments
  • NAICS CODE: 339992 Musical Instruments Manufacturing
  • Suggested ISO General Liability Code(s): 57257
  • Suggested Workers Compensation Code(s): 3383, 2923

Description for 3931: Musical Instruments

Division D: Manufacturing | Major Group 39: Miscellaneous Manufacturing Industries | Industry Group 393: Musical Instruments

3931 Musical Instruments: Establishments primarily engaged in manufacturing pianos, with or without player attachments; organs; other musical instruments; and parts and accessories for musical instruments.

  • Accordions and parts
  • Autophones (organs with perforated music rolls)
  • Banjos and parts
  • Bassoons
  • Bells (musical instruments)
  • Blowers, pipe organ
  • Bugles and parts (musical instruments)
  • Calliopes (steam organs)
  • Carillon bells
  • Cellos and parts
  • Chimes and parts (musical instruments)
  • Clarinets and parts
  • Concertinas and parts
  • Cornets and parts
  • Cymbals and parts
  • Drummers' traps
  • Drums, parts, and accessories (musical instruments)
  • Electric musical instruments
  • Electronic musical instruments
  • Flutes and parts
  • Fretted instruments and parts
  • Guitars and parts, electric and nonelectric
  • Harmonicas
  • Harps and parts
  • Harpsichords
  • Heads, banjo and drum
  • Mandolins and parts
  • Marimbas
  • Mouthpieces for musical instruments
  • Music rolls, perforated
  • Music stands
  • Musical instrument accessories: e.g. reeds, mouthpieces, stands, traps
  • Musical instruments, including electric and electronic
  • Oboes
  • Ocarinas
  • Octophones
  • Organ parts and materials, except organ hardware
  • Organs, all types: e.g., pipe, reed, hand, street, barrel, electronic,
  • Percussion musical instruments
  • Piano parts and materials, except piano hardware
  • Pianos, all types: e.g., vertical, grand, spinet, player, coin-operated
  • Piccolos and parts
  • Saxophones and parts
  • Stringed musical instruments and parts
  • Strings, musical instrument
  • Synthesizers, music
  • Trombones and Parts
  • Trumpets and parts
  • Ukuleles and parts
  • Vibraphones
  • Violas and parts
  • Violins and parts
  • Woodwind and brass wind musical instrument
  • Xylophones and parts
  • Zithers and parts

Musical Instruments Manufacturers Insurance - The Bottom Line

Not all Musical Instruments manufacturers insurance policies are the same. You can learn if your business has the best fit insurance policies by talking to an experienced commercial insurance broker.

Often they are able to save you on premiums and offer you better policy options than you currently have.

Types Of Small Business Insurance - Requirements & Regulations

Perhaps you have the next great idea for a product or service that you know will appeal to your local area. If you've got a business, you've got risks. Unexpected events and lawsuits can wipe out a business quickly, wasting all the time and money you've invested.

Operating a business is challenging enough without having to worry about suffering a significant financial loss due to unforeseen and unplanned circumstances. Small business insurance can protect your company from some of the more common losses experienced by business owners, such as property damage, business interruption, theft, liability, and employee injury.

Purchasing the appropriate commercial insurance coverage can make the difference between going out of business after a loss or recovering with minimal business interruption and financial impairment to your company's operations.

Small Business Information

Insurance is so important to proper business function that both federal governments and state governments require companies to carry certain types. Thus, being properly insured also helps you protect your company by protecting it from government fines and penalties.

Small Business Insurance Information

In the business world, there are many risks faced by company's every day. The best way that business owners can protect themselves from these perils is by carrying the right insurance coverage.

The The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight.

Commercial insurance is particularly important for small business owners, as they stand to lose a lot more. Should a situation arise - a lawsuit, property damage, theft, etc. - small business owners could end up facing serious financial turmoil.

According to the SBA, having the right insurance plan in place can help you avoid major pitfalls. Your business insurance should offer coverage for all of your assets. It should also include liability and casual coverage.

Types Of Small Business Insurance

Choosing the right type of coverage is absolutely vital. You've got plenty of options. Some you'll need. Some you won't. You should know what's available. Once you look over your options you'll need to conduct a thorough risk assessment. As you evaluate each type of insurance, ask yourself:

  • What type of business am I running?
  • What are common risks associated with this industry?
  • Does this type of insurance cover a situation that could feasibly arise during the normal course of doing business?
  • Does my state require me to carry this type of insurance?
  • Does my lender or do any of my investors require me to carry this type of policy?

A licensed insurance agent or broker in your state can help you determine what kinds of coverages are prudent for your business types. If you find one licensed to sell multiple policies from multiple companies (independent agents) that person can often help you get the best insurance rates, too. Following is some information on some of the most common small business insurance policies:

Business Insurance Policy Type What Is Covered?
General Liability InsuranceWhat is covered under commercial general liability insurance? It steps in to pay claims when you lose a lawsuit with an injured customer, employee, or vendor. The injury could be physical, or it could be a financial loss based on advertising practices.
Workers Compensation InsuranceWhat is covered under workers compensation insurance? This type of insurance protects a business and its owner(s) from claims by employees who suffer a work-related injury, illness or disease. Workers comp typically provides the injured employee with benefits to cover medical expenses, a portion of his/her lost wages, rehabilitation costs if applicable, and permanent partial or permanent total disability.
Product Liability InsuranceWhat is covered under product liability insurance? I pays an injured party's settlement or lawsuit claim arising from a defective product. These are usually caused by design defects, manufacturing defects, or a failure to provide adequate warning or instructions as to how to safely use the product.
Commercial Property InsuranceWhat is covered under business property insurance? General liability policies don't cover damages to your business property. That's what commercial property insurance is for. It protects all of the physical parts of your business: your building, your inventory, and your equipment, giving you the funds you need to replace them in the event of a disaster. If you work from home, you might consider a Home Based Business Insurance policy instead.
Business Owners Policy (BOP)What is covered under a business owners policy (BOP)? This is a policy designed for small, low-risk businesses. It simplifies the basic insurance purchase process by combining general liability policies with business income and commercial property insurance.
Commercial Auto InsuranceWhat is covered under business auto insurance? This type of insurance covers automobiles being used for business purposes. This could include a fleet of business-only vehicles or a single company car. In some cases it might cover your car or your employee's car while they're being used for business. These policies have much higher limits, ensuring you can cover your costs if one of these vehicles gets into an accident.
Commercial Umbrella PoliciesWhat is covered under commercial umbrella insurance? This type of policy is a sort of "gap" insurance. It covers your liability in the event that a court verdict or settlement exceeds your general liability policy limits.
Liquor Liability InsuranceWhat is covered under liquor liability insurance? It covers bodily injury or property damage caused by an intoxicated person who was served liquor by the policy holder.
Professional Liability (Errors & Omissions)What is covered under professional liability insurance? This type of business insurance is also known as malpractice oe E&O. It covers the damages that can arise from major mistakes, especially in high-stakes professions where mistakes can be devastating.
Surety BondWhat is covered under surety bonds? Bonding is a contract where one party, the SURETY (who assures the obligee that the principal can perform the task), guarantees the performance of certain obligations of a second party, the PRINCIPAL (the contractor or business who will perform the contractual obligation), to a third party, the OBLIGEE (the project owner who is the recipient of an obligation).


Who Needs General Liability Insurance? - Virtually every business. A single lawsuit or settlement could bankrupt your business five times over. You might also need this policy to win business. Many companies and government agencies won't do business with your company until you can produce proof that you've obtained one of these policies.

Business Insurance Required by Law
Small Business Commercial Insurance

If you have any employees most states will require you to carry worker's compensation and unemployment insurance. Some states require you to insure yourself even if you are the only employee working in the business.

Your insurance agent can help you check applicable state laws so you can bring your business into compliance.

Other Types Of Small Business Insurance

There are dozens of other, more specialized forms of small business insurance capable of covering specific problems and risks. These forms of insurance include:

  • Business Interruption Insurance
  • Commercial Flood Insurance
  • Contractor's Insurance
  • Cyber Liability
  • Data Breach
  • Directors and Officers
  • Employment Practices Liability
  • Environmental or Pollution Liability
  • Management Liability
  • Sexual Misconduct Liability

Whether you need any or all of these policies will depend on the results of your risk assessment. For example, you probably don't need an environmental or pollution policy if you're running an IT company out of a leased office, but you would need data breach and cyber liability policies to fully protect your business.

Also learn about small business insurance requirements for general liability, business property, commercial auto & workers compensation including small business commercial insurance costs. Call us (855) 767-7828.

Additional Resources For Manufacturing Insurance

Learn all about manufacturing insurance. Manufacturers face many unique risks such as product libility and/or product recall exposures due to the nature of their business operations.


Manufacturing Insurance

For manufacturers, having the proper coverage is very important. You will need Products/Completed Operations Liability Coverage to protect you against injuries or property damage cause my the products you make or sell.

Manufacturing is an extremely broad category that includes countless potential hazards and exposures in virtually all coverage areas. Because of this, every individual manufacturer is unique and a specific risk survey of every operation is advisable.

The basic insurance needs for every class of business or operation includes property coverage for buildings, machinery and equipment, as well as for raw stock and finished products.

Liability insurance for premises exposures is important but products liability insurance presents greater concerns so these exposures and coverage needs must be evaluated carefully.

In addition, protection for injuries to workers, environmental coverages and automobile insurance are priority items.

What does the insured does that could result in a covered loss? The insuring agreement only requires that the insured be legally obligated to pay damages for injury to others or damage to their property included within the products-completed operations hazard covered by the insurance.

Because of this, every product manufactured and completed operation exposure for each named insured must be determined, described and evaluated to be certain that each represents acceptable exposures, or are acceptable classes of business to the insurance company providing coverage.

Once the extent of all business activities and operations is determined, the process of identifying hazards begins. The first step in the process is completely listing and describing all current products being manufactured and projects being worked on.

The next step is obtaining the same information for discontinued products and completed projects for the past five to 10 years, depending on the products or projects involved. This should include an explanation of why the products were discontinued. If some completed projects were of a different type than those currently being worked on, an explanation is in order, including whether the insured may resume them in the future.

Minimum recommended small business insurance coverage: Building, Business Personal Property, Business Income with Extra Expense, Equipment Breakdown, Employee Dishonesty, Accounts Receivable, Computers, Goods in Transit, Valuable Papers and Records, General Liability, Employee Benefits Liability, Environmental Impairment Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.

Other commercial insurance policies to consider: Earthquake, Flood, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.


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