Musician Insurance Policy Information
Musician Insurance. Musicians may play musical instruments, compose music, or sing - but at the core of this extremely varied profession lies a devotion to music, and very often, a dream come true as the musician has managed to transform their passion into their career.
Professional musicians perform individually or in a group, such as a band or symphony orchestra. They may limit performances to local venues or tour regionally, nationally, or internationally.
They may be represented by an agent or management firm which handles all arrangements for performances or may contract with a record label that handles distribution of their recorded music.
Other musicians operate independently, including bookings, production, and distribution of recorded music.
Regardless of where a musician's music can be enjoyed and what kind of music they make, musicians will spend much of their time rehearsing and experimenting, and perhaps recording, auditioning, or performing.
Although there is no question that musicians have the good fortune of being engaged in an unconventional profession, the fact remains that they face some of the very same hazards as any other commercial venture.
For that reason, musicians, too, need to take steps to protect their financial health in the event that they are confronted by major perils. Investing in a comprehensive insurance plan is, therefore, essential for musicians.
What kinds of musician insurance coverage might they require? Keep reading to discover more.
Musician insurance protects musical performers from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Below are some answers to commonly asked musician insurance questions:
- What Is Musician Insurance?
- How Much Does Musician Insurance Cost?
- Why Do Musicians Need Insurance?
- What Type Of Insurance Do Musicians Need?
- What Does Musician Insurance Cover & Pay For?
What Is Musician Insurance?
Musician insurance is a type of insurance coverage specifically designed for musicians, music performers, bands, and other individuals in the music industry. This insurance provides financial protection and support in case of unexpected events or accidents during concerts, recordings, and other music-related activities.
The coverage may include, but is not limited to, liability protection, personal injury protection, equipment coverage, cancellation coverage, and tour protection. The specific policies included in a musician insurance package can vary depending on the provider and the type of coverage desired.
How Much Does Musician Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for musical performers ranges from $37 to $59 per month based on location, revenue, claims history and more.
Why Do Musicians Need Insurance?
Music may be an essential expression of human nature, but it is also business. Like any other business, musicians can be confronted with a broad range of perils that could pose a massive risk to their financial future.
Musicians face some of the same risks any other business owner would, but they also have to consider hazards unique to their line of work.
Musicians who have commercial premises or recording studios could, for example, be impacted by acts of nature such as wildfires or earthquakes. Vandalism and theft are both real threats, too, alongside accidents such as fires.
In addition, if you run a website, the threat of hacking and cyber theft are never far from the horizon.
As a musician, you will also, meanwhile, face some industry-specific risks. Musical instruments or computers that are essential in allowing you to carry out your work could be damaged, requiring urgent repair or replacement.
Musicians could accidentally cause property damage as they perform at various venues, or they could face costly intellectual property claims in which a third party alleges that a musician violated copyright - lawsuits that can be accompanied by exorbitant costs even if they later prove to be completely baseless.
To protect yourself against these and other perils, it is vital to invest in the musician insurance that will allow their business to continue thriving even in the face of a temporary setback.
What Type Of Insurance Do Musicians Need?
Insurance for musicians is far from one-size-fits-all - after all, some musicians will spend most of their time recording at home and making their creative work available electronically, while others conduct orchestras or perform in bars or at weddings and other events.
Your insurance needs will depend on your unique circumstances, and therefore, consulting a commercial insurance broker who will craft an insurance plan designed just for you is essential.
With the fact that not all musical performers will require the same types of coverage in mind, the following forms of musician insurance should be on your radar:
- Commercial Property: This form of insurance is designed to protect business owners from financial losses associated with property damage or loss that results from perils like theft, vandalism, or acts of nature. Some musicians will not have their own commercial premises, but be aware that these policies cover smaller assets, too - including, in most cases, your musical instruments and computers.
- General liability: To protect yourself from lawsuits in which third parties allege that you caused them to be injured or you damaged their property, it is vital to carry commercial general liability insurance. It covers attorney fees as well as other legal costs, including settlement expenses.
- Professional Liability: Also often called errors and omissions insurance, this kind of musician insurance coverage protects your financial health in case of claims that you did not provide a service previously agreed on, or you did so negligently. You may rely on this form of insurance if a customer was not satisfied with your performance.
- Intellectual Property Liability: As these policies serve the purpose of defending businesses in case of copyright infringement and related claims, they are essential to musicians.
Performers in this industry may also require additional forms of musician insurance - you may require commercial auto insurance if you use a vehicle professionally, for instance, or cyber security coverage if your website plays a major role in your business plan.
To make sure you have all your bases covered, speak with a commercial insurance broker.
Musician's Risks & Exposures
Premises liability exposure is minor on-premises due to lack of public access to the musician's home. If there is a recording studio, it must be well lighted with floor covering in good condition. Electrical cords from instruments or sound equipment can present a tripping hazard.
Exits must be sufficient in number, be well marked, and have backup lighting in case of power failure. Parking areas and sidewalks need to be in good repair with snow and ice removed, and generally level and free of exposure to slips and falls.
Off-premises exposures can be extensive. Contractual arrangements should specify the responsibilities of the musician and the performance venue.
Internet and media liability exposures can arise from websites that include sales activities and opportunities for downloading recorded music. Personal injury exposures can consist of allegations of copyright infringement.
Workers compensation exposures may be non-existent because musicians generally do not have employees. When employees are hired, exposures include office work and travel. Lifting of heavy instruments and sound equipment can result in back sprains and strains or hernias.
Electric shock injuries can result from electrical power surges, arcing, or fraying cords. Slips and falls can occur from tripping over power cords. Musicians may fall from raised stages or be assaulted by audience members.
Occupational hazards include repetitive motion injuries and permanent hearing impairment from ongoing high decibel levels. Drivers may be injured in automobile accidents.
Property exposures are generally limited, as most musicians operate out of their homes and have limited amounts of business property. If the musician has a recording studio, ignition sources include electrical wiring, heating, and air conditioning systems. All wiring should be up to date, well maintained, and meet codes for the occupancy.
As newer equipment is added, wiring should be upgraded as needed. Acoustical tiles and other sound-deadening materials and equipment should be made of fire-retardant materials. Electronic equipment and musical instruments are susceptible to damage by fire, smoke, and water. Musical instruments, amplifiers, and recording equipment may be high in value and targeted by thieves.
Inland marine exposures are primarily from the musical instruments and the sound system, which may be expensive and difficult to replace. These are often fragile and can be damaged by fire, smoke, water, theft, collision, and overturn.
The musical instruments and equipment are covered under a commercial articles floater. If there are stage backgrounds and other items needed for shows, these should be covered under a theatrical property floater.
Musical groups may need accounts receivable if credit is offered, computers for tracking inventory, or valuable papers and records coverages for contacts and recordings. Duplicates should be made and kept in an off-site backup facility for easy reproduction following a loss.
Crime exposures due to the theft of money and securities can be extensive if recordings or other types of merchandise are sold during performances. There may be employee dishonesty exposures if the musician has employees who sell products, accept payment, or pay for expenses on behalf of the musician. Background checks should be performed on all employees handling money.
Business auto exposure may be non-existent. Personal lines auto coverage may be sufficient if the musician uses private passenger vehicles for local performances. When travel is extensive, such as when a musician goes on tour, commercial auto coverage should be considered. Drivers must have appropriate licenses and acceptable MVRs. Vehicles must be maintained and records kept in a central location.
What Does Musician Insurance Cover & Pay For?
Musicians can be sued for various reasons, such as copyright infringement, breach of contract, defamation, and personal injury. Let's explore each of these reasons and how insurance can help protect them:
Copyright infringement: Musicians can be sued for using copyrighted material without permission or for sampling someone else's music without proper clearance. If a lawsuit is filed against a musician for copyright infringement, their insurance policy may provide coverage for legal fees and damages awarded to the plaintiff.
Breach of contract: Musicians may be sued for breaching a contract with a promoter, record label, or other parties. For example, if a musician cancels a concert without proper notice, they may be sued for breach of contract. In such cases, insurance can provide coverage for legal fees and damages awarded to the plaintiff.
Defamation: Musicians can be sued for making defamatory statements about others, such as other musicians or individuals. In such cases, their insurance policy may provide coverage for legal fees and damages awarded to the plaintiff.
Personal injury: Musicians may be sued for causing physical harm or injury to others during a concert or event. For example, if a musician throws something into the crowd and injures a fan, they may be sued for personal injury. In such cases, insurance can provide coverage for legal fees and damages awarded to the plaintiff.
In summary, insurance can help protect musicians from the financial impact of lawsuits by providing coverage for legal fees and damages awarded to the plaintiff. Musicians should consider purchasing liability insurance to protect themselves from potential lawsuits.
Commercial Insurance And Business Industry Classification
- SIC CODE: 7929 Bands, Orchestras, Actors, And Other Entertainers And Entertainment Groups
- NAICS CODE: 711130 Musical Groups and Artists
- Suggested Workers Compensation Code(s): 9156 Theater NOC - Players, Entertainers, or Musicians
Description for 7929 Bands, Orchestras, Actors, And Other Entertainers And Entertainment Groups
Division I: Services | Major Group 79: Amusement And Recreation Services | Industry Group 792: Theatrical Producers (except Motion Picture),
7929: Bands, Orchestras, Actors, And Other Entertainers And Entertainment Groups: Establishments primarily engaged in providing entertainment other than live theatrical presentations. These establishments include bands, orchestras, and entertainers.
- Classical music groups or artists
- Concert artists
- Dance bands
- Drum and bugle corps (drill team)
- Entertainment groups
- Jazz music groups or artists
- Performing artists
- Popular music groups or artists
- Symphony orchestras
Musician Insurance - The Bottom Line
To protect your business, employees and customers and fans, having the right musician insurance coverage is vital. To see what types of business insurance options are available to you, how much coverage you should invest in and the cost - speak to a reputable commercial insurance agent.
Additional Resources For Arts & Recreation Insurance
Read up on small business arts and recreation commercial insurance.
- Amusement Parks
- Archery Ranges
- Athletic Fields
- Billiard And Pool Halls
- Bowling Alleys
- Cave Tours
- Dance Studio
- Disc Jockey DJ
- Drive-In Theaters
- Entertainers And Performers
- Event Planning
- Fairs And Fairgrounds
- Film Production
- Fine Art
- Guides & Outfitters
- Handball & Racquetball Courts
- Horse & Dog Racetracks
- Indoor Sports Complexes
- Interior Decorator
- Interior Design
- Motorsports Racetracks
- Photo Booth
- Recording Studio
- Recreation Centers
- Riding Stables
- Roller Sakting Rinks
- Shooting Ranges
- Skeet & Trap Shooting Ranges
- Ski Resorts
- Talent Agency
- Tennis Centers
- Video Arcades
- Wedding And Special Event
- Specialty Arts And Antiques
- Specialty Clubs And Leisure Time Activities
- Specialty Entertainment
The arts and recreation industry is a vital part of our society and culture, providing entertainment and enjoyment for people of all ages. However, as with any business, there are inherent risks and potential liabilities that can arise. This is where insurance comes into play.
One of the main reasons the arts and recreation industry needs insurance is to protect against financial losses due to accidents or injuries. For example, if a performer is injured while rehearsing or performing, their medical bills and lost wages could be significant. Without insurance, the cost of these expenses could potentially bankrupt a small arts organization.
In addition to protecting against accidents and injuries, business insurance can also cover damages or losses due to weather events, natural disasters, and other unexpected circumstances. For example, if a theater is forced to cancel a performance due to a power outage or extreme weather, insurance can help cover lost income and expenses.
Another important aspect of commercial insurance for the arts and recreation industry is liability coverage. This type of insurance can protect against legal claims and lawsuits if someone is injured or becomes ill while attending an event or using facilities. For example, if a patron slips and falls at a theater, they may file a lawsuit against the venue for damages. Liability insurance can help cover the costs of legal fees and any settlement or judgement.
Overall, the arts and recreation industry needs insurance to protect against financial losses and legal liabilities that can arise in the course of business. Without commercial insurance, small arts organizations and recreational facilities could be vulnerable to financial ruin in the face of unexpected events or accidents.
Minimum recommended small business insurance coverage: Business Income with Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Commercial Articles Floater, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Bailees Customers Floater, Money and Securities, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.