Why do musical instrument shops need insurance?
A broken violin
Music shops welcome musicians of all types, from weekend rock stars to classical pianists. As you’re giving a local musician a brief tour of your violins, one of the more expensive options is knocked from the cabinet by a customer.
While the customer apologises, the damage to the violin will require specialist repairs. Luckily, with business contents insurance, you’re able to claim back on related costs.
A weekend accident
One weekend, a sporting accident leaves you with severe bruising and back pain. Your GP recommends spending the next few weeks resting – after all, running a musical instrument shop is physical work.
The summer season is usually the busiest time of year for your brass and woodwind instruments, so without cover you’re facing lost income. In situations like these, personal accident insurance can help by providing a weekly payment.
Instrument safety complaints
A week after selling an acoustic guitar to a family, a parent returns the instrument, complaining that one of the guitar strings snapped and hit the child in the face. The parent is unsatisfied, and claims you sold them a faulty product.
They plan to make a claim against you for damages. In scenarios like this, having product liability insurance can help protect your musical instrument shop financially from claims made against you.
What insurance is available for musical instrument shops?
Public and products liability insurance
Public and products liability insurance can protect your musical instrument shop if a member of the public claims they have suffered an injury as a result of your business activities or that their property has been damaged.
The insurance extends to work you carry out, for example if you’re setting up a drum kit in someone’s home and knock over a vase. Accidents can happen. But public liability insurance can help to protect you if they do. This cover includes products liability insurance to protect against any harm or damage caused by a defective product.
Employers’ liability insurance
Protecting you from the costs of claims if an employee is injured or suffers a work-related illness, employers’ liability insurance could be legally required if you employ staff. As an employer, you are responsible for the safety of your employees while they carry out their work.
For instance, one of your store assistants might injure their shoulder while lifting a case of a heavy instrument, or someone could claim that exposure to loud music caused hearing problems.
Find out more about employers’ liability insurance on the government website (external link).
Business contents insurance
Much like home contents insurance, business contents insurance is there to cover damage to items you may own through your business. Whether it’s in the event of loss, damage or theft, business contents insurance can provide help navigating expensive repairs and replacements.
If your music shop owns valuable stock – including instruments – then this type of insurance can help to pay for repairs or replacements if the unexpected should strike.
Other types of insurance worth considering for your musical instrument shop could include personal accident, portable equipment insurance, cyber and data and legal protection insurance.
Chat to us to explore your insurance options for your musical instrument shop
Build my coverInsurance for musical instrument shops: FAQs
Are musical instruments covered by contents insurance?
Yes. Instruments that are part of your stock can be covered under business contents insurance. However, your own personal instruments won’t typically be covered by business contents cover. Instruments owned by your staff or visitors may be covered at your music shop, but only if you are legally responsible for these and they aren’t insured elsewhere.
Business contents insurance can also cover:
- Sample instruments, such as those sent by a supplier
- Goods held in trust
- Works of art
- Computers inside your music shop
- Fixtures and fittings of your music shop.
If you run your music shop business from home, your home insurance policy may not cover business stock, so this cover can provide extra protection for a home-based business.
How much does it cost to insure instruments?
The cost of insuring your instruments varies depending on the level of cover you’ve selected. In turn, the value of your instruments and stock can influence these decisions – if your shop keeps hundreds of pianos, harps, guitars and accessories such as amplifiers, you're likely to pay more than if you run a small shop.
The starting price of business insurance with Hiscox begins at £8.40*, but will vary depending on the covers you add to your policy.
*Figures based on an average of all business insurance policies sold to at least 10% of our customer base between January 2023 and January 2024
What insurance do I need to run a shop?
The insurance needed to run your music shop depends on the nature of your business. For example, if you employ staff, you may need employers’ liability insurance by law. Other relevant insurance policies to consider include public and products liability.
If you sell your stock online, you could also consider cyber insurance to protect you against online crime and data risks.
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