Looking for musical instrument shop insurance that's cheap and good value? Are you worried about the cost? Not sure if you need it? Relax. There is a whole panel of insurers and brokers at your service.
Quickly protect yourself with specialized insurance
Your retail business may be responsible for injuries or illnesses due to your products, or you may be liable for damages caused by any employees you hire or manage. This type of policy protects your business against these risks and claims.
Shop insurance experts can arrange cover quickly and efficiently, protecting your business against unexpected events, as specified in your policy. You only have to pay for the cover you need.
Insurance for musical instrument shops - what is it?
Unlike other types of business insurance, musical instrument shop insurance provides all the protections you need in one package. Unlike other types of business insurance, musical instrument shop insurance provides all the protections you need in one package. Although many musical instrument shops have the same insurance requirements as other types of businesses, many have specific needs when it comes to coverage.
Does my musical instrument shop really need insurance?
As shop owners, it is your responsibility to protect your customers, employees, suppliers, and their property. Having musical instrument shop insurance is a top priority to keep against the unexpected.
Public liability coverage is required for anyone working with the general public, whereas employers need to carry employers' liability coverage if they employ employees.
In addition to protecting your stock, you will need products liability insurance, fire and theft insurance and property insurance, as well as a number of other coverage options to protect your livelihood and business.
Get a quote today!
A broker panel can help you find the right business insurance, but finding the time to do it all can sometimes be challenging.
In addition to locking up at night and taking your business online, musical instrument shops face unique risks. It seems unlikely, but injuries occur every day, and musical instrument shop public liability claims can be costly. Your business will be protected by the brokers on the panel, allowing you to concentrate on growing your business and making money.
What is covered by musical instrument shop insurance, typically?
It is possible to customize musical instrument shop insurance to cover your specific risks, but the basics of musical instrument shop insurance are the same.
Having a business means dealing with customers, which also involves public liability insurance. It isn't a legal requirement, but it is extremely valuable in the event of injury or damage to a customer or third party. Compensation and legal fees should be covered when a customer files a claim with public liability.
The employers liability policy will be a legal requirement if you hire employees. This is designed to compensate employees who are injured through no fault of their own.
Having professional indemnity insurance can protect you from claims if a customer isn't happy with your advice or believes you are negligent. If your musical instrument shop offers advice or expertise, you may need to have professional indemnity insurance.
Product liability insurance might provide protection against legal costs, claims, and even damage to your reputation if you sell or manufacture a product that causes injury, illness, or loss.
In the case that your musical instrument shop closes due to unforseen damage, business interruption insurance can provide coverage for both the loss of income and fixed costs you incur during that time period.
Those who own musical instrument shops should consider buildings insurance. The structure, or fixtures and fittings, may be covered against risks like fire, flood, terrorism, vandalism, or accidental damage.
Contents insurance for a business can cover everything from fixtures and fittings to business equipment, including computers and other technology systems.
Stock insurance may provide protection for up to a certain amount of stock in the premises, while some insurers offer fast payments to improve cash flow. Most musical instrument shop owners maintain some stock in the premises itself as well, and there's a risk it can be damaged or stolen through fire or flooding.
Make sure that the value of the stock protected is enough for your needs by reviewing your stock insurance policy, and also check if your policy allows you to raise the value around certain dates, such as Christmas.
It's important to know what's covered and what's not under your musical instrument shop's insurance policy when it comes to accidental damage. A good broker can advise you on what's covered, and perhaps more importantly, what's not.
Compare quotes new, from a number of brokers regulated by the Financial Conduct Authority who can find the best insurance policy for your unique circumstances, and help you find the best deal.
How it works
- You fill in a simple form, giving some details of what you are looking for.
- You will receive broker quotations to compare.