Why do musicians need insurance?
A musician can vary heavily in their work, such as who (and how many) they perform to and how much they travel, but a number of risks are still present, however you choose to conduct your business.
If you’re looking to contact a venue, you may be required to purchase an insurance policy to book a spot, or just as preparation, should the worst happen and you take the blame for any damage that happens to the property as you perform.
Or perhaps you already have a gig planned, but the potential for some of your equipment to break during the performance fills you with dread, and business equipment insurance may be a worthwhile investment.
Generally speaking, public liability insurance is the most common and required insurance for a musician, as in any case you might be face to face with other people, or working on or with a third party’s property, you run the risk of accidental injuries and property damage.
What does public liability insurance cover?
Public liability insurance is helpful for handling injury and property damage claims made against you.
If you were blamed for an accidental injury or property damage or loss, public liability insurance will provide a legal defence as well as pay compensation if you become liable.
Cover includes:
- Accidental injury or death
- Accidental property damage
For example:
- During your performance, someone in the audience is injured in the heat of the moment. You could face potential claims from them and be made to cover the medical costs.
- Even if playing on a smaller scale, perhaps within someone’s home or private venue, any decorations, furniture, or other third-party equipment that you may damage by accident during your performance could see the charges for replacement and repair put in your hands.
- A musician in more personal circumstances could still face charges, such as if someone comes to you to learn and injures themselves. If they believe you at fault, they could pursue legal action.
Other insurance for musicians
Depending on how you work, there are a few other covers worth thinking about:
Instrument & other music equipment cover
A musician, however they conduct their business, relies on their equipment and instruments to perform, teach, or otherwise work. It’s not just the cost of replacement or repair. It’s also the fact that you may have to cancel a performance or two before you can afford to get a replacement.
Business equipment cover will help you with repair and replacement costs if your equipment has been stolen or maliciously damaged.
Commercial legal expenses
From tax investigations to contract disputes, legal costs can spiral quickly. Commercial legal expenses insurance helps with solicitor fees, representation, and even debt recovery. Legal action and costs can quickly grow overwhelming, between tax investigations and contract disputes.
It’s not uncommon for a musician to be paid after the event. You did a good job, you went home in good faith thinking your invoice would be paid soon, but months later, it’s not the case.
A commercial legal expenses cover can be very useful in recovering unpaid debts once you’ve exhausted your normal reminder process.
A commercial legal expenses cover could also prove useful in sticky contractual disputes or in unfair tax pursuits by HMRC.
