Musical instruments can cost anywhere from a few dollars, up into the tens of thousands of dollars – and in the case of antique instruments they can be valued into the millions.
If you or your children own musical instruments of any significant value, make sure they are insured for loss due to damage or theft.
There are a few insurance agents who specialize in musical instrument insurance. They provide policies specific to musical instrument coverage. However, you can save a significant amount of money by added a personal property rider to your existing homeowner insurance policy.
Be careful, however, to make sure that the coverage from this inclusion would be as inclusive as that provided by an instrument-specific policy. In most cases, there coverage might not be quite as thorough, but the difference in premiums could be very significant – with the homeowners route being cheaper.