Music Shop Insurance

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Insurance For Your Music Shop In 3 Steps

Complete The Quote Form
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Compare Quotes
Compare quotes
Purchase Cover
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What Is Music Shop Insurance?

Music shop insurance gives financial protection to a business if the unexpected happens. The policy consists of various covers depending on the policyholder’s requirements.

Running a music shop carries various risks that may be sensible to insure against. Typical risks for a music shop include having high-value instruments on display/in stock rooms, furnishings, high public footfall, and employees.

As the owner of a music shop, it’s essential to understand how your business would cope if it were to suffer an unexpected event, a fire or theft, for example, and decide whether your business could benefit from having cover in place to protect you. Insurance is also a legal requirement in specific areas; if you have employees, for example, you will most likely be required by law to have employer’s liability insurance in place.

Finding The Right Insurance For Your Music Shop

Ensuring you have the correct covers in place is important, so it is helpful to talk to a shop insurance specialist who can offer advice and create a bespoke policy suited to your needs.

At Quote Goat, we work with a panel of leading insurance specialists who are on hand to find you the right cover at the right price. Business owners can save time and money by submitting just one quote form through our site and receiving music shop insurance quotes from up to 5 insurance providers.

Music Shop Insurance Renewals

When the time comes to renew your policy, we recommend repeating the quote process, as staying with the same provider is often not the cheapest option.

What Cover Might A Music Shop Policy Include?

Employer’s Liability Insurance: If you have employees at your music shop, you will most likely be required by law to have this cover in place. It can help protect you should an employee suffer illness or injury due to their work for you.

Buildings/contents Insurance: If you rent your premises, then the landlord usually arranges commercial buildings insurance. It covers the building in many events, including fire and flood damage. You can check the details with the landlord. Contents insurance is usually arranged by the tenant, and this will typically cover damage, loss or theft to furniture, tools & equipment.

Stock Insurance: Music shops will usually have a significant amount of capital tied up in stock, so you may want to make sure that your insurance policy includes cover for your stock should it be damaged, lost or stolen. It is important to note that any claims will cover the cost price of your stock and not the retail price.

As well as the above, there will be other types of cover that you should discuss with an insurance specialist when you receive your quotes.

Written By Michael Foote, Insurance and Finance Expert

Michael Foote is the founder of Quote Goat and has over 13 years experience working in the finance, insurance and currency sectors. Since launching Quote Goat he has appeared on TV as well as many of the largest online publications including Forbes, The Telegraph and The Metro. Prior to Quote Goat, he worked in finance in the city for a number of firms including HSBC.