Music Gear News
Musical instrument insurance 'is vital'
Individuals need to take care with their musical instruments after a report discovered a quarter of performers have lost an item or had one stolen.
According to research carried out by Allianz Musical Insurance, the average cost of replacing gadgets such as a guitar or drum kit is £650.
Some 54 per cent of respondents observed they do not have insurance to protect against losses, while 60 per cent admitted their own forgetfulness had played a part in the thefts.
Robin Stagg, Allianz Musical Insurance claims manager said, "Musicians are often leading busy lives attending performances and gigs and as our research shows, there are occasions when instruments are lost or stolen."
He added 69 per cent of those with cover cited financial reassurance as the reason behind taking it out.
The potential for long-term value with instruments has been highlighted by Slash's decision to sell off two signature Gibson guitars.
Both of them are expected to raise a lot of money for the Los Angeles Youth Network, a charity that helps homeless, abused and neglected adolescents to improve their quality of life.
Posted on 21 Feb 2011 13:26 to category : Instruments News
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