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Industry Insights

Words of wisdom from our business insurance experts.

What insurance does a musician need to protect their tour and why?

4 min read
August 30, 2021
What insurance does a musician need to protect their tour and why?

If you're a one-man-show, or have a band that does international music festivals, an insurance policy should not be overlooked. Keep the music going and your business growing by mitigating unanticipated risk with the right business insurance policy. You may not think insurance is significant to your business as a DJ or traveling musician, but it is. Save yourself the headache, reputational damage, and financial loss by working with the expert advisors at Fullsteam Insurance.

Our goal at Fullsteam Insurance to help educate business owners and key decision makers about the insurance market. Our team of expert insurance advisors will clear up misconceptions regarding insurance policies, clarify loss mitigation strategies, and identify clear steps on how to set up an insurance program to protect your business. 

We work with all types of traveling musicians, bands, and DJs, so we know how to personalize an insurance policy to fit your business, needs, and price. Your Fullsteam Insurance advisor can tailor your insurance policy based on the location of your business, number of employees you maintain, number of claims previously filed, contract history, and more. 

Did you know reputational harm like libel or slander can cost you on average $50,000 when you are not insured? How many gigs would you have to do to cover that cost? And to be frank, you can be sued just because a dissatisfied client thinks you're negligent and did not perform well enough to fulfill your contractual duties. 

So, what are the benefits of having a business insurance policy? 

  1. It obviously protects your business from certain claims.
  2. It can cover costs related to damages like legal fees, settlements, and much more. 
  3. It adds to your credibility and integrity when building new partnerships.
  4. It can also be required for commercial space rentals.
  5. It may be required depending on the state your business is located in. 
  6. It will ultimately save you time, money, and grief because you can’t predict unforeseen risk. 

One important thing to note when it comes to having a business risk management plan is the preference you could receive, a venue or club owner would rather work with a DJ or musician that is insured versus one that is not. It limits their liability, as well as yours. 

You’re probably thinking, where do I start, what insurance policy or policies do I need? 

Insurance can be confusing, overwhelming, and there are so many types of policies. No worries, our expert advisors have done the work for you and to start there are five types of policies we always recommends. Let’s take a look at these policies: 

General Liability

  • This policy protects DJs and musicians from common lawsuits, such as bodily injury, property damage, and advertising injuries. This policy is key if you own or lease your company office property, visit venue owners, host events, or participate in third party events like festivals.  
  • Equipment insurance is vital to a general liability insurance policy for a DJ or musician. It is also known as a content coverage policy. This type of policy is added to your general liability insurance and protects your equipment. The cost of even a basic DJ setup or band equipment can add up very quickly, and contents coverage can help offset the cost of your gear if it is stolen or damaged.
  • Imagine you’ve booked a once in a lifetime gig at a festival; you sound check earlier in the day and decide to leave all your equipment backstage while you roam the festival grounds. To your dismay, when you return ready to take the stage, you find all your equipment was stolen. You’ve not only broken contractual agreements by not performing, but your gear is totally gone. That’s where your general liability insurance policy has you covered. 

Business Property Insurance

  • This policy is also known as, commercial property insurance which covers your office space or studio and the belongings within it from damage, fire, vandalism, pipe bursts, or natural disasters.
  • This is different than an Inland Marine policy, which covers your property while moving around outside your primary location.

*Fullsteam Insurance Advisor Tip: Combining general liability and business property insurance into a business owner’s policy can not only save you money, but most small, low-risk businesses are eligible for this insurance policy.

Errors and Omissions

  • Is a type of professional liability insurance that protects against claims of inadequate work or negligent actions. For example, breach of contract between a company and a freelance employee who does not meet their contractual obligation.
  • This insurance policy will help offset legal fees and settlements from a lawsuit by a venue owner who claims you did not fulfill your contractual duties of playing a 45-minute set. 

Cyber Liability Insurance

  • Cyber liability insurance can help you survive data breaches and cyberattacks experienced by your company.

Commercial Auto Policy

  • Personal auto insurance policies do not include business use coverage for vehicles. Therefore, you could end up paying for an auto accident if it happens during working hours like on your way to a gig. 

Fullsteam Insurance is the insurance brokerage that will safeguard your business with an insurance policy you can trust. Let our team of expert insurance advisors guide you through building and implementing an insurance policy that understands your needs as a DJ or traveling musician with resources to make the experience easy and secure.

At Fullsteam, we use progressive technology to empower our customers, so they are protected when they need it most. Our dedicated insurance advisors are always a click-away to deliver world-class customer service. They understand how to manage complex risk with secure business insurance policies. We ensure our customers understand their policies by breaking down industry jargon, working with them every step of the way, and making sure they get the best coverage at the best price. When you work with Fullsteam Insurance you can always connect with your insurance advisors quickly and effortlessly, because we know time is of the essence when risk management is at stake. 

Discover your trusted source for personalized business insurance policies that shield your business from liability and always mitigate risk. Get the coverage you need at the price you want so you can concentrate on more important matters like booking gigs and making new music.

Tyler Crawford
by Tyler Crawford
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