Insurer launches WeLoveMusicians policy

They will cover your violin for £3.20 a day, they say (but see Comments).

Cambridge-based NWBIB has set up specialist cover for musicians by beginning its WeLoveMusicians brand.

The policy is aimed at all levels of musicians from novices to global artists and the broker has a special scheme providing cover for professionals and delegated authority to offer insurance to non-professionals.

Read on here.

smashed violins

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  • £3.20 per day is £1,168 per annum – and that presumably is their starting point. If they are throwing in cancellation insurance/travel insurance as well that might be a good deal for those lucky enough to own instruments in excess of £100K but for most of us, given that the going rate for musical instrument insurance is in the region of 1% I don’t fall for their hype I’m afraid and will stick with my existing arrangements

    • “[…] though I wonder if that can apply to instruments holding any real value?”

      The WeLoveMusicians website estimates a personal quote as follows “(inclusive of insurance premium tax at the current rate)”:
      £38.33 – for instruments valued £0 – £5,000
      £58.04 – for instruments valued £5,001 – £10,000
      £82.71 – for instruments valued £10,001 – £15,000
      £104.46 – for instruments valued £15,001 – £20,000
      For instruments valued £20,001 – £50,000, the exact total value of the instrument must be entered to obtain a personal quote (ie. £88.00 for an instrument valued at £20,001 and £220.00 for an instrument valued at £50,000).
      For instruments valued at +£50,001, one must call the brokers directly for a “tailored quote to meet [ones] needs”.
      https://welovemusicians.co.uk/GetAQuote/

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