Music Shop Insurance: Cost & Quotes From $11/mo

To make music, we need to use instruments. Music shops are the retail business that satisfies the thirst of music professionals for good gear. 

Consider insuring your music shop because customers are highly meticulous and only want the best instruments for their gigs at concerts and other events. Having coverage can help if you sell defective instruments and a claim is filed by sound engineers and other clients. And if someone experiences an accident while on the premises of your business, then you can use your insurance policy to cover the medical treatment. 

Music shop insurance is the right insurance package for your business. Consider having coverage because it’s helpful, especially when starting your music shop. Read this guide to know what policies are included, how much premiums cost, and which companies provide the best coverage.

Music Store Liability Insurance

Liability insurance is a critical part of protecting your music shop. This is offered as a general liability and product liability policy. The sections below discuss how these types of music store liability insurance work. 


General Liability Insurance for Music Shops 

CoverWallet  NEXT (Best) Thimble  Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $300,000/$1,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $100,000 $100,000 $5,000 $100,000 $1,000,000
Waiver of subrogation included? Yes No Included Can be included No
Hired/non-owned auto liability coverage included? Yes No Excluded Can be included Can be included
Equipment breakdown floater included? No  Yes Yes Can be included Can be included


General liability insurance can help cover you if someone slips and falls in your music store, if someone has an accident involving one of your products, or if a customer sues your music shop for any reason. Liability insurance can provide compensation for the damage or pain. It will also shoulder the cost of legal support needed if a lawsuit is filed. Use the table above to see which insurance company offers the best general liability insurance for music stores. 


What Are Some Realistic Situations Where You Can Leverage General Liability Insurance?

Your music shop can use general liability insurance if these mishaps happen:

  • The guitar string snaps and injures the eye of the customer trying it out

  • The customer gets a momentary shock while inspecting the amplifiers sold in your music shop

  • The bench collapses while the customer is trying out the grand piano sold in your music shop

  • The customer slips while traversing the pavement of your music shop

  • The customer falls on the floor after tripping on one of the hi-hats sold in your music shop

What Other Uses Does Your Music Shop Have for General Liability Insurance?

Aside from covering claims for bodily injuries or property damage, your music shop can also use a general liability policy to:

  • Reimburse the losses of the landlord if the space you rent is damaged by a fire

  • Take care of settlements and legal defense costs if your music shop is sued for slander, libel, and copyright infringement

  • Cover the medical treatment of third parties if a vehicle your music shop hired or borrowed causes an accident

  • Reimburse customers if their instruments in your custody get damaged or lost by fire, theft, vandalism, and other covered perils

Product Liability Insurance for Music Shops 

Your music shop has responsibility for the items sold. Product liability insurance can help cover the resulting expenses if a customer sustains bodily injuries or property damage because of a musical instrument bought from your music shop. You can only use product liability insurance if it can be proven that the instrument in question has:

  • Labeling errors

  • Manufacturing defects

  • Incorrect packaging

  • Design errors

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Commercial Property Insurance for Music Shops 

CoverWallet NEXT (Best) Thimble The Hartford Hiscox
Building coverage limit (minimum) $50,000 $330,000 $25,000/$500,000 $60,000 $25,000
Contents coverage limit (minimum) $50,000 $35,000 $25,000/$500,000 $60,000 $15,000
Outdoor signs Excluded $2,500 Excluded Excluded Included
Accounts receivable  Excluded Excluded $5,000/$10,000 Excluded Included
Money and securities Excluded $2,500 $1,000 Excluded Included
Lock and keys  Excluded $2,500 Excluded Excluded Included
Business interruption floater Excluded Included Included Excluded Included
Equipment breakdown floater Excluded Included Excluded Excluded Included
Inland marine insurance floater Excluded Excluded $10,000 Excluded Excluded
Employee dishonesty floater Excluded $5,000 $2,500 Excluded Excluded


Commercial property insurance is a coverage for the commercial building or space that’s owned, rented, or leased by your music shop. You will have to face major losses if something happens to the physical location where your business is operating. In connection, commercial property insurance gives your business a fighting chance when the worst happens. Use the table above to see which insurance company offers the best commercial property insurance for music shops. 


How Does Commercial Property Insurance Help Your Music Shop?

Commercial property insurance will grant reimbursement for financial losses if these exposures happen:

  • Fire

  • Theft

  • Vandalism

  • Riot

  • Sinkhole collapse

  • Volcanic action

  • Lightning

  • Weather

  • Falling objects

  • Impact

  • Vehicle

  • Aircraft

  • Sprinkler leakage

Can You Use Commercial Property Insurance if Something Happens to the Instruments in Your Shop? 

Yes. Commercial property insurance also covers the instruments that your music shop is selling. In fact, aside from the instruments, coverage applies to computers, POS, lighting, display cases, and other valuables. 


Business Owner’s Policy for Music Shops 

CoverWallet NEXT (Best) Thimble  The Hartford Hiscox
General liability aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000
Commercial property coverage limit  $50,000 $330,000 $25,000/$500,000 $60,000 $25,000
Optional policies can be added? Yes Yes Yes Yes Yes
Name additional insureds for free? Yes Yes Yes Yes Yes
BOP discount? Yes Yes Yes Yes Yes


Some insurance companies will recommend bundling general liability insurance and commercial property insurance in a business owner’s policy. By doing so, you enjoy comprehensive coverage that’s 10% lower than buying general liability and commercial property insurance as stand-alone policies. Moreover, policy management becomes easier. Use the table above to see which insurance company offers the best business owner’s policy for music shops. 


Tools and Equipment Insurance for Music Stores

NEXT  Thimble Hiscox The Hartford
Aggregate limit $3,000/$10,000 $2,500/$5,000 $15,000/$25,000 $5,000-$10,000
Covers hired and borrowed equipment? $3,000/$10,000 $2,500/$5,000 No Yes
Miscellaneous equipment also covered? $5,000/$10,000 No Yes Yes
Offered as an endorsement to general liability insurance? Yes Yes Yes Yes
Deductible $500 $500 $0 $0


Tools and equipment insurance covers the computer, LCD displays, and other equipment used by your music store to track and generate sales. The coverage of this insurance applies if you sustain losses due to fire, theft, vandalism, operator error, and other covered perils. Use the table above to see which insurance company offers the best tools and equipment insurance for music stores. 


Workers Compensation Insurance for Music Stores

Workers’ compensation insurance helps if an employee of your music store sustains a work-related injury or disease. This grants the money that can be used to cover an employee’s emergency care, hospitalization, medication, rehabilitation, retraining, lost wages, and death benefits. 

Your music store must purchase workers’ compensation insurance as soon as it has one or more hires. Failure to get this insurance will result in legal incursions punishable by the worker’s comp board or labor board of the state. 


My Music Shop is a Family Business. Do I Still Need Worker’s Compensation Insurance?

There’s no need to purchase workers’ compensation insurance if you’re in a state that doesn’t treat family members, who are working for your business, as employees. On the other hand, be sure to purchase the policy if the opposite is true. 


Other Insurance Policies to Consider Having

You might want to further invest in the following music store insurance policies to cover specialized risks and enjoy more comprehensive protection:

  • Umbrella liability insurance-Umbrella liability insurance adds to the limits of your general liability policy and ensures that highly costly claims are accounted for without using up your business’s reserves

  • Commercial auto insurance-Commercial auto insurance allows your music shop to cover the cost of vehicular accidents and vehicle repair

  • Inland marine insurance-You can use inland marine insurance to protect stocks and other valuables owned by your music shop that are currently in transit

  • Employee dishonesty insurance-Employee dishonesty insurance reimburses losses if an employee commits theft, fraud, forgery, misrepresentation, social engineering, and other dishonest acts against your music store

  • Cyber liability insurance-Cyber liability insurance takes care of expenses if your music shop’s website or computer becomes a target for phishing, ransomware, malware, and other similar activities

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Music Shop Insurance Cost

Cost per Month Cost per Year Deductible
General liability insurance $32 $384 $0-$500
Commercial property insurance $88 $1,056 $1,000-$2,000
Business owner’s policy $110 $1,320 $1,500
Commercial auto insurance $50 $600 $500-$1,000
Workers compensation insurance $105 $1,260 $1,000-$2,500
Cyber liability insurance $90 $1,080 $500-$1,000
Employee dishonesty insurance $78 $936 $500-$1,000
Inland marine insurance Depends on the value of the items to be covered Depends on the value of the items to be covered $500-$1,000


The average music shop insurance cost is $32 per month or $384 per year for a $1 million general liability policy. Your costs may vary depending on a number of factors:

  • How much coverage do you need? The more coverage you need for your music store, the higher your insurance costs may grow. Keep in mind that if you have expensive instruments in the store, for example, you may find yourself spending more on your insurance policies, since you may need more protection

  • How likely is an accident in your store? If you have filed a liability insurance claim in the past, you may need to pay more for a new policy, or to keep up with your current policy

  • How many employees does your music store employ? The more employees you have, and the greater the likelihood of an injury to them based on their job duties, the more you may pay for workers’ comp insurance

In connection, here’s a table that shows how much the best companies charge for a $1 million general liability insurance:

Cost per Month Cost per Year Best for
NEXT $11 $132 Best overall; Fastest general liability insurance for music shops
CoverWallet $18 $216 Music shop insurance online quotes comparison
The Hartford $22 $264 Workers compensation insurance for music shops
Tivly $25 $300 Comparing music shop insurance quotes over the phone
Thimble $27 $324 On-demand coverage for music stores
Hiscox $32 $384 Music shop insurance with automatic policy renewal

Compare Cheap Music Shop Insurance Quotes Online

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Best Music Store Insurance Companies

There are a lot of great insurance companies out there to choose from when you start searching for music store liability coverage, workers’ compensation insurance, and more. Take a look at some of the best music store insurance companies and how you can be sure that you have chosen the right one for your needs. 


NEXT Music Shop Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance for music shops

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies 

Cons

  • Couldn’t find any

NEXT offers commercial liability insurance designed for small businesses, which makes it a great company for music shop owners, including those who are just starting out. Furthermore, NEXT offers liability coverage at a variety of tiers, which means that you can select a policy that fits your budget and the current needs of your business. 

Best for: Best overall; Fastest general liability insurance for music shops 

Average cost: $11 per month

Our rating: 10/10


CoverWallet Music Shop Insurance

Pros

  • Manage your policy online quickly and easily

  • Allows you to name multiple covered parties on your commercial liability policy, which can help ensure that your entire business is protected

  • Allows you to cancel at any time, which means you can keep going with the plan that’s right for you

Cons

  • Not an insurance company but a broker 

CoverWallet makes it easy to manage multiple types of insurance policies online. As a broker, they are in an ideal position to connect you with information about all of your policies and the available options. 

Best for: Music shop insurance online quotes comparison

Average cost: $18 per month

Our rating: 10/10


The Hartford Music Shop Insurance

Pros

  • Number 2 best company for workers’ compensation insurance

  • Highly rated by AM Best and S&P

  • One of the most ethical insurance companies

  • Buy a quote online or get in touch with an agent

Cons

  • Doesn’t grant coverage in Alaska and Hawaii

The Hartford is a carrier with a proven portfolio in granting coverage. It has insured a million small businesses, is ranked number 2 of the best companies for workers’ compensation insurance, and underwrites policies for highly specialized risks. Your music shop insurance package from this company offers the following:

  • $1 million-$2 million general liability insurance

  • $1 million product liability insurance

  • $60,000 commercial property insurance

  • Workers compensation insurance

  • Cyber liability insurance

Best for: Workers’ compensation insurance for music shops

Average cost: $22 per month

Our rating: 10/10


Tivly Music Shop Insurance

Pros

  • Work with a responsive customer service team

  • Easily compare quotes based on a variety of needs and options

  • Compare quotes over the phone 

Cons

  • No mobile app

  • May require a phone conversation to review your policy and coverage, rather than doing it online

Tivly offers coverage for both small and large businesses, making it the perfect solution for many of your music shop insurance needs. It offers phone consultations to help you easily decide on the right insurance coverage for your needs. Furthermore, if you cannot get coverage through Tivly due to the size of your business or other constraints, Tivly may help connect you to an insurance partner. Call Tivly now and talk with a representative to compare quotes over the phone. 

Best for: Comparing music shop insurance quotes over the phone

Average cost: $25 per month

Our rating: 10/10


Thimble Music Shop Insurance

Pros

  • On-demand coverage for music shops

  • Quick to  issue an estimate of your rates

  • Numerous add-ons available

  • Customizable limits and deductibles

Cons

  • You can’t reach customer service by calling

Thimble grants on-demand coverage without a lot of questions. With this company, you can enjoy policies with highly flexible durations.  Thimble’s music shop insurance is tailored for the needs of startups. It offers the following:

  • $1 million-$2 million general liability insurance with optional business equipment coverage and customer property coverage

  • Business owner’s policy with an optional non-owned/hired auto liability coverage and cyber liability coverage

  • Workers compensation insurance

Best for: On-demand coverage for music stores

Average cost: $27 per month

Our rating: 9/10


Hiscox Music Shop Insurance

Pros

  • Worldwide coverage

  • Automatic policy renewal

  • Fast to process claims

  • Grants a BOP discount

Cons

  • Not accredited by BBB

Hiscox is an insurance company that offers coverage in UK and the US. It has insured about 500,000 small businesses. What many love about Hiscox is that it automatically renews the policy of customers. Your music shop insurance package from this company offers:

  • $300,000-$2 million general liability insurance

  • $250,000 cyber liability insurance

  • Workers compensation insurance

  • Business owner’s policy

Best for: Music shop insurance with automatic policy renewal

Average cost: $32 per month

Our rating: 9/10

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