Recording studios help aspiring artists make tracks that can be sold at music shops or released on online channels such as Youtube. The audio production studio industry has grown 3.7% year-per-year since 2018. US recording studios generate an estimated $19 billion in revenue every year.
Something bad can happen in your recording studio. It’s possible for some to slip and fall or even get electrocuted. Musical instruments might also get damaged. You need a good recording studio insurance policy. This article will look at things you should know, including:
The inclusions in a recording studio insurance package
Their coverage limits
The cost of premiums
The best companies for recording studio insurance
| 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 |
A general liability policy is a primary inclusion in a music studio insurance package. This grants protection if customers and other parties decide to sue your business for bodily injuries, property damage, copyright infringement, or reputational harm.
This type of recording studio liability insurance has a $1 million-$2 million per occurrence limit that can be used to cover the medical treatment of the claimant, the cost of the damaged property, and legal expenses.
Some examples where you can use general liability include:
A customer slips and falls on a mat in your recording studio
A potential client has their cell phone damaged by malfunctioning studio equipment
If you are leasing the property and a customer causes damage to the building, your financial responsibility could be covered
The general liability policy included in a recording studio insurance package offers these add-ons:
Tools and equipment coverage–Protects against financial losses if studio equipment gets damaged or lost due to theft, fire, vandalism, and other covered perils
Customer property coverage-This overrides the CCC exclusion and allows general liability policy to provide reimbursement in case customer property that’s left in your watch gets damaged or lost
No, the law doesn’t mandate you get general liability insurance. However, some clients may insist on you having it before they do business with you.
| CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
| License defense coverage included | No | No | No | No | No |
| Deductible | $500 | $500 | $500 | $50/$10,000 | $500 |
A recording studio insurance program will offer professional liability insurance if the owner or employee helps clients record their music or other audio. Professional liability covers liabilities from negligence, mistakes, or errors that a business makes from its services. Some of the times you can use professional liability include:
The studio manager hooks up equipment wrong, causing the final recording of a client to be bad and lose money
If a client sues the recording studio for not honoring a verbal contract, professional liability could cover the legal fees of this lawsuit
Extended reporting period add-ons are great for the professional liability policy of the recording studio insurance program. If you have a lapse in your coverage, you can still get a response to your claims. Another great add-on is a prior acts option, which covers mistakes you made before your coverage started.
Professional liability doesn’t cover intentionally malicious acts. If you intend to deceive or defraud a customer, you will not receive coverage.
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| 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 protects against financial losses if something happens to your recording studio’s property, such as music equipment and building. The coverage of this insurance applies if such damage is caused by fire, theft, vandalism, sinkhole collapse, vehicles, aircraft, lightning, riot, and other covered perils. The limits of commercial property insurance begin at $15,000-$25,000.
Business interruption insurance is a common add-on to commercial property insurance. You can also include utility services interruption coverage if it’s not already offered as part of the policy. Earthquake coverage can be added depending on which insurance company you decide to work with.
Yes, if you are leasing your music studio, commercial property insurance is generally required by landlords for their tenants.
Commercial property insurance doesn’t cover normal wear and tear as well as insect damage. Examples of this include things like pipes rusting due to laziness in maintaining them or termites that spread unchecked. Intentional damage to business property is also excluded.
| 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 | $75,000 | $75,000 |
| 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 |
Business owner’s policy simplifies insurance for studio owners by combining commercial property insurance and general liability insurance into one policy. It protects against things like bodily injury claims and damage to your property. Example situations where you can use this insurance include:
A burglar robs your studio to sell the expensive equipment within
A customer injures their arm with heavy equipment in your studio
You do not get professional liability insurance under BOP, so don’t make the mistake of picking the policy as a one-size-fits-all type of insurance.
While it is convenient to get your insurance options bundled together, it usually comes at the cost of a lower coverage limit. You may need to get separate policies if you anticipate the liabilities you might face can exceed the coverage limits. Studio owners typically have expensive equipment that might not be adequately covered.
Another struggle with BOP is that you may be paying for coverage you don’t need since cyber liability and other business insurance solutions can be automatically included in the policy.
| 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 |
Recording studio equipment insurance protects the tools and equipment that your recording studio uses. You use this insurance to cover the repair or replacement of equipment that got damaged or lost due to fire, theft, vandalism, and other covered perils. Some situations where you might use studio equipment insurance include:
Your soundboard breaks down due to electrical shorts
You lend a speaker to a client to use off your studio property, and it gets damaged
While commercial property insurance covers tools and equipment, it is only to a limited extent and only when they are on your property. Tools and equipment insurance covers your equipment even when it needs to be used elsewhere.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $45 | $540 | $0-$500 |
| Professional liability insurance | $55 | $660 | $500-$1,000 |
| Commercial property insurance | $105 | $1,260 | $1,000-$2,000 |
| Business owner's policy | $150 | $1,800 | $500-$1,000 |
| Tools and equipment insurance | $70 | $840 | $500-$1,000 |
The average recording studio insurance cost is $45 per month or $540 per year for a $1 million general liability coverage. Factors that affect the cost of premiums are claims history, business history, location, deductibles, policy limits, and annual revenue. Below is a price comparison of the top companies that provide insurance policies a studio owner would greatly benefit from:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $11 | $132 | Best overall; Fastest general liability insurance for recording studios |
| The Hartford | $25 | $300 | Expertise |
| CoverWallet | $20 | $240 | Comparing recording studio insurance quotes online |
| Tivly | $41 | $492 | Comparing recording studio insurance quotes over the phone |
| Thimble | $42 | $504 | General liability with a comprehensive studio equipment add-on |
| Hiscox | $30 | $360 | Small studio owners |
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The companies below offer the best recording studio insurance. Read some of the reviews below to know their pros, cons, and average cost for a $1 million general liability coverage.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance recording studios
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
As part of their options, NEXT offers policies that are tailored to the entertainment industry, making them a good choice for studio insurance owners. They have general liability, commercial property, tools and equipment, and professional liability.
They offer bundle discounts which are perfect for saving money when you purchase multiple policies. The company was founded in 2016 and currently has an A- (excellent) rating with AM Best for its financial security. Its score for customer satisfaction with the Better Business Bureau is a B+.
Best for: Best overall; Fastest general liability insurance for recording studios
Average cost: $11 per month
Our rating: 10/10
Online insurance certificate
Experience with production policies
Can create specialized business insurance solutions
Limited choices for add-ons in your policies
The Hartford is a competitive option for studio owners that provides business owner’s policy, general liability insurance, professional liability insurance, and commercial property insurance. Their agents are familiar with the challenges of protecting audio equipment and have flexible policies to get the best protection for your price.
This company has an A+ rating from AM Best. Their financial record is strong with over $11 billion in premiums in 2022. The BBB gives them an A+ rating. They boast a 4.8 rating out of 5 from all their customer reviews.
Best for: Expertise
Average cost: $25 per month
Our rating: 10/10
Tailored sound recording policy
Good selection of partners
Manage your insurance easily online
HNOA coverage automatically included to general liability insurance
Not an insurance company but an insurance broker
CoverWallet is an insurance broker with an online quotes comparison platform you can use to get the best recording studio insurance. They offer general liability, commercial property, professional liability, business owner’s policy, and commercial property options to complete your sound recording studio insurance package. The BBB gave CoverWallet an A+ rating for customer satisfaction, which is good for the tens of thousands of customers they serve every year.
Best for: Comparing recording studio insurance quotes online
Average cost: $20 per month
Our rating: 10/10
Over 200 partners to choose from
Easy to generate multiple quotes
No online quotes
Tivly’s insurance policies can protect your studio from bodily injury, business closure, weather events, theft, and vandalism. They offer general liability, commercial property, business owner's policy, professional liability, and lots more through their partners. Call a representative now to get covered.
Tivly has over 200 insurance partners that are all available from one online marketplace. The company has an A from the Better Business Bureau and 20 years of experience in the insurance space.
Best for: Comparing recording studio insurance quotes over the phone
Average cost: $41 per month
Our rating: 10/10
Great app
Great online resources
Short-term coverage available
Online chat-only customer support
Thimble is an insurance marketplace with many great partners that offer studio production insurance. They offer production packages with general liability and professional liability insurance already built in. This company also has business owner’s policy, commercial property, and business equipment insurance. Thimble has an A+ rating from AM Best as well as an A+ from the BBB.
Best for: General liability with a comprehensive studio equipment add-on
Average cost: $42 per month
Our rating: 10/10
Personalized coverage
Pre-existing production packages
14-day money back guarantee
Worldwide liability coverage
Doesn’t cater to businesses in Alaska
Hiscox offers focused policies that are customized for the individual business that buys them. This means that one studio’s insurance might look different from another. The company offers entertainment production packages that include commercial property, business interruption, general liability, equipment insurance, and more.
This company managed to secure an A- from the BBB as well as an A rating from AM Best for financial strength. Every year they service 500,000 customers and offer unique advantages like worldwide coverage. Most of their customers are small business owners, making it a good choice for a smaller studio owner.
Best for: Small studio owners
Average cost: $30 per month
Our rating: 10/10
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
Not all those who wander are lost.
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