Recording Studio Insurance from Massachusetts Specialists

What is Recording Studio Insurance?

Operating a recording studio can be both personally and financially rewarding, but studios are exposed to several risks that they should protect against. One way that Massachusetts recording studios can protect themselves is by purchasing recording studio Insurance.

Recording studio insurance is specialized commercial Insurance designed for recording and music studios. These policies normally come and package policies that are able to protect against multiple risks by combining coverages together.

What Massachusetts Business is Music Studio Insurance Right For?

Most recording studios in Massachusetts can benefit from the protections offered by music studio insurance. Not carrying insurance can leave a business unnecessarily exposed to risk, and this tends to be the most appropriate commercial insurance for recording studios.

Moreover, recording studios generally should have music studio Insurance regardless of their business structure. Sole proprietorship, limited liability corporation, C corporation and S corporation business structures provide some protections, but those protections are largely different from what an insurance policy affords.

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What Coverages Are Offered by Music Studio Insurance?

As mentioned, music studio policies normally come with multiple coverages. Many of these coverages can be categorized as either liability protections or property protections.

Liability protections primarily guard against lawsuits where a business may be held financially responsible. Some of the liability protections that music studio policies frequently offer are:

• General Liability Coverage, which might cover defamation lawsuits and basic accidents
• Damage to Rented Premises Liability Coverage, which might cover damage caused to leased facilities
• Product Liability Coverage, which might cover harm caused by used or sold equipment
• Completed Operations Liability Coverage, which might cover lawsuits that arise after a transaction is completed
• Special Event Liability Coverage, which might cover harm occurring during a hosted event
• Host Liquor Liability Coverage, which might cover alcohol-related incidents occurring during a hosted event
• Commercial Auto Liability Coverage, which might cover accidents involving studio-owned vehicles
• Commercial Umbrella Coverage, which might give additional liability protection

Property protections mostly guard against damage to studio-owned assets, such as facilities and equipment. Some of the specific property protections that policies often offer include:

• Building and Structure Coverage, which usually insures a studio-owned building
• Tenants Betterment Coverage, which usually insures studio-made improvements to a leased space
• Signage Coverage, which usually covers exterior signs advertising a studio
• Building Personal Property Coverage, which usually insures equipment kept at a studio’s facility
• Property Off-Premises Coverage, which usually insures equipment that’s not at a studio’s facility
• Equipment Breakdown Coverage, which usually insures necessary equipment in the event of malfunction
• Continuation of Income Coverage, which usually insures against revenue losses that follow certain disasters

Studios sometimes also get dishonesty coverage, which typically covers employee theft and sabotage. 

An insurance agent who specializes in these policies can explain the above coverages and any other available coverages.

How Much Do Music Studio Insurance Policies Cost?

Premiums for music studio policies vary, as they are based on many different considerations. Some of the factors that insurance companies frequently take into account are a studio’s location, annual revenues and past claims history.

An independent agent can help studios compare policy options from different insurance companies. Independent insurance agents aren’t obligated to promote any one insurer, which allows them to objectively compare options from various companies.