Business Insurance for AFM Members
Why do AFM members need business insurance?
The right coverage provides a financial safety net against equipment damage, lawsuits, accidents, and injuries.
If your equipment and instruments are damaged in an accident or fire, or if you are sued for copyright infringement, the resulting repair costs and legal fees could shut down your business.
Contact our licensed insurance specialist to get quotes from top-rated providers.
What types of business insurance do musicians need?
These insurance policies cover the common risks musicians and other music industry professionals face.
Equipment insurance
Equipment insurance protects your valuable equipment anywhere, anytime. It covers losses due to theft, fires, accidents, storms, and vandalism.
Best for:
- Music equipment outside the studio
- Equipment and instruments in transit
- Business property stored off-site
General liability insurance
General liability insurance covers common risks like injuries and property damage. It provides protection for 12 months for any events you may be performing at and gives you access to a customer portal where you can display or print your certificate of insurance.
Best for:
- Venues and other locations open to the public
- Rented or owned commercial property
- Qualifying for leases and contracts
Business owner’s policy (BOP)
A BOP is a cost-effective insurance policy for musicians who own a building or rent a space. The policy bundles property coverage and general liability for less than purchasing the policies separately. Typically musicians can add equipment coverage to this policy.
Best for:
- Claims by others alleging bodily injury or property damage caused by your negligence
- Theft or damage to music equipment
Errors and omissions (E&O) insurance
Errors and omissions insurance helps protect AFM members from lawsuits against them for copyright infringement, libel, slander, or not delivering on services. It’s sometimes referred to as professional liability or media liability insurance.
Best for:
- Mistakes and oversights
- Breach of contract
- Missed deadlines
Cyber insurance
Cyber liability insurance helps protect musicians (AFM Locals) from the high costs of data breaches and cyberattacks. It’s recommended for any business that handles credit cards or other personal information.
Best for:
- Data breach response costs, including legal services, forensics, consumer notification, credit monitoring, and public relations expenses
- Civil liability for privacy breaches or network security events, including regulatory actions
- Damage to your own network, equipment, and digital assets
Workers’ compensation insurance
49 out of 50 states require employers to insure their people against occupational injuries. Workers' compensation insurance protects sole proprietors from work injury costs that health insurance might deny.
Best for:
- Employee medical expenses
- Wage loss benefits
- Occupational injury claims brought by employees under common law
Commercial auto insurance
A commercial auto policy helps cover costs of an accident involving a company-owned vehicle such as a cargo van. It’s usually required for business-owned vehicles.
Best for:
- Property damage caused by your vehicle
- Injuries caused by your vehicle
- Physical damage to your vehicle by collision or other causes
Surety bonds
A surety bond guarantees your business will fulfill the terms of its contracts and payments. It may be required as part of business licensing requirements or requested by clients.
Best for:
- Fulfilling license requirements
- Breach of contract
- Compliance with laws
Verified business insurance reviews
How do I get business insurance?
It’s easy to get equipment insurance and other policies from top-rated U.S. providers. Your dedicated agent will help you find policies that meet your unique insurance needs.