Recording Studio Insurance – Music Studio Insurance
Recording Studio Insurance, Music Studio Insurance Liability
By: Allen Financial Insurance Group
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Recording Studio Insurance
Behind the excitement of a new album release, behind the fulfillment of the recording artist’s dream, and behind every rise to stardom, is the recording studio. Somewhere there is a team of producers, engineers, musicians and marketing professionals who have spent countless hours to make the sound and the album a success.
Whether you’re a small recording studio working with local artists or a large studio producing albums for headliners, your music studio insurance needs can be both unique and complex.We’ve been insuring businesses like yours longer than many of today’s musical superstars have been alive. We understand your complexities. We understand the increasing professional exposure that is evolving in our litigious society. We understand the financial investment that you’ve made in cutting edge equipment. We are here to make sure that you, and your investments, are protected properly.
What is Recording Studio Insurance?
Recording Studio Insurance is a specific type of business insurance policy. It is designed to protect studio owners from third-party lawsuits and loss of business property or assets. AFIG’s insurance offers coverage options that are important to recording studio owners, allowing them to build customizable policies that meet their specific studio needs. We can cover the smallest home studio, to the largest professional multi-room studios.
Recording Studio Overview:
Recording Studios are an industry that remains consistently strong, regardless of the economic state of the country, there is always a demand for new music. Owning and operating a recording studio can be quite an endeavor, but just like any other business that involves working with the public it is not without risks.
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In today’s highly competitive business environment you need every advantage to succeed. That’s especially true when it comes to selecting your business insurance. Recording studios are unique and shouldn’t be insured like other businesses. In order to meet these specific needs, we have created a special recording studio package that broadens and increases coverage where studios need it most.
Our goal is to provide more for the insurance dollar than any of our competitors. Recording studios have unique coverage concerns for which specific policy forms have been designed to accommodate these exposures. Our comprehensive insurance portfolio gives you the ability to combine broad property, liability, commercial auto, and umbrella coverage.
What Does Recording Studio Insurance Cost?
Basic recording studio policies start at about $500 a year. The cost of your policy will depend on a few factors, including:
- The size of your studio
- The location of your studio
- Your gross annual revenue
- The number of years you have been in business
- The amount of coverage purchased
Music Studio Property
| Building and Structures | Replacement Cost | ||||
| Building Glass | Included | ||||
| Business Personal Property | Replacement Cost | Coinsurance Waived | |||
| Property Off Premises – Including Transit | Included | ||||
| Personal Property of Others | Included | Not Bailee | |||
| Temporary Relocation of Property | $50,000 | For property up to 90 days | |||
| Fine Arts | $25,000 | Limit can be increased | |||
| Business Income and Extra Expense | Included | 12 months actual loss sustained | |||
| Business Income – Dependent Properties | $25,000 | ||||
| Interruption of Computer Operations | $25,000 | ||||
| Identity Fraud Expense | $15,000 | Aggregate Limit | |||
| Employee Dishonesty | $25,000 | Limit can be excluded or increased | |||
| Accounts Receivable | $25,000 | On and Off Premises | |||
| Data Processing Equipment & Media | $50,000 | ||||
| Outdoor Property | $15,000 | Bridges, Walks, Roadways, Patios, Radio & TV Antennas | |||
| Valuable Papers and Records | $25,000 | ||||
| Water or Sewage Back Up | $5,000 | ||||
| Signs within 1,000 feet | Included | Neon, Fluorescent or Mechanical. | |||
| Arson & Theft Reward | $10,000 | ||||
| COMMERCIAL GENERAL LIABILITY | |||||
| Per Occurrence | $100,000 to $2,000,000 | ||||
| General Aggregate | $200,000 to $4,000,000 | ||||
| Products and Operations Aggregate | $200,000 to $4,000,000 | ||||
| Blanket Contractual | $100,000 to $2,000,000 | ||||
| Host Liquor Liability | $100,000 to $2,000,000 | ||||
| Medical Expenses | $5,000 | ||||
| Broad Form Property Damage Liability | Included | ||||
| Damage to Premises Rented to You | $300,000 | ||||
| Limited World Wide Liability | Included | Lawsuits brought in US | |||
| Blanket Additional Insureds | Included | XTEND Endorsement | |||
| Blanket Waiver of Subrogation | Included | XTEND Endorsement | |||
| Personal Injury by Contract | Included | XTEND Endorsement | |||
| Broadened Named Insured | Included | XTEND Endorsement | |||
| Injury to co-employee or co-volunteer | Included | XTEND Endorsement | |||
Eligible exposures: Establishments that provide clients with facilities, recording equipment, technicians and materials such as tape in order to record material that the listener will hear when playing the recording. A Burglar and Fire Alarm is required.
Ineligible operations:
 | Music Publisher or Distribution Service |
| Motion Picture – National Recording Studio |
| Radio Broadcasting Music Checker |
| Radio Transcription Service |
| Integrated Production & Distribution Service |
| Overnight boarding of clients or visitors |
| 24 hour operations |
Related AFIG Programs:
- Musical Instrument Stores for establishments retailing new musical instruments & similar supplies
- Music Publisher or Distribution Service
- Stereo Equipment Stores for establishments retailing stereo systems and compact disc players
- Tape, Compact Disc & Record Stores for the retailing of new pre-recorded audio and video tapes & compact discs
Long recognized for delivering superior service Allen Financial Insurance Group support policyholders through its global network of loss control and claim professionals. Our loss control specialists have a deep knowledge of the entertainment business. They identify potential hazards and help mitigate or prevent losses. They can provide invaluable advice in fire prevention, disaster recovery planning, equipment maintenance and premises safety.
Recording Studio Insurance – Music Studio
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