Do you have a lot invested in your home studio? I know I do. When my wife and I recently moved, I packed up my studio in my car and took it to our new place in one trip.

I was a little nervous the entire trip. The value of my car probably doubled for the duration of that car ride. If a random hijacker had decided to hold me up and steal my car, he would’ve hit the jackpot.

It’s More Than Just Financial

I don’t have tens of thousands of dollars invested in my studio. When I say the value of my car doubled, it’s because my car isn’t worth all that much. šŸ™‚ Still, my studio equipment is valuable to me. I have an obvious financial connection to it, but even more than that I have an emotional connection to it.

If it was all destroyed at some point, I wouldn’t be able to simply whip out my wallet and replace it.

There are a million reasons to get renters insurance, but so many people skip out on this. If you couldn’t walk out and replace your home studio at the drop of a hat, and you’re a renter, you need to get renters insurance.

Some people really don’t have a lot of valuable items in their apartment. If you’re a home studio owner, then you do. Protect it. Get a policy that will cover the cost to replace everything.

Get it done. Wouldn’t be awful if you lost all of your gear to a flood or fire and couldn’t record for three years while you saved up to buy it all again?

This is obviously not a recording tip, but it still applies. If you lose your gear, and you no longer have a studio, then you probably won’t hang out around Home Studio Corner either. And I want you to stick around. šŸ˜‰

Got any insurance stories? Leave a comment!

[Photo by kevindooley]

  • Brandon

    I agree that renters insurance is a good thing to have, however it failed me big time… I had someone steal my $2600 24″ iMac which was my primary recording computer along with some other stuff. Was unsure how they got in, they didn’t leave any sign of forced entry… which the insurance company used as their out and refused to pay out on my claim despite the police report showing that there was obviously someone that came in and tore the place up, they just didn’t break any windows or bust my door in.

    So make sure you know whats in your policy and what outs they have on your claims!

  • danielhadaway

    I second everything that's been said. As a drummer, I've had an additional homeowner's policy that covers all of my gear. A couple of times I've had cracked cymbals that were a breeze to replace. As Jamie mentioned, my company understood the replacement value of some of the gear is much higher than the price of a new one.

    Now, as a renter, I literally pay something like $6 per month for $10,000 of coverage… With such a nominal cost, it just doesn't make sense to NOT insure all of our gear.

  • jamiecerniglia

    I've got a rather substantial amount (for me) invested in my recording equipment. My insurance agent said that they wouldn't cover my equipment unless I purchased an additional business liability policy. Through the Recording Academy I found out about http://www.musicproinsurance.com They have been fantastic to work with. They get that 30 year old Telefunken 251 mic has a higher replacement value than a brand new reissue. The policy has a simple $100 deductible. When I moved few years ago, the movers broke off a knob on one of my mic pres. There were no questions asked by musicpro. If I wanted a new one, all I needed to do was pay the deductible, and I'd have a replacement. As it turns out I fought the movers to get the pre repaired, but musicpro was ready to go if I wanted a new one. They also have business liability insurance if you are using your studio professionally.

    • Awesome. Thanks Jamie!!!

    • Neil

      You made a great point that deserves to be emphasized: if you're making money using the equipment, there's a good chance your rental insurance won't cover it (since it is your business) by default. So, it's definitely worth checking exactly what your policy covers!

      • Good call, Neil. Added to my to-do list…just in case.

        • jamus

          good call Neil, In New Zealand I got caught out like that with a stolen set of mics from my house.
          The insurance assessor came round was all buddy buddy and told me how he like to record stuff and did I ever record people .I said yeah i like to do recording and BAM 3 weeks later I got a letter saying I was POTENTIALLY using my gear to make money so i should have had business insurance so I had voided my policy!!!!
          I argued that I was a 20 year old student and didn’t make money and that I recorded people to continue learning(was all true) but they wouldn’t come to the party.
          So now I read the policy about 100 times and ask a heap of questions!!!!!