Over the weekend, A Flock of Seagulls, the new-wave band of yesteryear, became one-hit wonders yet again. But this time, the hit was not catchy, but criminal.
KTLA news reported that while the band was staying at a hotel in California, their van was stolen, along with the customized guitars and hard drives containing new material that was in tow – all in one fell swoop. Police report the hit is likely to cost the band up to $70,000.
Here’s to hoping that they’ve got a robust Property Insurance policy in place. Without adequate Property coverage, the band will have to replace their equipment out of communal funds (unless police manage to track down the culprits). And even if the cops do find the parties responsible for the theft, A Flock of Seagulls will lose valuable practice and / or recording time while they wait for the case to shake out.
While $70,000 may not be too big a hit for a famous band (even one admittedly past its prime), it’s a price tag that could bankrupt most independent musicians or entertainers who make a living playing gigs here and there.
How Home-Based Entertainers Can Protect Their Gear on the Road
For home-based entertainers, a theft like the one that hit A Flock of Seagulls could spell disaster. Thankfully, Inland Marine Insurance can save the day.
A special type of Property Insurance, Inland Marine coverage is the B-side that protects your moveable business assets – in other words, it’s available as a special endorsement to most Commercial Property Insurance policies. So if someone decides to run off with the equipment you use as an entertainer, you don’t have to worry about replacing it all from your earnings. Instead, you can file a claim with your insurance provider and collect benefits to buy new gear.
And the best part? Inland Marine isn’t just available to the hottest solo artists of the entertainment industry (or those who are steadily working their way up): Inland Marine can protect your restaurant’s food truck, the artwork or other valuables sitting in your healthcare practice’s waiting room, and even your accounts receivable.
Inland Marine Insurance for Home-Based Businesses
So when is it a good idea to consider Inland Marine coverage for your home-based business? As soon as you start taking your show on the road – or otherwise traveling to serve your customers and clients. So whether you do consultations in client homes, demonstrations at rented venues or community centers, or performances all over the country, you can protect your valuable equipment and gear with Inland Marine coverage.