UK Money News

20th February 2008
Musicians urged to insure their instruments
Britons who fail to insure their musical instruments are risking an especially painful financial hit in the event of theft or loss, a home insurance provider has warned.
According to figures from Halifax, over the last five years some 301,000 musicians have had equipment worth a whopping £340 million stolen from their homes.
Meanwhile, 266,000 maestros have had their kit pinched while on the road - potentially jeopardising a tour.
Martin Foulds, senior claims manager at Halifax Home Insurance said the shocking statistics underlined the importance of ensuring that musical instruments are insured.
He commented: "Although musical instruments and recording equipment have undoubtedly become more affordable, they’re still not items that can be easily replaced if the unthinkable happens."
Halifax's survey also revealed that the total worth of UK musicians' instruments stands at £6.8 billion and that 9.7 million Britons regularly play a musical instrument in their home.
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