What is Musical Instrument Insurance?

Musical instruments are a thing of care, and musicians hold them dear. Whether you are a professional or an amateur, every instrument is important, and any damage to them can be disheartening. Besides the emotional value, repairing them in case of any damage is expensive as well.


To circumvent this pinch to your pocket, opt for musical instrument insurance by paying a minimal annual fee of just Rs.599.

Features and Benefits of Musical Instrument Insurance Policy

The key features of this musical instrument insurance policy are enlisted below:

Affordable plan

This insurance comes with an affordable premium amount of Rs. 599 per annum and secure benefits of up to Rs. 40,000.

Extensive coverage

This policy extends coverage against a host of mishaps, including theft, fire, other perils, and any accidental damages.

How to Apply for Musical Instrument Insurance?

The application process is simple and hassle-free. All you have to do is follow a few simple steps to get covered:

  • Click on Buy Now

    Tap on ‘Buy Now’ on the product page

  • Fill in the Details

    Enter the required details in the online application form

  • Make the Payment

    Complete the quick online payment

What’s Covered

Here is a list of coverage of this instrument insurance policy:

  • Accidental damage coverage

You, as a policyholder, will receive financial coverage against any accidental damages to your musical instrument. It extends coverage for any kind of repair and replacement of your musical instrument. Additionally, the coverage amount depends on the instrument's invoice value, subject to the maximum sum insured limit.

  • Any fire and special perils

Under this musical instrument insurance coverage, damage or loss that occurred to the musical instrument due to fire, riots, strikes, explosions, and implosions are included. Along with these, any natural calamities like storms, floods, etc., are also included.

  • Theft and robbery

Any loss or damage to your musical instrument owing to theft or burglary or an attempt is also covered under this policy.

Policy Plan Details and Specifications of Musical Instrument Insurance Policy

All details about the plan are mentioned in this table:

Membership Fee

Rs. 599

Coverage Limit

Rs. 40,000


1 year

Payment Method

Net Banking, Credit card, Debit Card, or any UPI

*Note: Individuals need to repurchase this insurance plan after a year to continue enjoying its benefits.

What’s not covered

The exclusions of the musical instrument insurance policy are –

  • Delay in application

You need to insure your musical instrument within 30 days of the purchasing date, as mentioned in the invoice. Failing to do so, you will not be eligible to receive the benefits of this musical instrument insurance coverage.

  • Loss due to contamination or pollution

You won't receive any insurance coverage under loss or damage due to pollution or contamination.

  • Deductibles are applicable

Unless your claim is specifically altered and the same is mentioned in the Certificate of Insurance, the first 5% of the claim amount is deductible. In other words, Rs. 1000 will be deducted for a maximum sum insured of Rs. 20,000. Similarly, a deduction of Rs. 2000 for sum insured within Rs. 20,000 to Rs. 50,000.

How to File a Claim for Musical Instrument Insurance Policy and Documents Required

You can file a claim via the following methods –

  1. Email directly at bagichelp@bajajallianz.co.in

  2. Contact on their toll-free number – 1800-209-5858

  3. You also mail them in this mailing address – Bajaj Allianz General Insurance Co. Ltd., Bajaj Allianz House, Airport Road, Yerwada, Pune – 411006.

  4. You can also get in touch through the customer service website.


Additionally, you need to have the following documents to get your claim processed:


  1. A complete and correctly filled claim form

  2. Invoice or bill copy of repairs or replacements

  3. FIR copy (in case of theft or burglary)

Musical Instrument Insurance Customer Care Details

For any additional queries, you can connect with Bajaj Markets via the email id: insuranceconnect@bajajfinservmarkets.in

Frequently Asked Questions about Musical Instrument Insurance

The membership fee for this musical instrument cover is Rs. 599 per annum.

Yes, the musical instrument insurance only offers protection against accidental loss/ damage if the insurance policy is still active. 

The maximum insurance coverage amount for musical instrument cover is Rs. 40,000. 

No, you cannot get insurance coverage after 30 days from the purchase invoice date. 

Yes, theft coverage is available as per the terms stated in the policy.


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