Sound Recording Studio Insurance
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What Insurance Do Sound Recording Studio Need?
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Cyber Liability Insurance protects you from the theft of sensitive data. If you suffer a data breach or software attack, Cyber Liability Insurance will cover the costs of notifying and restoring affected customers, recovering data and repairing security systems.
Frequently Asked Questions
Why do Sound Recording Studios need insurance?
The financial consequences of a potential mishap could easily destroy the assets of your business when you don't have insurance. Having insurance is important as it covers the expenses of covered risks, for example, insurance will cover the legal expenses when your business is faced with a lawsuit.
What risks do Sound Recording Studios face?
Below are some common risks sound recording studios can face:
- A client of yours claims that the recording result was sub-par and they blame your sound recording studio for their loss of profits.
- One of your sound recording devices catches fire. This causes your office to burn down, leaving everything to dust.
- An unreleased track was leaked to the public, and your client claims that you are responsible because your business is the only one they recorded that song with. You later found out that your computer has been hacked. Not only that, all your customers' information including their recorded tracks were stolen as well.
How much does Sound Recording Studio Insurance cost?
The cost of insurance for sound recording studios varies as there are several criteria that define the total cost of your insurance. If you want to find out the cost of your insurance fast, simply apply online and we'll send in your free quote in just a couple of minutes.