Is DJ Insurance Worth It?
As a DJ, you must prepare for an event with utmost precision. This is because DJing a party is a task that requires a lot of effort. Firstly, you have to transport the equipment to the venue.
Once at the venue, you have to carefully set up everything in place. However, the most challenging part is when the guests arrive and take care of your station. Besides that, one mistake can lead to severe consequences. The host may refuse to pay you if your equipment stops working in the middle of the event. They may also file a claim against you if you get into an argument with a guest. That is why you need to get DJ insurance.
Here is a complete DJ insurance guide to help you make an informed decision.
DJ Insurance: What Does It Protect You From?
Just like business owners get the opportunity to choose different insurance policies, so do DJs. Depending on your needs and budget, you can select the best cover for you. Here are the top things that you can get from DJ insurance:
- Theft Protection
DJ equipment is costly and challenging to get, so theft is a serious issue. You may lose thousands of dollars if you don’t have DJ insurance covering equipment theft.
2. Damage Protection
This point is related to the last thing as we said that the equipment is expensive and costs thousands of dollars. That is why if it gets damaged, you will suffer a significant loss. Besides that, damage risk is relatively high when you DJ a party for adults. This is because people can get drunk and engage in a fight, which impacts your equipment. A guest may also get into an argument with you over a song. In some cases, the situation can escalate to vandalism quickly.
3. Liability Protection
A DJ insurance policy for liability will not protect your equipment. Instead, it covers you and your mistakes. For example, you may end up damaging a property’s equipment.
Additionally, if someone trips because of your cables, you will be prone to an injury lawsuit. That is why you should get DJ insurance to protect yourself. A liability policy will cover your legal fees and other bills to prevent financial loss.
Additional Reason To Get DJ Insurance
The earlier mentioned coverages are the three practical reasons that require you to get DJ insurance. However, there is another reason for which you should consider the covers. This reason is that the DJ insurance can help you achieve more gigs with ease.
One of the things to keep in mind is that you are not the only ones at risk when DJing a party. Even the event administrator can face issues because of a lawsuit against you. This is why many venues require their DJ to have insurance cover.
So if you get DJ insurance, you can overcome the issue of not being considered for a gig. Besides that, you will be more likely to get hired, especially if you have a good reputation.
DJ Insurance Costs
It is no secret that DJ insurance can help you in many cases. However, this is not the only factor you must consider to determine if it is worth it. The costs also play an integral role because you may be working on a tight budget. After doing extensive research, we have the best guidance and accurate figures for you. DJ insurance for liability protection starts at $16 per month. It increases depending on the perks you choose to have.
Typically, monthly DJ insurance policies can fall anywhere between $15 to $50. However, if you don’t want to get a package, you can opt for single-day plans. They are mainly designed to help you DJ a party that you may fear will result in equipment damage or other issues. The cost of single-day DJ insurance is relatively higher than monthly plans. You can expect to pay anywhere between $60 to $150 for one-time policies. There is also a third type of insurance plan you can opt for.
An annual plan is particularly for DJs with a stable cash flow and understands insurance’s importance. The yearly policies cost the most, and prices differ significantly. However, you can expect to pay more than $200.
Final Verdict: Is It Worth It?
If you are a DJ, you may be confused about getting regular DJ insurance. Well, the decision is solely yours, and you should consider all factors thoroughly. Our best suggestion is that you should at least protect your gear by using a policy. This is because the equipment is costly, and your business can interrupt if it gets damaged.
Besides that, if you don’t want to commit monthly, you can always opt for single-day plans. They can put your mind at ease while working a gig and give you confidence. This is, of course, if money is not a restriction for you.
Find out more about the importance of insurance here.
Other useful links about Business Insurance:
Community Group Insurance
Commercial Van Insurance
Remember to Compare Your Business Costs is here to help your business every step of the way from business advice, or saving you time and money on your business purchases such as: