back

Preferred Language

Preferred Language

Musical Instrument Insurance

A musical instrument is a prized possession for amateur and professional musicians. However, these instruments can be susceptible to damage and are costly to repair or replace. Therefore, it is wise to get your musical instrument insured, particularly if you practice music regularly or are in the music industry.

Musical Instrument Insurance from Bajaj Finserv offers high coverage at an affordable premium. The plan covers you against damage or loss to your musical instrument due to fire, burglary, theft and more.

  • Plan details

    With Musical Instrument Insurance, you can get coverage of up to Rs. 40,000 at just Rs. 599 per annum. You can pay the premium online using your preferred payment mode.

  • What’s covered

  • Fire and special perils

    The plan covers any damage to your musical instrument due to fires, explosions, implosions, strikes, riots, lightning and environmental disasters such as storms, floods, earthquakes, landslides and more.

  • Burglary And Robbery Cover

    Burglary and robbery

    Musical Instrument Insurance protects against any loss or damage to your musical instrument in an actual or attempted robbery or burglary at your insured premises.

  • Accidental damage

    The plan offers coverage for repair and replacement costs in case of accidental damage. The instrument must have been in your possession when it was damaged for you to qualify for this benefit.

    Note: Coverage is provided as per the invoice value, up to a maximum of the sum insured.

  • What’s not covered

  • Loss due to pollution or contamination

    Any loss, destruction or damage to the musical instrument because of pollution or contamination will not be covered.

  • Deductibles applicable

    A deductible amounting to the first 5% of the claim amount is applicable on every claim unless specifically revised and altered by the insurer and mentioned in the Certificate of Insurance. The deductible will be a minimum of Rs. 1,000 for a sum insured of up to Rs. 20,000 and Rs. 2,000 for a sum insured of Rs. 20,000 to Rs. 50,000.

    Please click here to know more about the policy’s terms and conditions.

  • Delay in application

    To be eligible for this cover, you must get your musical instrument insured within 30 days of its purchase (as per the date on the invoice).

How to apply

  • Click on the ‘Buy Now’ button on this page and share your basic details in the online application form.
  • Check and confirm your application by entering the OTP received on your mobile number.
  • Pay the premium via credit/debit card, UPI, mobile wallet, or any other available online payment mode.

You will receive the details of your membership via email.

How to file a claim

Please get in touch with the customer experience team within 24 hours of your musical instrument’s damage or loss to raise a claim. You need to submit these documents while filing the claim:

• Duly filled claim form
• Invoice or bill copy
• FIR copy in case of burglary or theft

You contact our customer experience team through any of the following ways:

• Toll-free number: 1800 209 5858
• Email: bagichelp@bajajallianz.co.in
• Customer service website
• Mailing address: Bajaj Allianz General Insurance Co. Ltd. - Bajaj Allianz House, Airport Road, Yerwada Pune- 411006
 

Contact us

For queries related to the policy, please email us at wecareinsurance@bizsupportc.com.

Disclaimer - *Conditions apply. This product is offered under the Group Insurance scheme wherein Bajaj Finance Limited is the Master policyholder. The insurance coverage is provided by our partner Insurance Company. Bajaj Finance Limited does not underwrite the risk. IRDAI Corporate Agency Registration Number CA0101. The above-mentioned benefits and premium amount are subject to various factors such as age of insured, lifestyle habits, health, etc (if applicable). BFL does NOT hold any responsibility for the issuance, quality, serviceability, maintenance and any claims post sale. This product provides insurance coverage. Purchase of this product is purely voluntary in nature. BFL does not compel any of its customers to mandatorily purchase any third-party products.”

Did you know, a good CIBIL score can help you get a better deal on loans and credit cards?