Are musical instruments covered by travel insurance?
Musical instruments may be considered under the Luggage and Personal Effects benefit of your Fast Cover Travel Insurance policy, if it meets the definition of “Luggage and personal effects” under the policy. Cover depends on the type of policy you have and whether your instrument is specified as a Specified high value item.
Musical Instruments as Unspecified Items: If you have chosen a policy that includes the Luggage and Personal Effects benefit, your musical instrument will be considered an Unspecified item and is covered up to a maximum of $750. Please note unspecified musical instruments will be subject to depreciation of 1% per month, with a maximum depreciation of 60% of the original purchase cost.
Musical Instruments as Specified high value items: If you have a Comprehensive policy, Snow Sports Plus policy or Frequent Traveller Saver policy you can choose to cover your musical instrument for more than it is covered for under the standard luggage and personal effects terms and conditions, by specifying it as a Specified high value item for an additional premium. The maximum cover you can obtain for a musical instrument as a Specified high value item is $5,000, with a combined total limit of $10,000 for all specified items. However, if your musical instrument is a fragile or brittle item, it cannot be declared a Specified high value item.
If you have a Basics policy, it does not automatically provide cover for Luggage and personal effects such as musical instruments, unless you have paid an additional premium to add Luggage and Personal Effects cover to your Basics policy.
If you have a Basics Policy with added Luggage and Personal Effects cover, a Standard Saver policy or a Domestic Plus policy, your musical instrument is covered up to a maximum of $750 as an Unspecified item and you are not able to specify your musical instrument as a Specified high value item. This means the coverage for your musical instrument cannot be increased beyond the $750 limit. Therefore, it is important to read the PDS prior to deciding which policy is right for you and your travel needs, including cover options for your musical instruments.
Eligibility criteria, policy terms, conditions, exclusions, limits and sub limits apply. Consider the PDS prior to deciding on which policy is right for you and your needs.
Any advice is general advice only and does not take into account your individual objectives, financial situation, or needs. Please consider the PDS before making any decisions regarding the purchase of travel insurance.
As each individual’s circumstances are different, we will assess each claim on a case-by-case basis in accordance with your specific circumstances, policy terms, and Certificate of Insurance.