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Studio Security Newsletter

Dan Daley, editor

Issue #5 — November, 2000

Insuring the Future

In this issue of the Newsletter we remind studio owners, engineers, producers and other audio professionals that you need crime insurance.

Joe Montarello, owner of Capital Region Insurance Agency in Albany, NY, and one of a very few insurance brokerages that specializes in studio policies, makes the following recommendations for coverage that facilities should have: While most basic general-peril policies cover theft, Montarello suggests adding coverage which deals with employee theft, which he says most policies don't automatically cover. And always report every theft to local police; failure to do so could delay or even deny compensation.

"Studios are usually open all the time, so you don't always have to see a break-and-enter situation," he says. "But we do need some kind of police report." (And remember -- so does the Mixonline Stolen Equipment Registry, in order to post your reports.)

Montarello's Recording Studio Insurance Program, which is available in much of the eastern U.S. region, costs about $500 per $100,000 of gear, with the $1,000 deductible he says is the average. ("Insurance is pretty much priced by the pound," he says.) However, premiums vary considerably by region, and costs can be reduced by increasing deductibles. Just make sure whatever deductible you choose is what you can afford to lose out-of-pocket.

Last bit of advice: "Try to find an insurance agent who understands what you do for a living."

For information on the Recording Studio Insurance Program, email joem@capregins.com.

More next edition.

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