Allianz sets tone with musical insurance
Allianz Musical Insurance is urging a new wave of investors who are putting their cash into rare instruments to get their assets insured.
The insurer is promoting its own policy as a new trend emerges involving syndicates of investors who pool their assets to buy rare instruments to loan to up-and-coming musicians.
The idea is that as the musician rises in prominence, so their instrument increases in value.
According to research by Allianz and Emotional Assets Management and Research, fine musical funds are achieving returns of between eight per cent and 12 per cent.
And these investors, said Allianz, should protect their investment with a good insurance policy.
Simon Wheeler, head of Allianz Musical Insurance, said: "If people are choosing instruments as investment pieces, they need to think wisely about insurance.
"Household and contents insurance may not provide cover for instruments take abroad or will help find the original instrument if lost or stolen."
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