Musicpro Insurance Agency

What Musicpro Insurance Agency does

MusicPro Insurance Agency LLC is a privately held, US-licensed insurance agency founded in 2000 and co-owned by ASCAP and Sterling & Sterling LLC (DBA SterlingRisk). The agency is purpose-built for one vertical — music professionals — and distributes a tightly focused product suite consisting of Standard and Classical Instrument & Equipment Insurance, Studio Liability Insurance (underwritten by The Hartford), and Special Event Liability. Policies are delivered through a self-service web platform (musicproinsurance.com) featuring an instant quote engine based on estimated equipment replacement value, 24/7 online policy management, and direct-to-carrier claims intake via Hanover Insurance Group (the underwriter since 2009). Coverage is worldwide and includes notable policy features such as no vehicle-theft exclusions, $100 per-claim deductibles (not per-item), and 30-day automatic coverage for borrowed or rented equipment up to $25,000.

The business model is a recurring annual subscription paid in full to activate coverage, with annual premiums starting at roughly $175 for entry-tier instrument coverage and $425 minimum for Studio Liability. Revenue mechanics are typical of an insurance agency: MusicPro earns placement fees and commissions on premiums, uses third-party placement channels where useful, and may receive contingent or extra commissions from carriers based on aggregate growth, retention, and loss experience. The company is licensed in all 50 US states and the District of Columbia, with SterlingRisk providing licensing backstop where MusicPro is not directly licensed. Distribution is exclusively direct and digital — no field sales force — supported by content properties (musicprocafe.com) and SEO. The agency is endorsed or supported by virtually every major US music-industry organization (ASCAP, BMI, SESAC, NARAS/Grammy, AFM Local 802, AFTRA, Folk Alliance, MENC, Jazz Alliance International, CMJ) and serves a stated base of more than 10,000 music professionals including high-profile musicians and studios.

Leadership is led by David A. Sterling (President and Vice Chairman), who concurrently serves as CEO and Chairman of Sterling & Sterling. The firm operates from Woodbury, New York, with a headcount of 11-50 employees. No venture capital, private equity, or secondary transactions have been disclosed, and the company has not announced an IPO, acquisition, or restructuring; the operating posture is a stable, niche-specialized insurance agency with no disclosed AI/ML capabilities, no app, and no public APIs.

Name

Musicpro Insurance Agency

Legal name

MusicPro Insurance Agency LLC

Website

https://musicproinsurance.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

MusicPro Insurance Agency LLC is a privately held US insurance agency founded in 2000 and co-owned by ASCAP and SterlingRisk, specializing in instrument and equipment, studio liability, and special event liability coverage for music professionals via a self-service online platform with worldwide protection.

Ownership category

akta.pro rank

Headquarters

HQ city

Woodbury

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Marketing or Sales, Personnel, Technology or R&D, Others

Revenue model

1. Insurance Placement Fees and Commissions: MusicPro Insurance Agency receives fees and/or commissions directly for the placement of insurance coverages. They sometimes use other parties to aid in placement, and those third parties receive fees/commissions as is usual and customary. They may also receive contingent payments or extra commissions from some insurers based on overall performance with respect to growth, retention, and loss experience.
2. Annual Insurance Premiums: Customers pay annual premiums for instrument and equipment insurance coverage. Example shown: $175 annual premium for $3,200 estimated replacement value. Premiums are collected in full to activate coverage.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

MusicPro Insurance Agency LLC distributes specialty insurance products for musicians and the music industry, including instrument and equipment coverage, studio liability insurance, and special event liability. Policies are issued through A-rated carriers (Hanover Insurance Group and The Hartford) and offered via a fully self-service online platform with instant quoting, online application, digital payment, and 24/7 account management. The company aggregates music professionals into a group purchasing arrangement to negotiate lower premiums than individually underwritten policies.

Product overview

MusicPro Insurance Agency offers a suite of insurance products for music professionals. The core offerings include Standard and Classical Instrument & Equipment Insurance policies, which protect musical gear, recording equipment, and accessories worldwide. Add-on modules include Studio Liability Insurance for recording and music lesson studios, and Special Event Liability for short-term performances. The company also provides automatic coverage for borrowed or rented equipment. All policies are managed through a web-based platform with 24/7 self-service options for policy management.

Differentiator

Problem solved

Functional benefit

Products and services

• Standard Instrument & Equipment Insurance All-Risk insurance coverage designed for musicians who play, study, compose, or record music. Covers musical instruments, recording equipment, sound and lighting equipment, computer hardware/software, and miscellaneous accessories against fire, vandalism, theft, accidental breakage, water/flood damage, and earthquake damage worldwide. Pricing starts at $175 per year based on estimated replacement value, with a $100 per-claim deductible. Underwritten by Hanover Insurance Group (A-rated) since 2009.
• Classical Instrument & Equipment Insurance Specialized insurance tailored for orchestras, symphonies, chamber musicians, classical composers, and music educators. Covers classical instruments and related equipment against various perils worldwide, designed around the unique valuations and use cases of acoustic classical instruments. Pricing is quote-based and not publicly disclosed.
• Studio Liability Insurance

Quantifiable outcome

• Claims target turnaround of 24-48 hours from initiation to check in the mail
• +1 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

15 partnerships are on record, tiered core and minor.

• The Hanover Insurance GroupcoreOthers · 1 January 2009The Hanover Insurance Group is the underwriter for MusicPro's instrument and equipment insurance policies since 2009. It is an A-rated or better insurance company per A.M. Best. Hanover is available 24/7 to take initial claim reports at 1-800-628-0250.
• The HartfordminorOthersThe Hartford, one of the nation's largest and oldest insurance companies (A rated by A.M. Best Company), underwrites MusicPro's Studio Liability insurance program.
• BMI (Broadcast Music, Inc.)coreGTM or Marketing PartnerMajor music industry performing rights organization. MusicPro is endorsed or supported by BMI as part of their industry partnership network.
• SESACcoreGTM or Marketing PartnerMajor music industry performing rights organization. MusicPro is endorsed or supported by SESAC as part of their industry partnership network.
• NARAS (National Academy of Recording Arts and Sciences / Grammy)coreGTM or Marketing PartnerThe Recording Academy / Grammy organization. MusicPro is endorsed or supported by NARAS as part of their industry partnership network.
• AFM (Local 802): Associated Musicians of Greater New YorkcoreGTM or Marketing PartnerMajor musicians' union. MusicPro is endorsed or supported by AFM Local 802 as part of their industry partnership network.
• AFTRA/SAG-AFTRA: American Federation of Television and Radio ArtistsminorGTM or Marketing PartnerEntertainers' union. MusicPro is endorsed or supported by AFTRA as part of their industry partnership network.
• MENC: The National Association for Music EducationminorGTM or Marketing PartnerMusic education organization. MusicPro is endorsed or supported by MENC as part of their industry partnership network.
• Jazz Alliance InternationalminorGTM or Marketing PartnerJazz industry organization. MusicPro is endorsed or supported by Jazz Alliance International as part of their industry partnership network.
• CMJ (College Radio, Music Marathon)minorGTM or Marketing PartnerIndependent music promotion and education organization. MusicPro is endorsed or supported by CMJ as part of their industry partnership network.
• Folk Alliance InternationalminorGTM or Marketing PartnerFolk music industry organization. MusicPro is endorsed or supported by Folk Alliance as part of their industry partnership network.
• BandagominorOthersVan rental company for bands. Listed as an industry partner on MusicPro's About page.
• CD BabyminorOthersIndependent music distribution service. Listed as an industry partner on MusicPro's About page.
• Disc MakersminorOthersIndependent CD and DVD duplication service. Listed as an industry partner on MusicPro's About page.
• NimbitminorOthersMusic marketing and promotion platform. Listed as an industry partner on MusicPro's About page.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• The Hartford: A-rated carrier underwriting MusicPro's Studio Liability program. As one of the largest US commercial insurers with broad SMB and specialty capabilities, The Hartford represents both a critical relationship and the kind of scaled incumbent that could expand into vertical niches like MusicPro's.
• Chubb: Global specialty and high-net-worth personal property insurer with a Masterpiece fine arts and collectibles policy that overlaps MusicPro's high-value instrument coverage. Chubb's brand, scale, and A++ rating set the competitive benchmark for insuring valuable musical assets.
• The Hanover Insurance Group: A-rated carrier that underwrites MusicPro's core Standard and Classical Instrument policies since 2009. While a relationship partner rather than a direct competitor, Hanover's broader commercial and personal lines portfolio and claims infrastructure define the operational economics of MusicPro's primary product.
• Aon: Global insurance brokerage with deep specialty entertainment and music industry practices. Aon's scale, broker model, and dedicated entertainment division make it a relevant peer at the brokerage-and-specialty-segment level, even as its focus is broader than MusicPro's narrow vertical.

Emerging players

• Lemonade: AI-native digital insurance platform with strong brand recognition among younger consumers and creators. While not currently focused on music-professional instruments, Lemonade's mobile-first UX and behavioral-economics-driven model represent the digital-native threat that could rapidly enter the music vertical.

Direct peers

• Next Insurance: Digital-first SMB insurance agency offering fully online quote, bind, and policy management across multiple verticals. Its self-service, product-led growth motion closely mirrors MusicPro's distribution model, and it represents the digital-native competitive model MusicPro must defend against.
• Hagerty: Specialty insurer focused on collector vehicles and lifestyle assets, built around a passionate-owner community model similar to MusicPro's music-professional vertical. Hagerty demonstrates the scaled specialty-insurance playbook (community, endorsement, A-rated backing) MusicPro operates within.
• Sterling & Sterling (SterlingRisk): Co-founder and parent of MusicPro Insurance Agency, SterlingRisk is a national insurance brokerage operating for over 75 years. It shares MusicPro's insurance-agency business model and serves as the licensing vehicle in states where MusicPro is not directly licensed, making it the most directly comparable operating peer.
• Markel Insurance: Specialty insurer with deep programs in entertainment, music, and event-related coverage. Markel writes music industry policies and event liability products that overlap with MusicPro's instrument and special event liability offerings, making it a directly comparable specialty carrier.
• Hiscox Insurance: Specialty insurer focused on small businesses and creative professionals, offering tailored coverage for freelancers, artists, and niche professional segments. Hiscox's vertical-specialty model and emphasis on high-value equipment coverage make it a direct functional peer to MusicPro.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/MusicProInsure
• Facebookfacebook.com/MusicProInsurance
• LinkedInlinkedin.com/company/musicproinsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Musicpro Insurance Agency