Today, works of art are considered a profitable investments. Indeed, they are expensive and constitute a long-term investment. However, their allure also means they can be stolen. Or they might be inadvertently destroyed. Thus, it is important to insure your art. Your art collection may also be of much greater value than you think. That […]
Articles Tagged: Art Insurance Policy
Filing an art insurance claim
Art insurance refers to insurance cover for artworks. Such insurance can come in handy if your art collection is stolen or damaged. In this article, we’ll get to know about the process of filing a claim under Art Insurance. Art insurance is becoming increasingly popular among collectors due to several reasons. First, the value of […]
Who can purchase Art Insurance?
Anyone can purchase Art Insurance, who has an insurable interest in the piece of art such as a sculpture, painting, or print. Insurable interest of the insurance buyer simply means that as a consequence of damage to the insured art, the person paying for the insurance will suffer a monetary loss. Insurable interest of an […]
What does not cover under Art Insurance?
Art insurance secures the most precious work created by an artist against financial damage. The coverage is applicable for all of the insured perils or risks. The following risk does not cover in art insurance: Art insurance does not cover loss to the insured article due to the aging of its intrinsic material. Loss to […]
How is the Art Valued for Art Insurance?
It is important to have an up-to-date valuation of your artwork to ensure provide you full coverage in the event of a claim. Factors such as artist, market value, and date become important when art is valued for art insurance. Ways in which different categories of art are valued for Art insurance: Insured own artwork: […]