How To

Fine Art Insurance

The art and antique dealer requires appropriate levels of insurance protection from unforeseen events. And many renowned dealers stack up art pieces that have historic importance and relevance. An art piece once damaged loses its value therefore finding the right insurance coverage is critical. Protecting the pieces while on exhibition and during domestic and foreign transit is important as well as any art held in storage, at the restorers, or at a clients on approval. Owned art is insured at either cost plus a percentage or selling price less a percentage. Consigned art pieces are insured at an agreed value plus a percentage and items sold but not delivered are insured based upon the selling price plus expenses which have accrued from the date of sale. An insurance application is required to individually underwrite and ensure tailored coverage.

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