Any item whose value is a function of age, style, artistic merit or collectible nature. We also include musical instruments, historical books, wine or modern designer furniture in our broad definition of fine art, antique and collectibles.
We manage fine art claims on a daily basis, so we know that there is not a single solution to obtain a successful outcome. It starts with having the appropriate conditions, and also relies on expertise, a broad network of specialists within the art world and importantly on listening to our customers’ specific circumstances.
Agreed value – individual item values can be agreed when the cover is taken out. No more discussion when a claim occurs.
Depreciation cover as standard – if an item is damaged it will not just be repaired, the cover also automatically includes payment for the loss of market value following repair or restoration.
Wider cover – all protection provided on an “all risks” basis up to the full amount insured. This means your cover is not limited to damage caused only by water, fire or theft.
Claims example: Our client’s cleaner inadvertently knocked a fragile sculpture over when dusting it down. It could unfortunately not be repaired. As the item was part of a set, the value of the remaining item was greatly diminished. We paid the full value of the pair of sculptures, as our client chose not to keep the single remaining item.
Your items are covered anywhere in the world, even when on loan or in the care of transporters, restorers or auction houses. And if you purchase a new item, it is automatically added to your policy from when you buy it – just tell us within 60 days.
Claims example: Whilst transporting his newly-acquired painting home from the auction-house, our client accidentally caused a tear in the canvas. With our “new acquisitions” cover, the picture was already insured – despite not having been added to the policy, and we paid the restoration costs as well as the resulting loss in market value.