Fine Arts insurance provides protection against sources of direct physical loss or damage, except for the sources of loss that are specifically excluded. Items that are eligible for coverage include the following:
Insurance typically covers property while it is located in the United States and Canada and protection usually extends to exhibited property (excluding the premises of fair grounds or of any national or international exposition).
Fine Arts policies usually include a schedule (area for describing property) containing the following information:Fine Arts insurance does not cover:
Because of the nature of fine art and the special exposure to loss they represent, there are a number of conditions that must be met such as:
Documenting property value is important. It is the only way to secure the right amount of coverage. Documents such as bills of sale, receipts, or appraisals are often required. If an appraisal isn't provided, an insurance company may reject the request for coverage, or offer limited protection (such as a flat dollar amount or taking a discount for appreciation).
If you are not sure about how adequately your prized possessions are protected, discuss the matter with a Towne Insurance professional.
Let Towne Insurance help you find the right amount of coverage to suit your specific insurance needs.
Call us today at 800-486-4611 or contact us here.