Art Insurance: The Protection Your Valuable Possessions Deserve

Art Insurance The Protection Your Valuable Possessions Deserve

Shipping art or sending it for long-term storage is a decision connected with many potential risks and emergencies, regardless of the quality and reliability of the service provider you’re choosing. Anything can happen in transit, and your task is to protect your valuable property against those emergencies to ensure your financial loss compensation. That’s what art insurance can do for you, and here are the main points it will take care of.

What Options Will Your Art Insurance Offer?

Some artwork owners opt for universal insurance terms, but when it comes to exclusive fine art, there are some options you can choose from. It’s important to know the terms and terminology so that you get the best conditions and don’t overpay for the services you don’t need. You should double-check the following art insurance aspects before signing the contract.

Coverage Options

You may choose from the list of risks your insurance policy will cover, such as theft, damage, loss, etc. Some policy options are more suitable for transit, while others meet the art owners’ needs during long-term storage or even at-home storage. If you want to insure your artwork from all hazards, the “all risks” option will be optimal, and if you have specific risks in mind and want to reduce the cost of insurance, you may pick the “named perils” option and name the risks.

Policy Exclusions

Please make sure you check the policy exclusions, as the insurer naturally wants to secure itself from covering the risks beyond their influence. In most cases, exclusions refer to the natural deterioration of the artwork’s condition, its wear and tear (if it’s still used in some way, like antique furniture), and damage resulting from improper storage.


The way your insurer treats deductibles is a good way for you to save some money on the policy. As a rule, a larger sum of deductibles – the sum you should pay right away before the insurance policy starts acting – reduces the sum of premiums you will need to pay throughout the policy’s action. So, it’s up to you to decide whether to pay more right away and reduce a premium or pay less now but produce larger premium payments later.

Location-restrained Insurance

You may pay less for the insurance if you specify the locations where the policy acts. Those who don’t intend to move their artworks or send them to international exhibitions may insure their home or office facility as locations for artwork storage.

Keep these aspects in mind when discussing the art insurance with your broker, and you’re sure to get the best terms for the policy.