Shipping of art always comes with a certain amount of risk, no matter how well you plan everything. That’s why you should take all emergencies into account and shield your financial and property interests with fine art transit insurance. What is it, and how does it help? Here is our brief introduction to this insurance policy type.
What’s the Problem with Regular Insurance?
Insuring art is a recommended procedure before any kind of transit, no matter how short and low-risk it is. However, the standard insurance plan is typically pegged to your object’s weight instead of its monetary value. Therefore, the coverage may be sufficient for regular items, but the compensation is by far not enough for high-end art and collectibles. Besides, even if you have art insurance for the full value of your artwork, which covers it “anywhere in the world,” it doesn’t actually mean your artwork is covered during transit. That’s why it makes sense to make arrangements for a specialized fine art transit insurance plan that may offer extended coverage and give you much more comprehensive protection.
What Does Fine Art Transit Insurance Cover?
Risks that art may encounter during transportation can be minimized with thorough, professional packaging and expert art handling. However, some issues can’t be anticipated. A transit insurance plan usually includes all of them, thus protecting you from:
- Theft and loss. The full value of your artwork will be recovered in case of its loss or theft from storage or during transit.
- Damaged packaging. If the art object’s packaging is damaged, it may be subject to the negative impact of UV light, temperature, and humidity. As a result, it may also be damaged, and the transit insurance will cover that damage.
- Accidental damage. Transit means that the artwork may change hands and move through many touchpoints. It may be shipped by road, sea, or air, and each of these stages comes with a unique set of damage risks.
As a rule, transit insurance is available for newly acquired art objects traveling to their owners, on-tour pieces that participate in moving exhibitions and ensure much travel, as well as art objects sent to their destination with any purpose. This insurance plan secures the objects from origin to destination, thus guaranteeing that your property is covered at every stage of its movement.
Always Choose an Insurance Plan According to Your Needs
Damage in transit happens, regardless of the robust safety measures taken by professional art shippers. That’s why having a special insurance plan for art transit may become your additional protection layer. This way, you won’t worry about the limits of the recoverable amount and the situations that the insurance plan covers. Contact Fine Art Shippers to learn more about this insurance and get one for your art objects.