Art insurance is essential for protecting precious art pieces during transportation. Anything can go wrong, from careless handling to extreme temperatures, so it’s always best to take extra precautions so as not to lose hefty sums of money. This particularly concerns rare, antique, and expensive art pieces that have cultural value. Art transport insurance may be equally useful for large museums, private collectors, and individual owners of valuable items. But is it always necessary?
What Does Fine Art Insurance Cover?
To begin with, you need to decide whether your piece of art is something that can be covered by insurance companies targeting art owners. Here are the objects that art transit insurance usually covers:
- Paintings
- Sculptures
- Antique furniture
- Historical artifacts
- Ceramics
- Rare books
However, every insurance company has its specialization and list of covered items. So, it’s always better to request additional information. The prices may vary depending on the value of the item to be shipped, location, policy type, and security measures.
When to Purchase Insurance?
Art insurance is a must for high-value artworks, particularly those that are frequently loaned, exhibited, and transported. The same is true for items shipped internationally, especially when they are transported for public exhibitions. For such high-value art pieces, there are particularly strict insurance rules that can vary from country to country. Items with disputed provenance and ownership history may be difficult to insure for international shipping, as there are risks of seizure that will result in long legal battles.
It may also be wise to assess the potential risks specific to your case. For example, if you have a small oil painting that needs to be transported within one city, the risks are minimal. The condition of the art piece should also be the decisive factor. Fragile, extremely old items are more at risk of accidental damage and, therefore, must be insured.
What to Expect from Art Transport Insurance?
Insurance companies often provide a list of exemptions that specifies what risks are not included. For example, improper packing that leads to damage is not always covered. It is important to understand that art transport insurance cannot ensure safety during transportation. To minimize the risks of damage, you need to choose shipping companies that specialize in art transportation and have the necessary equipment and well-trained personnel to do the job. The easiest approach to shipping would be to find a company responsible for both safe packaging and insuring your items during transportation.