All art owners hope that everything will go well during the process of fine arts shipping. They hire professionals to handle the task and take all precautions needed to increase the level of safety. However, even with so many measures put in place, emergencies happen, and you should be adequately prepared to address this situation correctly. Here is a quick guide to maximizing the chances of a successful shipping insurance claim processing and the common challenges art owners may encounter along the way.

Challenges with Claim Processing You Should Anticipate

Filing a claim is not as easy and smooth as you might think when paying for the insurance premium. Unfortunately, even with a comprehensive policy, you may face many challenges. The most common problem is undervaluation – a situation when the insurer disputes the artwork’s value in an effort to reduce the compensation. Another unexpected issue is your case falling under policy exclusions. Such a situation is very unpleasant, and to avoid it, you should always read the fine print and study the terms. 

Many art owners come across delayed claim processing, which may be a bureaucratic problem of the insurance company. If the delay crosses all reasonable limits, you will need to escalate the claim to your state’s insurance commissioner. Finally, disputed repairs are the issue that may cause disagreement between the owner and the insurer. You may believe the repairs will result in the loss of market value and want to insist on the total loss settlement, but, unfortunately, this is not always possible, especially with art transit insurance.

How to Make Your Claim a Success?

While damage claims may turn into a headache for any art owner, you may take some steps to maximize your chances for a timely, successful settlement.

• Always maintain updated records. Conduct your art collection’s regular appraisals (at least, every 3 years) and store these records in a digital format to access them from any location.
• Create a detailed inventory of the collection. Document each art piece with photos, videos, and relevant documentation to have the full details and current condition reports at your disposal.
• Read the insurance policy inside out. Understand all the terms and exclusions from the policy to make sure it covers specific risks you’re interested in. When selecting an insurance policy, it's also essential to carefully consider the deductible amount.

Enjoy Flawless Fine Arts Shipping with Fine Art Shippers

If you want the fine art shipping process to go smoothly and without problems, Fine Art Shippers is ready to help you. Our expert teams take proper care of every detail to guarantee the highest level of safety. Contact us to learn the terms and enjoy a risk-free art delivery process that will help you avoid time-consuming and nerve-wrecking claims.