Insuring art is necessary to protect against loss. Most homeowner's insurance provides a general coverage on all items including your art. If it is of modest value this type of coverage may be sufficient, but if art is valuable or the collection extensive, consider talking to an insurance agent about specific coverage.
When insuring art keep records of its value and condition. It is unreasonable to expect insurance to fix art that has been neglected. Ask about what the insurance will and will not cover. Consider the things most likely to happen and find out if they are covered and have them fully explained. A short list of the most common causes of damage: falling off a wall; smoke or water damage from a fire or leak; dropped, bumped or punctured; shipping or moving.
We have worked with many insurance companies and the majority of problems arise when art is damaged to the extent that it cannot be currently valued. This occurs when art is insured under a general household policy and is in bad condition prior to being damaged. Consider all your insurance options and make sure it is in writing. Verbal commitments may not be remembered when a claim occurs, creating further problems and an unsatisfactory settlement.
INSURANCE