Insurance, Damage & Loss
What could go wrong?
We bring fine art into our homes, offices, and businesses because of the exquisite feelings it gives us. Art can evoke feelings of joy, bittersweet sadness, and reflection among many others. This painting shown above would have only evoked one feeling - loss - if it hadn’t recently been properly appraised and insured. We have to hope for the best, but prepare for the worst.
FAQs
Does my art collection need insurance? If you want your art covered for loss and damage it must be scheduled on an insurance policy.
What does art insurance cover? Art insurance covers loss and damage.
Suppose my insured art is damaged or lost. What do I do then? If your art is lost or damaged call your insurance agent or company to file a claim.
Is art insurance expensive? No! Art insurance runs about $0.75 per $1,000. of value.
What should I do with art damaged by fire or smoke? Art damaged by smoke or fire should be reported to your insurance company ASAP.
How should I handle my damage-loss insurance claim? Talk with your adjuster who is handling your claim.
Who can properly repair or restore my damaged art? Call Kathy for more information.
My art appraisal is about five years old. When should it be updated? Your appraisal should be updated when there is a significant change in the market. Call Kathy for more information.
What kind of appraisal does my insurance company want? Inurance companies like to know the value before the loss, cost to repair the loss, and what the value is after the damage is repaired. My ASA appraisals are accepted by all insurance agencies.
Can you estimate the cost to have my art repaired or restored? Call Kathy for more information.
Are your art appraisals accepted by all insurance companies? Yes.
If you have a question that wasn't answered above, please call.