Fine Art & Collections Insurance - Navigator Insurance Brokers Ltd

Fine Art & Collections Insurance:

There are three types of Fine Art & Collections insurance coverage that offer protection for valuable goods: Title (Fine Art), Property (Fine Art & Collections) and Collections.

Title insurance insures against a defective title. For example, if the artwork was stolen or looted before you bought it rendering your title defective. Often an insurance company or division specializes in just title insurance. This type of insurance is important for high-value artworks that have passed through several owners or whose history is unclear.
Property insurance, on the other hand, is similar to homeowner's insurance as it insures against theft or damage. If you have a regular homeowner’s or renter’s insurance policy, you might be covered up to your policy limit per item minus a deductible. For valuable art, you probably need a separate add-on floater to specifically cover it, or you are insured with a policy similar to AXA's ArtPLUS Household plan that includes home insurance with specialist cover on valuables such as fine art.
If you are looking for insurance specific to valuable collections, insurers such as Hiscox offer Collections insurance with tailored cover ranging from art and photography to dolls and toys. Ideal for those looking for protection for their most precious collections.

If you have a significant piece or collection of art, however, you would likely be better served by a policy underwritten by separate fine art insurance company. Fine art insurance companies cover a wide range of art, from artworks to antiques and from personal art collections to museums and businesses, including the works of artists in their own studios.

Fine Art Cover:

Chubb

Chubb offers many types of insurance under their Fine Art & Valuable Goods (Specie) Insurance plan.

Fine Art, Jewellery and Collections Insurance
Corporate Collection Insurance
Fine Art Dealers and Galleries Insurance
Private Collection Insurance
Jewellers Block Insurance
Valuable Goods (Specie) Insurance

Fine Art, Jewellery and Collections Insurance - includes:

All risks of physical loss or damage on premises and in transit worldwide
Fire, Flood, Accidental damage, Natural Catastrophe, Transits, Other locations, New acquisitions
Excludes (but can be purchased back)
- Repair & restoration, Terrorism, Outside safe limit for jewellery
Excluding absolutely - War, Radioactive contamination, Nationalisation, Confiscation, Infidelity of directors

Policy Highlights:

Worldwide cover for Art and Jewellery
Up to US$250m capacity
Repair and conservation
Loss of market value after a claim
Newly acquired items

Documents:

No documents found

Zurich

Zurich offers a similar plan to that of Chubb with their Fine Art and Specie Insurance plan. It provides much broader and comprehensive cover when compared to standard household insurance policies.

Fine Art and Specie Insurance - includes:

Exhibition cover including transits to and from
Exhibition cancellation cover
Defective title cover
Liability to third parties
Loss of value and depreciation

Documents:

No documents found

Fine Art & Property Cover:

AXA

AXA offers Fine Art protection through their ArtPLUS Household Insurance plan. ArtPLUS specialises in cover designed for high value homes that need bespoke and extensive insurance coverage. This includes cover for art and collectibles, jewellery and watches, general contents and personal belongings.

ArtPLUS Household Insurance - includes:

High single item limit for collections and jewellery
- Basic cover: HK$50,000 per item
Automatic cover for newly acquired items
- Cover will increase by up to 30% to acommodate new purchases
Pair and Set - Full Payment
- When an item belonging to a pair or set is damaged, you will be able to claim for the full pair or set
Lack of, or Defective, Title
- Covers the cost of purchase and legal costs up to 10% of the amount insured
- Maximum of HK$250,000 per claim
Cover for theft by domestic employees

Policy Highlights:

Worldwide cover - with free-of-charge transit cover (not exceeding 90 consecutive days)
Water leak cover - damaged buildings, fixtures, fittings - e.g. bathtub or marble floor
Alternative accommodation (up to 1 year) - when caused by an insured accident
Cover for electronic devices

Documents:

No documents found

Collections Cover:

Hiscox

Hiscox offers protection for valuable collections through their Collections Insurance plan. Due to the plan's specificity, a wide range of collectable categories is available to choose from.

Collection Insurance - sub-categories includes:

Art and photography
Stamps
Pop and sport
Automobilia
Books
Dolls and toys
Clocks
Porcelain, china, glass
Militaria
Statues and sculpture
Antique furniture
Arms and armour

Policy Highlights:

No requirement to itemise collection
Only pay for the cover you need
Collections under £250,000 accepted instantly

Documents:

No documents found