Fine Art Insurance Cover Explained

7 Feb

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Get art due to the fact you like it and because it moves you, and due to the fact it enhances your life

Owning an art collection or even a single painting is a life extended journey. We are merely the temporary custodians of the art for the next generation to appreciate.

But sometime the basic act of protecting our artwork is overlooked, especially for novice collectors. Creating certain you have insurance and arranging the correct type of cover is extremely important.

How to Arrange Insurance For Your Individual Paining or Collection:

The fine art insurance marketplace is a specialist and fairly restricted market place so it really is important to use an insurance expert who understands the policy cover and most importantly can clarify any exclusions or warranties that might apply to your policy.

An “off the shelf” home insurance policy will not supply the cover your art deserves – these types of policies are made for a regular property and contents and rarely extend to a higher single post limit.

There are a quantity of specialist insurance businesses who insure artwork and give tailored cover for your paintings. Artwork can consist of paintings, sculptures, antique furnishings, ceramics, engravings and glassware. Some of the bespoke fine art insurance rewards contain:

Automatic increase in value following death of artist
Partial loss cover which pays the cost of restoration and any residual depreciation in value.
Defective Title
Art loss register

Nonetheless contrary to what several think, arranging art insurance need to have not come with an pricey cost tag.

Insurance can be arranged in conjunction with your current home insurance by taking out a separate specialist art insurance cover, or you can combine your fine art insurance with a residence insurance policy.

Each options need to be deemed dependent upon the value of your collection and your existing house insurance arrangements.

Further Measures to Guard your Fine Art:

When your fine art insurance has been arranged, you should take into account your personal precautions to minimise the prospective for creating the dreaded fine art insurance claim.

Some basic methods can be place in place to safeguard your fine art:

Maintain the piece out of direct sunlight
Never ever hang your art over an open fireplace
Keep valuable pieces away from visible windows
Employ a specialist to hang your art
Make positive you have smoke detectors
Contemplate a revaluation of your art each and every 3 – 5 years
If the artist dies the worth of your art will enhance – at this stage think about a revaluation

If you would like some impartial and confidential suggestions on arranging fine art insurance from a (established 1989) speak to our Fine art insurance group at Greenfield Insurance Services on 01489 579808

An artist is not paid for his labour but for his vision. James McNeill Whistler – Artist

8 Responses to “Fine Art Insurance Cover Explained”

  1. Tana January 22, 2013 at 2:58 am #

    HI am 16 and lately i’ve been gettin migraines more frequently, i am frustrated of these now, i actually do mma, and lots of running, but would you reckon its putting to much stress on my mind, i stay well hydrated also. ive tryed taking pain relievers but that does not appear to assist, so what can i actually do ?x

  2. Sabrina February 26, 2013 at 2:46 pm #

    Ok, i need help quick! I am 29yrs old 2 kids. Almost 2 years ago when i was about 5-6 months pregnant, it started having shoulder pain in the morning, or when i would go to grab something, I would have a severe pain shoot through my arm. It feels like my arm is separating from my shoulder! Not soon after, I started having stiffness and pain in fingers(the joints) when I would wake up. I told my OBGYN. They said it might be a little tendinitis in my shoulder due me being a bartender and always pulling things.the pain and stiffness in my fingers poss, dehydration,or retaining H2o. In any case, my dr. said there is not ne they could do at that point of my preg, and it would probably go away after the baby was born, NOT the CASE!!!. Well I lost my job, am currently getting unemployment! so I lost my ins. The pain in my fingers has moved to my hands, wrist, and my feet., I mostly experience the worst symptoms in the morning or after times of rest. right before i lost my INS, I had went to my Primary DR. explained my symptoms, he came back possibly RA. He order some Initial blood work to see how things were. Every thing came back fine. He instructed me to see a RA DR. I got my initial visit, b4 i lost my ins, the dr said, from my symptoms and just from looking at the swelling in the joints of my fingers it probably was RA. Which It can appear for no reason at all in preg women. Dr also explained that some of the initial blood work that is done, does not show RA. She Had ordered Xrays , and more Blood work to get me going on a regiment and see what was going on. i NEVER got that far.. I was let go from my job, and my husband, added me to his INS, but there was a waiting period, in which he lost his job!! I applied for medicaid for us, my children and my husband were accepted I was denied!!! Still trying to figure this one ought!!! 8 months later, i am almost to the point were i dont leave the house for days at a time, always have a pain issue of some sort. Severe fatigue.i can sleep all night and most of the day and still be tired. I have also noticed a loss of short term memory and concentration, (dont know if that has ne thing to do with it) Sorry to pour my issues out.! But long story short I need Medical ATTN now, Is there ne services or ne thing that will help me. We are VERY short, take that back have NO money… what do i do? I feel like a 90 year women…. YIKES!!!
    As regards to the medicaid denial. I have no clue why I was denied, they have something wrong, my husband was accepted, I was denied for household income too high, we both are recieving unemployment, in which is is higher, so I dont understand. I have reapplied, called a million times, still they have something wrong with my app. See I have 2 children, 1 of which is not from my husband, for some reason they have i recieve child support, becuase there is a court order. BUT my sons father does not pay, they could look it up with the IRS to see that it is not paid. Im guessing that this is the issue, If you have ever delt with medicaid, its so stressfull, and time consuming. I have been trying to get medicaid for almost 2 years. My husband didnt even want it, but when I notified them of his layoff, thinking that this would def make me elgible, he gets a medicaid card in the mail.
    Thank u , every one that has responded to my question. I have def ruled out post partum depression, the pain, and stiffness is growing everyday.
    I cry everyday, Im scared of what is going on with me. I have a list of pains and allmints, sometimes, I wonder if I’m going crazy. Everyday I complain of a different pain. I used to be very athletic,and alot of fun. Now, I sleep more then I am awake. I feel no one believes me how much pain I’m in. Or how serious this is. most people think oh arthritis, u no alittle pain and stiffness,. NO , I cant move my fingers in the mornings. my arms feel like they seperate from my shoulders, kinda like there is nothing holding to each other. And to have no medical treatment makes everything worse. Will I ever feel better, or feel like myself? I have lost interest in everything. I havent really told many people about the RA, because most of the friends and family are not knowledgeable of the disease, so i basically just keep it inside.. I just want treatment, before its too late.

  3. Darrell May 10, 2013 at 12:14 am #

    The apartment has two rooms. The building has four floors and its exterior is Stucco.

  4. Anderson June 1, 2013 at 7:50 am #

    sorry for the length…My daughter is 9 years old now and her father has custody ever since she was 5. her father initially accused my uncle of horrible stuff (this was the basis of it all) that was investigated and thrown out. then he accused other family members and my bf, that was investigated and thrown out. so then cases were closed and the judge gave him temp cust pending the outcome of psychological evaluations. the judge says because the allegations were so serious and not proven it would only be right to throw the whole case out but not until she rules out everything, “for the child’s safety and best interests of the child” (what if he was a murderer or something you know). so she ordered my daughter be ripped out of school and home and away from everything she’s ever known PENDING the outcome of such investigations…i had 20 days to do this. i thought fine we can get this done in less than 2 weeks…did some calling around just to find out that this would cost around 3,000 dollars and is not covered by insurance because it is court ordered :,( how does one do this in 20 days?) long story short i asked around and asked for help even tried fundraisers for her cause and 20 days passed and i fell apart. i quit my job, isolated myself, and here i am 4 yrs later. the sudden loss was first embarrassing how to explain to friends and other mother HS friends of mine? HOW? and who would believe that story? they would just think i lost her for other reasons. since then i’ve sought out legal advice several times, finally taking my attorney;s advice and try to get the case back in court, he kept filing more and more motions so things would get confused and my attorney gave up…i guess she felt the way i did like it WAS joke t legal system. i got another attorney who was 3500 dollars to retain. Got the psych eval (which came out perfect OF COURSE) paid 1500 for that and 500 just to release the report to counsel and i have an 11000 dollar debt to 1st attorney and about a 10000 dollar debt to current attorney. my daughter is still not back. she misses me tremendously and thats what hurts the most. the whole thing has turned in his favor he wants child support and i feel like i have been bamboozled its hard to keep things together and live daily life, but i keep on. they live about 1h 10 min away and when i try seeing her he’s always busy or not available. he acts like i’m this wonderful person, sort of like a Jekyll and hyde thing doesnt talk about court and his reasonings for this are “you know why” i left his parents house where we lived when she was 3 mos old, i couldn’t deal with the abuse is this why? i raised her on my own with help of family and friends but primarily on my own. and not to be stereotypical but for a single mother i did welll she had everything she needed AND most of what she wanted, we were a team, she was my immediate motivation, life is bland now my friends with kids are enjoying there lives i have nothing to relate to. i have no other children, just my angel face, u should’ve witnessed the pain of seeing lunch pails and toys and clothes and toothbrushes and school art work and such just no little girl. idk but…please help? btw i am an educated woman with a pretty good job, i make ruffly 30k but that can change any day it hurts

  5. Trina July 21, 2013 at 9:16 am #

    My MA dissertation was on US foreign Policy and China’s growing superpower status. I would like to have this dissertation published. What steps must I take???

  6. Toby July 22, 2013 at 1:07 am #

    I’m a self taught artist and i want to work in the art industry. I have a BA in Communications but no art degree. I wouldn’t mind being a receptionist in a art gallery or museum but there doesn’t seem to be any opportunities on line for my city. So I thought about going the old fashion route and mailing resumes. Should I make the resume colorful , instead of the Manila version? Should write a cover letter explaining my passion for art due to the fact that I have never worked in a artistic atmosphere before? My professional background is in the Insurance industry and I have done some retail work but I’m looking for a career change. I’m a little intimidate the only knowledge of the art world i have is what i have taught myself from books , videos etc. Your help in my job search is much appreciated. Thank you.

  7. Silvia August 22, 2013 at 11:30 am #

    I’ve owned a home, but this is my first condo so not sure what differences I need to take in consideration…

    I was told insurance was included in the homeowner dues. I need to find out what type exactly. I know it’s not earthquake insurance. It’s a 2nd floor condo so no flood ins is needed, but what would be the type of insurance I need for a condo?
    this is a new construction if that makes any difference…

  8. Kerry August 27, 2013 at 11:05 am #

    I moved in with my widowed Father after a difficult divorce, with my children. The old house wasn’t big enough for us, but I had some capital realised in the sale of my previous home so organised some alterations. The estimate was within budget – with 10% added for unforeseen extras – so we went ahead.
    Now we have a problem. The final bill is £13 000 above the estimate.
    I could raise a mortgage, to cover the bill and allow a little for finishing touches, but my 89 year old Father is on the deeds (with me) and will need to sign – he will be so afraid of being thrown on the street, it might make him very ill – especially as a solicitor has to tell him about the risk before he signs (will explain he might lose his home). However, the bill would be paid and we would have money left to be safe and comfortable. Fixed repayment is easily within our budget at the moment and I could probably raise the amount (at a push) if made redundant. I would be mortgage free in 10 years, with a few years left before I retire, to save for a happy retirement.
    However, the mortgage insurance is fixed at almost as much as the mortgage payment! Therefore, I would have no option (as I couldn’t cover both) but to do without the mortgage insurance. If I was given notice at work, I would have to sell quickly in order to purchase a much cheaper and smaller property – using savings to keep the mortgage going until we sold.
    The house is in a beautiful place, being the family home for many years. With the extensions and alterations, it would quickly attract a buyer (though we would obviously not get its true value). My father has already indicated he doesn’t mind what we do, as long as we are all together with our own home (when we discussed whether to extend or move).
    I could take out an unsecured loan of £10000 and make up the rest from savings, but the repayment is variable rate and would be at least £200 per month to begin with and might grow outside my disposable income (which is pitifully small). The outstanding £3,000 would be made up of joint savings, taking away any chance of comfort or safety. We may not be able to keep my father as warm as he likes in the winter, or buy his favourite (cheap) treats. That’s no way to live at 89.
    I work full time with “extended hours” and can’t take on a second job. I have no partner and two dependent children. My father has a very small pension.
    I need the money quickly, to pay the builders. They have been paid the sum of the estimate and as we have only had minor changes, I anticipated a final bill of £5,000 or £6,000 at the most (which I could meet by “topping up” an existing loan which has a lowish rate – it would cost about the same as the mortgage). They didn’t supply any details of costs or estimates after the initial paperwork (although I often asked what they would charge, they would reply, oh, not much).
    My job is about 50% secure at full time. It is 90% unlikely to disappear but my hours may be reduced after Christmas, which is why I hesitate to go for a mortgage (plus the effect it may have on my father). I have skills I can use to raise money on an hourly rate to pay back a loan, but the risk is really scary.
    What do you advise? Or, is there another alternative that I haven’t considered?
    I don’t smoke, or drink regularly, or have huge credit card bills, or have a car worth more than £700. I don’t own jewellery or art or antiques. I don’t holiday abroad or wear anything but cheap clothes. One of my children has serious health issues (another reason we extended, as she is likely to become wheelchair dependent at some point).
    I took a risk which I thought was fine, but circumstances (with my job and builders’ costs) have changed. I want to take on the responsibility to put it right, but cannot take on a second job – I work from 8 to 6 and overtime two hours a night (or at weekend). By the time I’ve done this and the house, I’m exhausted. Stress is making me underachieve at work, which is so counterproductive!

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