Fine Arts & Antiques Insurance

If you collect or own high value items, at HISL Brokers Limited we understand how precious and sentimental these can be, and that protecting them against financial losses can give you important peace of mind – which is where fine arts and antiques insurance comes in.

If you would like to know more about fine arts and antiques insurance, read on to find out how HISL Brokers Limited can help you to protect your valuable items with a policy.

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What is fine arts and antiques insurance?

Fine arts and antiques insurance helps to provide protection for any high value or collectable items that you own, in terms of physical loss, theft, accidental damage and repairs to damaged items. It is important to ensure that these items are properly valued, to ensure that you do not suffer a loss in the event of a claim.

Items that can be covered as part of a fine arts and antiques insurance policy can include fine art, antique furniture, rugs, glass, guns and precious metals, and a policy will also help to reflect the true value of your possessions and their storage.

What fine arts and antiques insurance covers

A fine arts insurance or antiques insurance policy can include cover for the following:

  • Worldwide ‘all risks’ cover: Provides cover for accidental loss and damage, including occasions when items are shipped abroad or temporarily loaned to a museum or exhibition.
  • Loss in value compensation: Provides cover in the event that an item is damaged, and will pay for repair costs and well as compensation for any subsequent reduction in value.
  • Automatic cover for new acquisitions: Provides cover as soon as you become the owner of a new item. 
  • Death of artist adjustment: Following an artist’s death and to reflect the increased market value of their work, your cover will be automatically increased by up to 100% for six months.
  • Pair or set replacement: If you lose an item in a pair or set, you will receive the full replacement cost as long as you return the remaining piece.
  • Emergency evacuation cover: If your items need to be transported to a new location as a result of a fire or flood, this will cover the costs. 
  • Defective title: Provides cover in the event that another person makes a claim of ownership against an item that you have invested in. 

 

These are just examples of some of the types of fine arts and antiques insurance covers that we can arrange at HISL Brokers Limited. As we know that no two individuals are the same, speak to us today to find out which policies will best meet your needs.

Do I need fine arts and antiques insurance?

If you are a private owner or collector of high value or collectable items, fine arts and antiques insurance can help to provide you with the protection that you need in the event that things go wrong. As some items will be unable to be replaced like for like in the event that they are damaged or lost, a fine art insurance or antiques insurance policy will enable you to receive the exact amount listed in your policy documents and either replace the item with something similar, or you may prefer to keep the full cash settlement instead. 

Without a fine arts and antiques insurance policy in place, would you be able to foot the bill if a precious item had to be replaced?

The cost of fine arts and antiques insurance

As with all types of insurance, the premium that you will pay for your fine arts and antiques insurance depends on the level of cover that you need and any optional extras that you choose to add to your policy.

When considering the amount of cover that you need for your valuable assets, it’s important to think about the total cost to reinstate or replace these on an equal basis in the event of any potential loss. Remember, if the worst were to happen and you have under-insured, you could be left out of pocket.

At HISL Brokers Limited we understand that cost is important to you, but it is crucial to ensure that you are properly protected in line with the risks you face. With that in mind, we will take the time to understand your specific needs and recommend the amount of cover that is best suited to you.

What else do I need to know about fine arts and antiques insurance?

In order for a claim to be paid, some fine arts and antiques insurance policies specify that the doors and windows to the premises/storage facility where the items are located must be locked – which is something important to be aware of.

How can I get fine arts and antiques insurance?

HISL Brokers Limited have a team of specialist advisers ready to help you get the right protection in place for your fine arts and antiques.  

We will take the time to understand your specific needs and are committed to delivering a completely personalised service, ensuring that you have the best possible cover at the best possible price.

To find out how much peace of mind costs, contact Paul Kerner by calling: (0)20 7220 9020.