Whatever the reason for collecting art may be, aesthetic or financial, one thing is a given, it must be insured. Art holds significant value, so it would be best if it is insured for the highest possible worth too. And it is imperative when your art is in somebody else’s hands — when moving, for example. Many things can go wrong when moving art; it may get damaged, stolen, or even lost. So, if this life event is approaching, do not try to cut corners thinking everything will be just fine. You need insurance. Therefore, here is all you need to know about fine art moving insurance.
What Types of Objects Can Be Insured?
You can insure pretty much any piece of art you have in your home. It can be made of precious stones or metals, or even from everyday materials like wood, clay, stone, or even paper. Besides art pieces and sculptures, you can also insure antique furniture, coins, etc. Moreover, the things you want to insure do not have to be old and extremely expensive nor something from today’s top collectible artists. Quite the contrary, they can be works of living artists or something you are emotionally attached to.
In short, fine art pieces that you should definitely insure are those unique pieces that are impossible to replace, pieces that you often lend to museums, collections whose value would increasingly drop if just one of the pieces would get damaged, or pieces that are just too old and fragile. It’s simple. There is fine art moving insurance for any art piece in your home.
What Does the Fine Art Moving Insurance Cover?
The things your insurance covers, of course, depend on the insurance company itself. In general, all insurance companies take complete responsibility and claim that they will cover all risks. However, there are always some coverage exclusions. For instance, if your fine art gets damaged during the move because of fire, flood, or another natural disaster, you will get full compensation. Or, if your pieces get stolen or lost, the insuring company will take all the responsibility too. But, if there is a war, or if you are keeping your pieces in a storage unit with moths and vermin, you will probably not get your money back. So, when choosing an insurance company, be sure to ask the insuring agent about all scenarios they do and do not cover.
How do the Insurers Value the Fine Art Pieces?
Another question you should ask your insuring agent is how are fine art pieces valued. This can be pretty subjective, and it will, once again, depend on your insurance company. If you want to get the exact prices and answers to all of your questions, it would be best to contact the company and ask for an estimate. They will be more than happy to do it. Or simply ask your art agent if you have one. But, in general, the value of your fine art pieces will depend on the following aspects:
- Purchase price
- The item’s value in the time of the damage/loss
- Declared value
- Replacement cost
You may be surprised at the prices when you first hear or see them, but do not let that scare you. Insuring fine art comes with a hefty price tag simply because those pieces are expensive themselves! Just think about it – how much money did you spend on a particular piece, or how much money will you need to pay if something goes wrong with your art?
How to Find A Reliable Fine Art Moving Insurer?
Finding somebody who will take full responsibility for your fine art is extremely hard. There are, of course, many insurance companies out there that deal with these kinds of things, just like there are companies that deal with buying and selling fine art, but you must make sure that the company you chose is reliable and high-principled.
The first thing you should do is ask various people for recommendations. These should be people you trust and those who have some experience dealing with art or, even better, moving it. If you cannot find anybody who can recommend an insurance company that will cover art during the moving process, turn to the Internet and do thorough research on the companies you find there. A background check is a must. Be sure to check the company’s website, social media, comments section, and what other people say about them on various forums. That is the only way you can find a reliable fine art moving insurer.
What Will Your Job Be?
Fine art moving insurers are there only if something goes wrong with your art. This means that everything else must be done either by you or by a moving company. The cheapest option will be to have a DIY kind of relocation. But keep in mind that this kind of relocation will consume a lot of your time, energy, nerves, and ultimately, money. Not to mention that it will be a lot more complex and stressful. On the other hand, hiring professional movers will be more expensive. But, with their professional help, you will be sure that your fine art pieces will arrive at your new address intact and ready to enjoy in their new home.
If you opt for the second option, be sure to find the best moving and the most reliable moving company out there. It should not be just any moving company, but one that specializes in moving fine art. Those professionals are the only ones who know how to properly pack and prepare any art piece for your upcoming relocation. After all, while fine art moving insurance will compensate for any damages, it’s in your best interest to do your best to prevent anything from happening in the first place.
Author Bio: Angela Simmons has been working for Simplify Valet Storage & Moving. She specializes in moving art pieces and similar specialty items. In her free time, Angela also enjoys going to museums and art galleries. She is a wife, a mother of two, and a cat owner.
