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UV-protective glass or acrylic can prevent sun damage, while airtight backing can help guard against moisture and pollutants. Ensure Comprehensive Documentation & Appraisals Regularly update appraisals every 3 years to ensure proper valuation in case of loss or damage.
I’ve seen martini glasses placed on a Donald Judd sculpture by unaware party guests. These types of valuations are not accepted. B: When considering insurance, what is the difference between Blanket and Scheduled insurance coverage for collectibles? Be sure to give specific instructions about the art not to touch/clean.
A provider evaluates the risk, provides a quote, issues coverage, and, in the event of a covered loss, pays the coverage set forth in the policy. Of the two, the “All-Risk” policy usually provides broader coverage for a homeowner. In the event of any covered loss, a deductible will be applied.
Your insurance agent has suggested that you need your art or jewelry appraised in order to put them under rider coverage. The standards include the need for the appraiser to have no financial interest in the outcome of the valuation. There are many reasons you might need an appraisal of personal property.
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