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Sculptures and mixed-media pieces should be placed on stable surfaces. For outdoor sculptures, additional measures are necessary. For outdoor sculptures, additional measures are necessary. Ensure sculptures are anchored securely to their bases to withstand high winds or seismic activity.
I’ve seen martini glasses placed on a Donald Judd sculpture by unaware party guests. A sculpture shouldn’t be cleaned with all-purpose cleaning spray, for example. These types of valuations are not accepted. K: Scheduled coverage separately describes individual collectibles to be insured at a specific value.
Since Homeowners and Renters policies typically have dollar limits, specialized policies for coverage of art, antiques, or luxury goods (like that new Birkin bag!) Most standard policies will not provide this degree of specific coverage. Do you need to reevaluate your type of coverage to determine if it’s sufficient?
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.
The Fine Art Insurance policy offers coverage starting at $75,000, with careful consideration given to the potential maximum value of artwork. Furthermore, the transit coverage is deliberately set lower to discourage conservators from transporting art themselves.
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