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Fine Art Insurance 101

Fine Art Estates

Three Insurance Experts Explain the Intricacies of Insuring Your Art Collection I am often asked by clients if they should cover their art under their homeowner’s insurance (HO) or if they should investigate insuring their art with a separate fine art collectors’ policy.

Fine Art 130
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Insurance: Protecting Your Collection

Art Peritus

Desantis Should You Consider Insurance? Surprisingly, many collectors of “passion assets” don’t think to protect these valuables with insurance. However, in truth there is no “minimum value” to mandate insuring one’s treasured valuables and virtually ALL collections can benefit substantially from being insured.

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How To Determine If You Need An Art Appraisal

Art Appraisal Resources

Value matters and an art appraisal completed by a qualified art appraiser can save you substantial money by not selling too low, insuring too low, or paying too much in estate tax or equitable distribution. Insurance Purposes: Artwork can be a valuable asset, and it is essential to ensure that it is adequately insured.

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How To Find An Art Appraiser

Art Appraisal Resources

Art appraisals are a crucial step in determining the value of your art, whether for insurance, donation, resale, or estate planning. Different appraisers may have expertise in specific types of art, such as paintings, sculptures, or antiques. Entrusting this task to a qualified art appraiser is essential.

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Documenting Your Art Collection

Fine Art Estates

Most Fine Art Insurance professionals will agree that the best way to ensure that an insured loss is settled quickly and fairly is by properly documenting your art collection. If you carry a blanket policy and have a covered loss, it is likely that your insurance agent will have no information about the work in question beforehand.

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How Do I Get My Art Appraised?

Fine Art Estates

If your insurance provider has asked you to get your artwork professionally appraised, or you need it evaluated for some other reason, How Do I Get My Art Appraised will help you find a qualified appraiser, fully understand all aspects of the appraisal process, and prepare you for what a professional fine art appraisal is likely to cost.

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Understanding the Different Levels of Value: It’s Worth What Where and When?

Artifactual History Appraisal

An appraised value for insurance may be significantly higher than an appraised value for planned future sale, which can be baffling and difficult to comprehend without a familiarity with the different levels of the market. It can sometimes be present in insurance policies, although in my experience it is much less frequently encountered.