If you possess some fine art and paintings that you have managed to collect and if you are thinking of exhibiting them, then it would be prudent to take the appropriate high value home insurance cover.
After all, regardless of how safely these works of fine art are kept and maintained, some percentage of risk with regard to their security is inevitable. You need to ensure that you try and cover all possible risks and taking high value home insurance that has a provision covering such fine art is the way to go.
Now it is a common observation that many people lucky to own high value fine art often cover them under the general and all sweeping home insurance policy. Now that is a good thing on its own.
It is always better to have some policy coverage than none at all. It all makes for dealing with one company for any issues or claims a much easier proposition. You may also get certain other benefits from the insurance service provider when you take a policy that is all encompassing and is therefore much higher in sum value of items that are going to be insured.
But when it comes to piece of fine art or painting, there is another thought process that you should consider. You should look to insure them under a separate art insurance policy. You will find that there are many benefits specific to such policies which you can avail of.
These by themselves can easily outweigh or more than compensate for whatever extra premium amount you would have to pay for a separate policy of this kind and delinking it from the general high value home insurance policy.
The advantage of such a separate art policy is that it would cover all collectibles and art that you possess and you will get the services of specialist appraisers as well as insurance experts who would be able to put down all options on the table before you including rare exclusion benefits.
It is however recommended that you get a thorough appraisal done by experts before hand itself to get an idea of the true value of all your fine art as well as collectibles. The value would help you decide if a separate cover would be right for you.
Moreover, it is always appropriate that you know the inherent value of all your fine art and collectibles as that would help you decide on the cover you want – either under general high value home insurance or through an exclusive fine art cover.
Getting this appraisal of your fine art done also benefits you from the point of view of how high value home insurance companies and other specialist insurers look at such values. Remember that prices of such items do keep fluctuating and when you are able to show the insurance company that you have done the last appraisal within the last couple of years, you are more than likely to get a good deal from the company by way of lower premium rates.
Jim Smith is a UK based finance specialist who blogs about carious insurance topics including high value home insurance. Please visit his preferred website Flint Insurance
Take Care Of Your Fine Art Through Proper Insurance
