Art insurance- Important Areas to Consider when Insuring Art

January 04, 2013

When insuring art work or any specialist collection it is imperative to source comprehensive and specialist insurance cover. At Macbeth we only offer policies of the highest quality and our panel of bespoke insurers understand the discerning nature of our private clients.


Most standard policies lack sufficient flexibility and width of cover, therefore we have access to underwriters who understand these needs and who are prepared to offer flexible solutions. Furthermore, our experience in this area of the market enables us to provide guidance on the correct level of cover required and where appropriate, to arrange surveys and valuations. This enables us to tailor cover to every individual’s needs and lifestyle but above all, to provide complete peace of mind with the minimum of formalities.

The main areas of cover to consider are:

All Risks insurance coverage – this ensures cover for perils such as accidental damage are covered as standard.

 Loss in value – should a one off piece such as a painting be damaged, our insurers will offer to not only repair the item but also to ensure that you are compensated for the subsequent loss in value.

 New purchases –  are automatically covered for up to 20% of the current sum insured under most of our policies. So you can rest assured that any impulse buys will be automatically covered.

 Death of artist – it is often the case that the value of art increases dramatically upon the death of an artist, as demand soars. Our specialist panel of insurers will automatically increase the cover by up to 100%, for six months following the death, to reflect the increased market value.

Warranty free wordings – a warranty is a condition of a policy that you must adhere to for a claim to be honoured by an insurer. For example, a common feature of a standard insurance policy is a “security warranty” which would state that all exit doors and windows would have to be closed and locked with approved devices for a claim, such as a burglary, to be paid. As you might expect, our insurers do not enforce such terms, accepting that anyone is capable of leaving a window slightly open or forgetting to set an alarm.


For further information, contact Carl Sharp, Client Manager on 0118 9165 487 or complete an enquiry form.


*Information correct as of 1st May 2016

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