insurance

This page considers art insurance and protection for other collectibles.

It covers -

• introduction
• the business
• appraisals
• insuring the irreplaceable?

     introduction

Collectibles may rise or fall in value but owners face some costs regarding storage, insurance and even conservation.

Insurance companies typically request appraisals every one to three years on works valued at over US$75,000. Some collectors of major works seek appraisals more frequently, for example every six months, because of market volatility and exposure to damage through loan to institutions.

A typical policy may provide 150% of the nominal value to reflect appreciation, with the cost of that insurance often being around US$1.20 per US$1,000 insured value.

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