Category Archives: Art Collector

Art Collector, Art transit Insurance, Auction Houses, Comtemporary Art Insurance, Fine Art

Insuring art work in transit to auction houses

Recently with all the Auction houses in full mode, I have been receiving many phone calls concerning artwork in transit.

The main movement of Art and Collectibles are going to the Auction houses. Most of the time, Individual’s would send the auction house information about the work, and if acceptable, the burden of insurance falls on the collector to get the work to the Auction house.

Most collectors who sell through auction houses, don’t think about coverage while it is at the Auction house.  Many Auction houses charge very high rates for this coverage , which in many circumstances are included in my design of the policy.

Granted, you can buy a one-way art or collectibles transit policy that stops once the work is received, or you can think beyond and purchase a policy which at times include insurance coverage while shipping to Auction Houses, Galleries, Storage, and framers.

Complete my form for collectors, and let’s figure out an Art Insurance program which fits your style.

William G. Fleischer, CIC

www.ArtInsuranceNow.com

Art Collector, Art Insurance, Artist Insurance, Comtemporary Art Insurance, Fine Art, Jewelry, Photographs, Private Collectors and Corporate Collections

Use UCC filings when you Cosign your Art to a Dealer.

Recently, while I was discussing art with an attorney, UCC filings came up.   Usually, this is filed when you take out a business or personal loans and the lender to protect its collateral files the UCC with the state.

It’s an inexpensive file, which is used to notify the state you are a lender and have claim to the object corresponding to the UCC.

So I always tell everyone when you lend for sale your Art, to always have an expiration of consignment, in case the other party gets in financial difficulties the asset reverts to you at the end of the consignment date.

But now adding the UCC you attach yourself to the asset so any court can recognize you are in line to be paid if the art is sold.

An interesting layer of protection from an unstable partnership.

 

William

www.artinsurancenow.com

Antique, Art Collector, Art Insurance, Insurance Companies, Zurich Private Clients

Art and Antiques Specialist Risk Management Advice

Because I am always receiving all sorts of art related information I have decided to share some excerpts.

This is from a Zurich informational flyer.  Its a helpful flyer breaking down various aspect’s, like:

Understand how to Assess the risk, climate control for fine arts and Antiques,  placement of rugs and carpets away from fireplaces. The flyer gets into special care for paintings, moving art, security advice and professional valuations and photographs.   it’s worth a quick read.

Click here for an application to insure your Art and antiques.

William G. Fleischer, CIC

President

29 Broadway, Suite 1511

New York NY 10006

212 566-1881 ext. 111

Email: wfleischer@bfbond.com

www.ArtInsuranceNow.com

Art Collector, Art Dealer, Transit

Is Art insured in the belly of a Plane

Yes, items can be checked into luggage and still be covered, but this is not the best way to ensure coverage under this policy because you will be violating the packing warranty. 

The packing warranty is broad enough that it allows the Insured to pack the items, but still must be packed “utilizing procedures and materials to protect the Covered Property.” 

What does this mean?  It means you can pack a wood carved 12” dish into your luggage, but you cannot insure a Tiffany lamp wrapped in a sweatshirt.

If the item is of art or cultural importance, the country of origin may seize the property.  This policy does not cover any Governmental Action.

Fill out a collectors application for a quote today.

 

Action Figures, Advertising Memorabilia, American Collectors Insurance, Animation Art, Antique, Antique Cars, Antique Furniture Dealers, Art Collector, Art Glass, Art transit Insurance, Bad weather and Art, what to do!, Books and Maps, Brass Antiques, coins, Coins and Bullion, Collectable dinnerware/stemware, Collectibles, Collector Plates, Collectors quilt, Comic Books, Comtemporary Art Insurance, Die Cast, Dolls, Figurines, Fine Art, Guns, Homeowners vs Fine ARt Policy, Jukeboxes, Militaria, Model Trains and Sets, Ornaments, Photographs, Pottery, Prints, Rare Books, Sculpture, Sports Memorabilia, Stamps, Stamps, Teddy Bears, Trading Cards, Wood Antiques

How is your Art being Insured?

Every day, I am helping to insure art collections.  art collections, Gun Collections, Rug Collections, Rare Books Collection, Prehistoric Art collections, Samurai Swords, Bibles,

In the past few days, I have insured rare books, Bibles, Photographs, Manuscripts Antique guns, and furniture. click here for applications

Your homeowner’s policy excludes perils like Roof leaking, wind-driven rain, back up of sewers and drains, Breakage, transit Loss of Value due to a loss.

Most fine art policies have these coverages included. If there is something which is valuable to you and your family, I can insure it.

Call Me 800-921-1008

William G. Fleischer, CIC
President
29 Broadway, Suite 1511
New York NY 10006
T. 212 566-1881 ext 111
F. 212 566-1615
wfleischer@bfbond.com
www.ArtInsuranceNow.com

Art Collector, Art Dealer, Art Gallery Insurance, Art Insurance, Artist Insurance, Artist Studio, Auction Houses, Galerest Insurance, Museum Coverage

Insurance for Art Galleries

Our customized insurance policies are geared toward your typical Art Galleries, Museums, Exhibition space, and Dealer businesses.  We combine General Liability, Public Liability (Bodily Injury and Property Damage) into one straightforward policy along with non-salable contents, desks, chairs, computers, fixtures, racks and business property. Our policies can include landlords, curators, and artists as additionally insured.

 

Qualify for better pricing if you combine General Liability and Property Insurance into a Business-Owners Policy with Fine Arts Insured under a separate policy to maximize coverage while minimizing price.

 

A Business-Owners Policy includes: 

General Liability insurance coverage of an Art Gallery insurance policy is comparable to a typical commercial general liability policy, providing protection against claims of bodily injury or property damage for which your business may be liable.

General Liability means liability insurance for the cost of defending lawsuits stemming from:

  • Accidents which  cause bodily injury and/or property damage
  • Trip and Fall Incidents on premises.
  • Claims such as libel, slander, and False advertising
  • Errors or negligence from professional service is not covered by a General Liability Insurance policy. Must purchase a separate policy for this.
  • Business property insurance for physical assets, such as contents, improvements to your space including decorations and furnishings non-salable items.
  • Can cover loss of business income and extra expenses resulting from a covered loss.
  • Outdoor Sign
  • Insurance Money and Securities Insurance
  • Employee Dishonesty Insurance
  • Water Back-Up Insurance
  • Off Premises power failure

 

Broader coverage on a stand-alone fine art policy:  fine art while in the gallery, storage or while in transit,

 

The same type of coverages can be found in our Museum, Exhibition, Private Dealer, and Auction House insurance policies.

 

What is the average cost of Art Gallery Insurance? Premiums typically start around $600 but every art gallery has different requirements, property values, and coverage requirements. Prices will vary.

Please call William Fleischer, CIC at 212 566-1881 ext 111 or visit us at www.ArtInsuranceNow.com

 

APPLICATIONS:

Art Collector, Comtemporary Art Insurance, Fine Art, Uncategorized

Everyday I learn something New and fascinating – Intaglio.

Today I learned a new word. I was reviewing a schedule of fine art insurance and came across a word which I was not familiar, Intaglio Art.

Intaglio Art, what can this be? So off to the land of Google search, I came across the definition in Wikipedia;

Intaglio Example

Intaglio is a technique in art, in which an image is created by cutting, carving or engraving into a flat surface and may also refer to objects made using these techniques:

 

I then looked up some pictures and this stuff is really cool
We proudly insure this type of work. Let us insure yours, Visit us at www.artinsurancenow.com, call 1.800.921.1008

art insuranceLet me insure yours

www.artinsurancenow.com

 

 

APPLICATIONS:

• Art Dealers
• Artist Transit/Exhibition/Studio Insurance New Program
• Auctioneer
• Conservators/Restorers
• Corporate Collections
• Personal Collections
• Exhibitions
• Museum Collections
• Business Owners Liability

Art Collector, Art Insurance, Art transit Insurance, Claim Process, Comtemporary Art Insurance, Fine Art, Homeowners vs Fine ARt Policy, Private Collectors and Corporate Collections, Rare Books, Sculpture, Stamps, Uncategorized

Art Evaluation formulas you might see in an Art Collection Policy

Here are most of the current options found in an Art Collectors Insurance policy

1. Stated Amount based on an appraisal.
2. Market value or appraised value whichever is less.
3. Market value or appraised value. Maximum value 1.5% of appraisal value.
4. Market value – Onus of proof ( insured to prove value) up to policy limit.
5. Unscheduled Items: can be based on maximum value per item –Maximum Blanket limit- Onus of proof for valuation
6. Newly Acquired Property their cash value, but not more than 25% on similar type of policy.
7. Newly Acquired Property the lesser of 25% on similar type on policy or $10,000.
8. The cost of reasonably restoring that property to it condition immediately before the loss
9. The cost of replacing that property with a substantially identical property.
10. Property of Others in your Care, Custody, and control Maximum, based on the agreed amount prior to Loss 25% of Policy Limit,
11. Jointly Owned Property, value as stated in an agreement with the co-owner(s) up to the amount of your interest.
12. A loss to your Art Reference library, including books, catalogs and “data and Media” Settled at Actual Cash Value.

William
William G. Fleischer, CIC
President
29 Broadway, Suite 1511
New York NY 10006
212 566-1881 ext 111
wfleischer@bfbond.com
www.BFbond.com
www.ArtInsuranceNow.com

APPLICATIONS:

• Art Dealers
• Artist Transit/Exhibition/Studio Insurance New Program
• Auctioneers
• Conservators/Restorers
• Corporate Collections
• Personal Collections
• Exhibitions
• Museum Collections
• Business Owners Liability

Antique, Art Collector, Art Dealer, Art Gallery Insurance, Auction Houses, Collectibles, Old Masters, Private Collectors and Corporate Collections, Rare Books, Sculpture, Uncategorized, University libraries and collections

How to Insure Prehistoric Art properly.

Prehistoric Art is Art from Ancient Near East, Ancient Egyptian, Greek, Roman, Islamic Art, etc was created on many different types of Median, Ceramic, Gold, Silver, Tapestry, Bronze, wood, stone. etc. over the years these work of art have become scarce, fragile and valuable.

I am insuring a dealer in Indian Art who specializes in Prehistoric Art.  He reminded me that Long Island in NY had one of the largest concentrations of Arrowheads.

Addressing the Insurance coverage for those Art items which you care for, I have a very special understanding of the risk of damage, theft while in the home or in a Exhibitions.

Art Insurance policies are not all the same. Some are written through LLOYD S of London, AXA Art, Travelers Insurance Company to name a few players.  The Art Insurance company will include Transit by Sea, Air & Land. Coverage is usually extended to a Storage facility or the final destination.

To have these items insured, the underwriters in most cases will require a condition report if in long-term storage or if newly purchased, a bill of sale or appraisal.
Visit ArtinsuranceNow.com to complete the Collectors application to cover your prehistoric, Modern and contemporary art.

William

art insuranceart insurance  art insurance

 

APPLICATIONS:

• Art Dealers
• Artist Transit/Exhibition/Studio Insurance New Program
• Auctioneers
• Conservators/Restorers
• Corporate Collections
• Personal Collections
• Exhibitions
• Museum Collections
• Business Owners Liability

Antique, Art Collector, Art Insurance, Artist Insurance, Chubb Insurance, Collectibles, Comtemporary Art Insurance, Exhibtion Art Coverage, Fine Art, Firemans fund Insurance, Jewelry, Museum Coverage, Musical Intruments, Photographs, Private Collectors and Corporate Collections, Rare Books

What is Conversion exclusion in a fine art, Antique, Jewelry policy

The Story;

A collector or Museum consigns a work to a dealer to sell.  The dealer does his job and sells the work, but does not pay the Collector or Museum.  This is now considered a loss of property and if your current policy does not address this type of loss you may not have coverage.

Now if the consignment date has expired and the dealer is not willing to return the work, in many incidences this would be classified as theft and be covered by your fine arts policy.

For more information on Conversion Exclusion call us at 1.800.921.1008, visit our website at www.ArtInsuranceNow.com or fill out one of the applications below for a fast and easy quote.

APPLICATIONS:

• Art Dealers
• Artist Transit/Exhibition/Studio Insurance
• Auctioneers
• Conservators/Restorers
• Personal Collections
• Exhibitions
• Museum Collections
• Business Owners Liability