Category Archives: Art Collector

Mom and Dad Lend Art Collection to Family members or Institutions

Lately, I have been receiving requests to insure living trust assets that are at various family members homes.

Usually, I write a one-shot transit policy from the parents home to the new locations. I have been able to insure the Art collection maintaining the control of ownership.

Most Insurance policies exclude or limit property of others in the Care, Custody, and Control of the Named Insured.

By working with the variables, I satisfy estate attorneys concern of not properly covering these assets while they are still in trust or in preparation to be gifted.

Complete the Collectors Application for a quote. http://www.artinsurancenow.com/

Super Storm Sandy

This storm was amazing.  The art Galleries I insured all had flood coverage and none suffered financial loss from the Art.

The capacity is still there, just have to ask for the coverage where in the past, it was thrown in.  Most Personal Collectors policy have no exclusions for flood, some have for earthquake. I like to show the exclusions on my proposals to keep everyone in the know.

For insurance coverage for Flood or Named Storm, complete an application at ArtInsuranceNow.com

Protecting your Paintings

I have been issuing Fine Art Insurance policies for many collectors who recently purchased work for their collection. The prices range from $280.00 up to $500, I have been including the transit coverage from the gallery to the home.

I even wrote one from Italy to Washington, no deductible. It’s also important, to include the frame, under the description part of the policy. If this is not written in the schedule description, then only the work will be covered.

This is a little fine line, I just discovered. I am always watching out for the benefit of the collector, it’s all about properly insuring, knowing your exclusions, hedge your financial downside and most of all, enjoying the Art. www.artinsurancenow.com