Category Archives: Artist Studio

Fire & Water, Devastates Artist’s Studio.

Commissioned Princeton University Artist’s studio destroyed by firemen’s overspray. Did her Artist studio policy cover her? No! and this is why.

She never bought one. If she did, all of her artwork in racks, stands, files, and on walls, is covered.  Her materials and tools are covered.  Even the reference library is covered.

I feel for artists that see financial hardship when there is a loss similar to this.

For $1,000 per year, your art is covered up to $100,000, not just in the studio but also in transit, at exhibitions and in storage, everywhere worldwide.

Follow our link at the bottom of this article and purchase an Artist studio policy today.

Art studios give artists the space they need to create as well as a way to store their completed works of art and sell art from the studio. Due to the nature of the work in an art studio, art studio insurance is essential. Risk exposures such as natural disasters and unexpected events like fire, flood, earthquakes, and storms, can cause extreme damage to the building and contents. Protect these risks by obtaining an artist insurance policy offered by Art Insurance Now / Bernard Fleischer & Sons Inc.

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Glass Artist Loses ‘Every Single Piece’ in Napa Valley wildfire; Our Exclusive Artist’s Insurance Policy Pays Off.

Napa Valley is typically a peaceful, relaxing place but not for Glass artist Clifford Rainey who lost his home, his studio and most of his work in the Atlas wildfire. The wildfires Fueled by powerful winds have scorched more than 200,000 acres including the beautiful homes of artists and collectors.

 

On Friday morning, Oct. 13, as Rainey surveyed the damage for the first time after his Mount George home and studio burned, said “Every single piece of artwork I own I’ve had since college was lost”.

 

Rainey’s life’s work is far from all lost. His work has exhibited extensively, featured in numerous public collections, including the Victoria and Albert Museum in London, the Corning Museum of Glass in Corning, New York, the M. H. de Young Memorial Museum in San Francisco, and the Los Angeles County Museum of Art, as well as in the permanent collections of the Museum of Arts & Design, New York, Museum of Fine Arts, Boston, the Irish Museum of Modern Art, Dublin, and the Montreal Museum of Fine Arts.

 

The emotional value cannot be replaced but having an artist’s policy to cover financial losses prevents having to start from zero. Our Artist Insurance Policy is designed for the active Artist. Your Art is covered while in the Studio, in Transit, while at Exhibitions and when in storage along with Your Materials, tools and reference library.  No more worrying about, Theft, Fire, Water Damage or Vandalism. These coverages and more are covered in our Artist Insurance Policies.

 

For more information or to discuss your particular situation contact me, William G. Fleischer CIC | Principal.  T: 212 566-1881 ext.111 or visit us at www.artinsurancenow.com to fill out a quick EZ application for a fast, free quote.

Artist’s Nightmare at the Museum

Museum in the dark pictureJust imagine, you are an artist without an Artist Insurance Policy and you finally get an exciting call from a museum to tell you that they have chosen your work for an exhibition for several months.  You work extremely hard on creating the exhibit and receive a contract from the museum that says they will insure your artwork while it is on display. A friend from out of town visits and you take them to see the exhibit and notice your prized sculpture in the exhibit is damaged. Immediately, you contact the museum and call for a plan of action; you ask to see the security footage and request more information about submitting the insurance claim. The museum seems uncooperative, explains to you the security cameras aren’t operating, there isn’t any evidence to support your claim the sculpture was damaged while on display and there is no insurance information they can provide for you at this time. You continue to push for an insurance claim, the museum continues to be evasive and you feel like you are getting nowhere. It looks as though the museum is not going to submit a claim on your behalf and the repairs will cost an enormous amount of money and numerous hours of your time.

This is a real-life insurance horror story from cases that the Philadelphia Volunteer Lawyers for the arts (PVLA) have heard over the years. Unsurprisingly, insurance disputes are a common occurrence with PVLA arts clients. The underinsurance of artwork presents artists with various problems which are much more commonly associated with their profession than others. Another unique problem with the underinsurance of artwork is with its valuation. Artwork is often not treated with the same financial diligence as other assets because it can be difficult to place a value on it and can cover a broad range of items including paintings, sculpture, architecture, printmaking, digital graphics, ceramics, collage, photography, statuary, textiles, art glass and other decorative items.

Insuring fine art presents challenges that are not encountered with other types of real property; an experienced art insurance broker like Bernard Fleischer & Sons (ArtInsuranceNow.com) can address these problems and provide an art insurance policy with coverage fitting the particular situation. Our artist insurance policy values your art at market value less a percentage. The policy covers your art anywhere in the world, while at exhibitions, galleries, storage and in the studio including transit, materials and tools. Art insurance buyers require the services of knowledgeable insurance professionals because “It’s a different type of insurance”. With most insurance you are just buying a financial promise, any insurer knows how to fix a roof or rebuild a building but with art insurance you are buying knowledge as well. Bernard Fleischer & Sons (ArtInsuranceNow.com) are leaders in appropriately insuring artists, art dealers, collectors, conservators, galleries and museums. For more information visit our website, call 1.800.921.1008 or fill out an application here.

Iconic Muhammad Ali print stolen from museum.

The Print, which was stolen while the museum was open to the public depicted Ali in a classic boxing pose painted in the brilliantly colored, expressionist style that LeRoy Neiman was known for. Brazen thieves ripped the print from the wall even with security cameras watching, It’s important to understand the value of art insurance and protect yourself by covering your valuable collection.

Although risk extends beyond theft (47 percent of art loss is attributed to damage during transit according to The New York Times) art trafficking is a very real thing and according to statistics ranks third behind drugs and arms.

In a case of  theft, the loss is irreversible. Not only the artwork is irreplaceable itself but also even the reputation of the organization suffers from a mere fact that such situation has occurred. Without having a comprehensive fine art collectors insurance from a trustworthy art insurance broker, the masterpieces are subjected to risk.

Apply for coverage here or call me if you have any questions or to discuss your options.

William G. Fleischer CIC | Principal
T: 212 566-1881 ext.111
E: wfleischer@bfbond.com
W: ArtInsuranceNow.com

 

 

Artist Studio Insurance “The Pitfalls”

Artist’s who work out of their home may think they have coverage with their Homeowner insurance company, but do they?

I get it, most artists have lofts, special rooms or detached structures where they create, show and sell their art.

The Limitation and Exclusion: Business personal property on premises.

Here is the simple 2 question test if the exclusion applies. If you answer yes, an Artist Insurance policy is recommended

  • Continuity of activity
  • Monetary gain (profit motive)

Homeowners Insurance Policies for Owners or Tenants are designed to protect you and your personal property.  These policies contain liability for trip and fall, house parties, lawsuits against you and members of the household for bodily injury or property damage to someone or their stuff.

 

The exclusions/limitations for a business in your home are very limited unless you take some measures to add back coverages.

The Homeowner Insurance Policies are very strict and are looking to avoid anything to do with a business in the home, unless they know about it and add special endorsements.

First, I would like to point out that any art, materials, books or paperwork stored in a detached structure, voids coverage for that structure unless it is added by endorsement to the policy.  If the “Art stuff” is in the home than it will not void the insurance coverage, but the limit for business property is usually $2,500.00 and work you created is not valued at retail price, but just materials.

Secondly, Liability is not covered by the Homeowner’s policy for anything to do with the business, if someone got hurt during a studio visit, the claim would be denied.

To somewhat fix this, add “other structures on the residence’s premises”, if the value exceeds the basic coverage on the current policy.  To protect you from trip and fall claims, add, “Permitted Incidental Occupancies”. Note the situation where you have more than $2,500 of personal property, you should be looking for an Artist carve out policy, like an Artist Studio Policy.

When it comes to the Liability, the homeowners have a few endorsements you could use, “Permitted Incidental Occupancies”, usually costing  $27.00 for $500,000 worth of coverage, but they have limitations, such as premises only, no additional insured’s and no products or completed operation coverage. It’s best to look for a carve-out policy for this too.  I recommend buying a separate Business owner’s policy for just simple fixtures since all the others should be insured in my program.

In conclusion:

Artist’s who create at home are better to have an Artist policy which evaluates the work using retail value, not materials cost.  An artist policy which includes, All works for sale, materials, tools, reference library, transportation, while in storage, at Exhibitions and worldwide; All the coverages loaded into my Artist Policy Program.

For more information visit us at www.artinsurancenow.com to fill out a quick EZ application for a fast, free quote.

To discuss your particular situation contact me,

William G Fleischer  CIC                                                                                             Principal                                                                                                                                  T: 212 566-1881 ext.111                                             wfleischer@bfbond.com

 

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

 

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