A contractor was hired to repair water damage at a Sparta N.J. Township home, he was just arrested charged with theft and burglary of a $240,000 collection.
The contractor snatched art and Rare Comic Books, valued at more than $239,000, from Joseph Quesada, Marvel Comics’ chief creative officer and former editor-in-chief.
Authorities said Quesada hired a contractor as a handyman earlier this year, and asked him to repair damage caused by a burst water pipe. But the handyman had other ideas, he covered the property’s security cameras with towels, then he moved himself and his girlfriend into Quesada’s house.
Soon after, a friend called Quesada to ask why he was selling a portrait of his wife. Quesada didn’t know what his friend was talking about, but he did recall he kept that specific portrait in Sparta.
Fearing the home had been burglarized; Quesada and his wife went to the house and found their art collection missing, including original comic book art. This is where a separate Fine Art Collectible Policy makes the difference.
Theft by a person you entrust with your property is covered by the AXA Fine Art Collectible Policy, Are you covered for any fraudulent, dishonest, or criminal act or acts by employees, dog walkers, home attendants, contractors, or trusted individuals?
Contact us today to help insure your Valuable Fine Art and Collectibles.
Visit www.ArtInsuranceNow.com to learn more, apply here or feel free to contact William Fleischer, CIC at 1.800.921.1008
Collecting Art is fun, but maintaining values fluctuate a lot on an insurance policy. All homeowners policies where fine art is a part of the policy are written on a scheduled basis.
To add these artworks to your schedule, the company requires a current bill of sale or a current appraisal. The value is locked based on the schedule, good if the value goes down, bad if the values goes up.
Here is an endorsement which I feel the collector should consider when they are insuring an art collection.
It’s the Current Market Value 150. With this endorsement, the company will pay the amount shown on the Schedule for which the item is insured. However, if the market value of the itemized article immediately before the loss or damage exceeds the amount of itemized coverage for that article, we will pay its “current market value” immediately before the loss or damage up to 150% of the amount of the itemized coverage for that article. Of course, if the item market value decrease you will get less.
For a quote on Fine Art, Collectibles and objects of value click here for the collectors application on my website.
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
29 Broadway, Suite 1511
New York NY 10006
T. 212 566-1881 ext 111
F. 212 566-1615