Category Archives: Fine Art

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

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, 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 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

Art Insurance, Artist Insurance, Fine Art, Uncategorized

How Important is my advice

I have been in the insurance business for over 35 years. The experience and situations I have encountered are many. When it comes to protecting your Assets, there are many variables which one must consider. Not all policies have the same terms and conditions.

Possible Exclusions are many, Earthquake, Flood, Named storms, Mold, Water, Theft from premises. Terrorism, other than Named locations, while in Transit, etc.

Conditional: vary too. Alarm warranties, Shipping, and packaging, Schedules, Unscheduled, appraisals. Notifications for removal from storage, vaults, when loaned at exhibitions, travel outside the continental USA. reporting form,

Valuations: variables are, Agreed amount, Appraisal value, percentage less sale price, percentage plus consignment, Onus of Proof.

Sub-limits: Bouillon, Jewelry, Electronics

Territory restriction, World wide, continental USA,

Deductibles: $1,000, 2,500, 5,000, 25,000, 100,000

Payment Plans: Direct Bill< Credit Card, Wire transfer, Check and Cash.

Insurance Company: Admitted. Non-admitted, Risk Retention Group, Foreign, AM Best Ratings

The above are just a few items which are negotiated during the process.  I like to speak to all my customers to get a sense of what they situations are and how to protect them from a financial loss.

Not everything is ever covered by a policy, most can be.  I have found many different niches which companies give very good policies, service, and prices.

Work with me and you can feel the importance of working with a human who can relate to your Insurance exposures.

www.artinsurancenow.com

William G. Fleischer, CIC

President,

Bernard Fleischer & Sons, Inc.

http://www.artinsurancenow.com/

Comtemporary Art Insurance, Fine Art, Private Collectors and Corporate Collections

Corporate Collections Basics: Step 1

We at Bernard Fleischer & Sons, Inc  /Art Insurance Now, provides corporations and businesses with insurance coverage for their corporate fine art collections. This coverage protects the Art collection from physical loss or damage including breakage, vandalism, theft, and damage or loss while on display or in storage at company locations or warehouse while in transit and while on loan to institution, gallery or exhibition.

Coverage highlights include:

  • Competitive rates
  • Appraisal Option forms
  • Deductible options
  • Placement of insurance with “A” rated admitted carriers
  • Broad blanket coverage policy’s for large fine art collections
  • Certificates of Insurance issued as evidence of coverage
  • Premium payment options at no additional charge

Basic Fine Arts Coverage

Even our most basic coverage provides solid protection. It features:

  • Broad, worldwide protection
  • Scheduled or blanket limits for both owned collections and loaned items
  • Domestic and international transits

Enhanced Fine Arts Coverage

Most of the policies included extra or specific protection. These enhance the basic coverages in many ways like:

  • Registration Papers and Records
  • Special clauses for “Loss Buy Back” and “Pairs and Sets”
  • Furniture and Fixture, integral to the Fine Art display

To obtain a quotation, please provide the following:

Call now: William Fleischer CIC  212 566-1881 ext 111

APPLICATIONS:

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

Art Collector, Fine Art, Galleries, Museum Coverage

Travelers Fine art and museums policies

affiliate-travelers-logo-layout

Fine art and museums

Travelers understand the passion that people who manage collections have for their objects. They offer unparalleled coverage and services for our fine art customers, whether it is a cultural institution, a large corporate collection or the dealers and galleries who represent this industry.

As a U.S.-based insurer, their financial strength allows us to offer limits that meet the needs of small institutions and galleries as well as major accounts requirements. Our capabilities extend to managing domestically-based accounts with international exposures. They work with you on many aspects of your account – from the collections to the property that houses the art.

Collections

Broad fine art coverage is available for corporate collections of fine art, or for artwork and collectibles in commercial settings. A wide-ranging spectrum of paintings, sculptures, prints and multiples, and specialized collections of historical, cultural or technological significance can be insured.

  • Coverage is available at a permanent location, in transit or while loaned to others
  • Our agreed value fine art policy addresses the needs for that collection, while also making other important coverages available (e.g., breakage, pairs, and sets coverage, flood, and earthquake)

Museums

Museum coverage is available for a myriad of institutions such as those for art, history, natural history, sports, and science and technology. Large and small venues, educational facilities, regional collections and specialized institutions – such as aviation and automobile museums – are among our policyholders.

  • Integral coverage components include art at scheduled locations, on exhibition, in transit, or on loan to other organizations
  • We provide coverage options for museum-owned property or the property of others for which the policyholder is legally liable

Galleries

The diversity in the gallery community gives us the opportunity to personalize coverage and service offerings.

  • We work with you on your needs for specialized transit, art fairs, and exhibitions
  • We help you manage the risk exposures at your gallery and storage locations

Other associated businesses

We also work with specialized fine art shippers and operations that manage other components of this industry (e.g., art handling, crating, storage).

Services

The Inland Marine Network has developed a circle of risk control consultants, and a claim team and theft investigators who are well-versed in the particulars of valuation and restoration issues that are so important to the overall mission of the fine art community. Risk Control works on management practices and location risk analysis. Our Claim team also has a group who specializes in art so they can fully support this industry. The Specialty Investigations Group helps in theft protection consultations and assists in theft recoveries.

For more information and a fast, free quote visit us at www.ArtInsuranceNow.com

Art Collector, Art transit Insurance, Collectibles, Fine Art, Private Collectors and Corporate Collections

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/