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Category Archives: Galerest Insurance
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:
Artist Insurance Policies include Studio, Exhibition and Transit protection.
Everything has a connection and a direction. It all started one day while I was riding my Trek road bike on a 70-mile ride on the back roads of Piermont NY. I always pass a sign which read: Open studio visits and Gallery. As I passed by I decided to stop and check it out. The driveway hill was an 11.5% grade, not fun on the bike but “Art” cheered me on!
I was met by “The Art Student League” Artist in residence program director Gary L. Sussman. Many cyclists ride by, but it seems very few stop by, especially Art Insurance Consultants.
The Artists residence grounds are amazing. As I approached, I saw many buildings, a big barn, studio spaces and very nice living quarters. Mr. Sussman explained to me the artist residency program which is pretty comprehensive. 100% of the artists are on full scholarship, no worries of cost, so they can fully focus on the creative process and the artistic energy to experiment and make amazing ART.
I explained to Sussman, a New Insurance program I had developed just for Artists, an Artist Transit/Exhibition/Studio Insurance Program that insures the finished art piece, percentage of finished in the process of a new piece of Art, while the artwork is at Exhibitions and while in transit, along with libraries and materials.
I further explained to him, what the nicest part about this policy is, there is no schedule, list, or inventory required of values at the time of placing the insurance but is required at the time of loss to prove what the current value is because the settlement is based on current market value minus 30%. To establish the value at loss time, the artist would substantiate the claim by using previous sales, time and materials to create, photos and other tools which would justify the claim.
The key points of the policy are no schedule, the flexibility to have work made then displayed, Insuring work while in the studio, storage, transit and art shows. These Include materials, reference libraries, and tools.
For more information about this innovative policy and a fast free quote, contact us at www.artinsurancenow.com, fill out an application here or call us at 1.800.921.1008
William G. Fleischer, CIC
President
Bernard Fleischer and Sons
29 Broadway, Suite 1511
New York NY 10006
212 566-1881 ext 111
wfleischer@bfbond.com
ArtInsurancenow.com
APPLICATIONS:
Recent Success Stories
Recently, I received an email from a new Art Gallery in Texas. She and the partner have been in the prereferral part of the art business. Their experiences were in promotion and advertisement of Artist. A few years past, they had an opportunity to open a pop-up gallery selling prints, Paintings and non-fragile sculptures in a busy section of Galveston. They were at the stage of having the first show in a permanent location; this is when, they turned to me, for their Art Insurance needs. I was able to secure a great Fine Art Insurance policy for $1,300. This covered $50,000 on location, unnamed locations and $20,000 transit.
So I rode into the sunset feeling good about the terms, cost and turnaround time, for my new client.
Call me Anytime 212 566-1881 ext 111 for ART Gallery Insurance
www.artInsuranceNow.com for applications