{"id":843,"date":"2017-11-06T11:00:26","date_gmt":"2017-11-06T16:00:26","guid":{"rendered":"http:\/\/artinsurancenow.com\/blog\/?p=843"},"modified":"2019-01-08T15:25:56","modified_gmt":"2019-01-08T20:25:56","slug":"art-insurance-for-collectors-schedule-vs-blanket","status":"publish","type":"post","link":"https:\/\/www.artinsurancenow.com\/blog\/art-insurance-for-collectors-schedule-vs-blanket\/","title":{"rendered":"Art Insurance for Collectors; Schedule vs. Blanket"},"content":{"rendered":"

The Art of Collecting Art.<\/h1>\n

There’s a big difference between buying art and collecting art. Buying art is more of a random activity based on likes, preferences or attractions at any given moment while collecting art is more of a purposeful, directed, long-term commitment. An important step in good collecting is not the most delightful one to talk about, but it is among the most necessary, and that is to plan for the unforeseen.<\/p>\n

As an art insurance broker, I readily come across collections that are an intricate part of retirement and inheritance planning.\u00a0 It\u2019s a great asset to pass down.\u00a0 Baby boomers bought artwork for the love of the art.\u00a0 Art as an investment vehicle was a small part of the decision-making, not like today which is the main focus.<\/p>\n

In the past 15 years as the art market sales and demand took off, Art purchased 40, 30 or even 10 years ago is worth a lot.\u00a0 Hence, I am seeing collector\u2019s policy limits rise into the millions. I will explain some key differences in the type of policy offered in today\u2019s marketplace. Art Insurance and collectible insurance demands are a new focus with some insurers. Beware, like the art world, no two are the same, read the exclusions, conditions and valuation clauses in a policy.<\/p>\n

Understand what schedule means and its limitations, some say the maximum they will pay is what is on the schedule or schedule plus 125% or 150% and then some added or market value whichever\u00a0is less. \u00a0A popular coverage is Blanket Insurance; usually, this is for the collection under $300,000. The advantage is that you are not required to supply the companies with appraisals, bill of sale or any other documentation when you bind the coverage.<\/p>\n

Only at the time of loss, the onus of proof of value is on the collector.\u00a0 This is not a lengthy process; either go back to your paperwork and ask for a current valuation from a dealer or show your work to a dealer and put the value in a letter. Both methods of either scheduling the art or using the blanket limit are tools I use when working with my clients.\u00a0 Each person looks at insurance in different ways and has different requirements. Let me work with you and answer all your questions to present a program which is satisfactory to all those involved.<\/p>\n

Visit us at ArtInsuranceNow.com,\u00a0<\/a>Apply below or Contact me at 800.921.1008 to discuss your unique situation.<\/p>\n

William G. Fleischer CIC<\/p>\n

 <\/p>\n

\"\"<\/a><\/p>\n

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\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

The Art of Collecting Art. There’s a big difference between buying art and collecting art. Buying art is more of a random activity based on likes, preferences or attractions at any given moment while collecting art is more of a purposeful, directed, long-term commitment. An important step in good collecting is not the most delightful … Continue reading Art Insurance for Collectors; Schedule vs. Blanket<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":9702,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"Art Insurance for Collectors; Schedule vs. Blanket","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[71,80,16,18,23,9,38,26],"tags":[146,173,111],"yoast_head":"\nArt Insurance for Collectors; Schedule vs. Blanket - Protecting Art Nationwide | Art Insurance for Artists, Galleries & Collectors from New York to California<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.artinsurancenow.com\/blog\/art-insurance-for-collectors-schedule-vs-blanket\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Art Insurance for Collectors; Schedule vs. Blanket - Protecting Art Nationwide | Art Insurance for Artists, Galleries & Collectors from New York to California\" \/>\n<meta property=\"og:description\" content=\"The Art of Collecting Art. 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