Art Insurance in the UK: How Best To Protect Your Collection
Whether you have a piece of art requiring insurance or a collection of art, you should consider covering it/them within a UK specialist home contents art insurance policy. The mass market insurers are wary of covering such items which, in turn, means that the cover they offer is likely to be inadequate and consequently the claims settlement less than satisfactory.The high value home contents paintings insurance schemes offer significant benefits to those owning art of significant value or perhaps a collection of paintings that adorn your distinctive home.
For example, you can have included on some high value home contents fine art insurance policies, at no extra charge, insurance for art that you buy during the active period of insurance that turns out to have "defective title". This means that you have bought a piece of art in good faith but that it turns out to have been stolen from its rightful owner, somewhere along the chain, and it has to be returned to that owner.
Also, at no extra charge, the specialist home art insurances will include "death of an artist" cover. It is often the case that the value of art increases dramatically upon the death of an artist as demand soars. Specialist art insurance will increase the cover by up to100%, for six months following the death, to reflect the increased market value.
Finally, if a painting or piece of art is partially damaged, the standard home contents insurance contracts will only pay for the cost of the repairs or restoration. The specialist high value home insurance contract will also pay insurance claims for the resulting loss of market value of the art.
To learn more about UK specialist art insurance for your paintings within a specialist home insurance policy please call Geoff Moss on 01242 699113
