Insuring Art

[Karloff]

For those who own art pieces, have you insured them? If so, which company do you use?

We have Geico for our cars, and a smaller, local company called Assurant (which is actually a property agency one hires through Geico) for our home. We currently opted for the $40K limit for our possessions (mostly due to electronics and work related equipment I have at home and that can be costly to replace), but this does not include art or similar collectible pieces. We requested a separate, art-specific policy. We completed the requisite forms and we sent that along with images, receipts, scans, proof of purchase, etc. This was 10 days ago and we still have not heard back from them. Frustrating and discouraging. I'd like to take my business somewhere else.

Options from the big companies (State Farm, All State, etc.) don't seem to be available, though.

Our pieces are not that valuable (+/- $14K). One is a Dalí etching from 1968, another one a Dalí lithograph (both hand-signed) and we also have an original Peter Max and some minor pieces. I am mostly interested in insuring the Dalí pieces against theft, accidents and damage. Anybody here have experience with this subject?

 

[REWahoo]

I don't insure our artwork, choosing to store them on our refrigerator instead.

Kidding aside, I thought all homeowner insurers offered Personal Articles Floater policies. We had one for years through USAA.

 

[HFWR]

No "art" worth insuring, though I'd miss Miss November...

 

[Karloff]

I don't insure our artwork, choosing to store them on our refrigerator instead.

Kidding aside, I thought all homeowner insurers offered Personal Articles Floater policies. We had one for years through USAA.

Yes, that is exactly what we requested and were offered by our current insurance company. We sent all the paperwork out, but have not heard back from them. They do not guarantee insurance of this sort of item, either. I'll contact USAA and see what they have to offer. How was your experience with them?

 

[REWahoo]

I'll contact USAA and see what they have to offer. How was your experience with them?

Excellent. They have insured our houses and cars for more than 40 years.

 

[DeborahB]

How do you insure hand-made jewelry? I have a lot of jewelry I bought from artists - mostly sterling silver with non-precious stones - but it wasn't inexpensive. I've been insuring it at what I paid for it but I can't figure out anyone who can appraise this stuff. It annoys me - and it's kind of like insuring art, the value isn't in the materials so much. TIA if you have any ideas.

I do have a floater for jewelry - but again, I think it has increased in value but can't prove it. And some of this I bought 30+ years ago.

As an artist (in a past time and hopefully soon again) most of the wall art is stuff I painted so I don't insure it.

 

[REWahoo]

How do you insure hand-made jewelry? I have a lot of jewelry I bought from artists - mostly sterling silver with non-precious stones - but it wasn't inexpensive. I've been insuring it at what I paid for it but I can't figure out anyone who can appraise this stuff. It annoys me - and it's kind of like insuring art, the value isn't in the materials so much. TIA if you have any ideas.

I do have a floater for jewelry - but again, I think it has increased in value but can't prove it. And some of this I bought 30+ years ago.

A reputable jewelry store (not someone behind the watch counter at Walmart ) should be able to give you info on how to get it appraised.

 

[W2R]

For those who own art pieces, have you insured them? If so, which company do you use?

I love art but I only buy cheap art, so I do not insure it. I think the most I have spent on artwork is around $150.

Buying cheap art is an underrated experience. It is easy to buy expensive art that I love, no searching required, really. But it is a lot more fun to search through all the junk shops, flea markets, and garage sales, all over town for months and months, looking for that one piece of cheap art that I really, really like. Or, at least that is more fun for me, maybe not for everyone. Anyhow, that is what I do.

 

[FIREd]

I have a USAA Valuable Personal Property insurance policy. It is meant to cover objects of particular value that may not be adequately covered under our home insurance or renter's insurance policies.