We can help create a plan to safeguard unique and valuable items. We pay attention to detail when it comes to insuring these items. It's important to know how the policy will respond, who will carry out the repairs and whether you can receive a full value cash settlement in lieu of replacing an item without depreciation deductions.
Not only are the insurers we deal with the largest global insurers of privately owned artwork but they have also specifically drafted wordings to provide a broader level of cover to suit the requirements of sophisticated clients.
The following represent a few examples where their cover is greater than the standard internet offerings:
- Worldwide coverage for all assets
- Comprehensive cover – cover is for any property damage or loss due to ‘all risks’ including fire, theft, earthquake, flood (where specified) and breakage, almost anywhere in the world.
- Newly acquired items – insurers will cover newly acquired collectables, up to 25% of the value shown (subject to a maximum of $100,000) in the collections category in your schedule for 90 days. You can increase the sum insured if your collections cover is no longer adequate.
- Pair and set clause – you can choose whether to repair, replace or surrender undamaged items that are part of a pair or set when there is damage to an item in that set or pair.
- Market appreciation – your private collection can include appreciating assets – your insurance should be kept up to market value. If you have valuations of the items carried out with the last 12 months prior to the claim, cover is in place for up to 125% of the amount in your schedule.
If you are not receiving this level of service and would like to find out more about our cover and services, please contact our office. Phone: (02) 8458 0214 or email: email@example.com.