ImageArt Insurance - Buy Fine Art Insurance from Top Companies in India
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Advantages of Art Insurance

Comprehensive Cover

An art insurance policy provides a comprehensive cover with coverage of risks including physical damage, loss due to theft, accidents, and a wide range of natural perils to artwork, such as floods and earthquake.

Fire And Allied Perils Cover

Fine arts insurance covers damage to art pieces due to fire, lightning, riots and strikes. You can also include protection against aircraft or vehicle impact, explosion and terrorism, by paying an additional premium.

Transit Cover

Art insurance covers physical damage to valuable artwork during transportation. For instance, even though the art piece is well packed, it can get damaged due to vibrations or shocks whilst in transit.

Customised Policy

You have the flexibility to design the policy according to your requirement. For instance, partial loss due to scratches or impact damage can be covered. Add-ons like exhibition coverage can also be introduced.

Benefits of Art Insurance

Cover Accidental Damages

  • Fine art insurance covers accidental damage to artwork. This is a major benefit because accidental damage commonly occurs during public exhibitions or transportation of artwork.
  • It offers cover against damage to the art piece due to exposure to liquids and damaging gases.
  • Physical loss during domestic or international shipping is also covered under artwork policy.

All Risks Cover

  • Art insurance policy covers loss or damage caused by fire, lightning strike and natural catastrophes like storm, tempest and flood. Riots, strikes and malicious damage are also covered.
  • The policy also reimburses losses and damages due to burglary, theft, and defective title.
  • Loss due to employee dishonesty can also be covered under artwork insurance.

Financial Protection

  • Fine art insurance provides security to art pieces, antique furniture and statues by providing cost of repair of property which can get damaged due to various types of risk.
  • Artwork insurance will also pay if the art gets damaged during handling and improper packaging.
  • It offers a financial cushion to your business, which may get impacted due to such uncertain events.

Frequently Asked Questions

Fine art insurance covers all types of accidental physical loss and damage to the art piece including damage or loss due to natural calamities like flood, storm and earthquake. This policy covers total or partial loss due to scratches, breakage, or impact damage that may happen to the art. Coverage for theft, burglary and terrorism is also offered under the policy.
Fine art insurance is offered either on agreed value basis or on the ‘basis of valuation’ agreed. Private collectors who have a limited collection, which stays more or less the same over a period of time, should prefer ‘Agreed Value’ basis. Art dealers should prefer cost price plus a certain percentage which is also called appraised value or uplift of value of art-piece every year.
There are various add-ons available under art insurance plans such as automatic reinstatement, cover for exhibition, replacement of keys and locks, temporary storage costs, and terrorism cover. All these extensions can be included under the policy, by paying marginally extra premium amount.
Generally, loss or damage to the artwork due to wear and tear, gradual deterioration, rust and oxidation are not covered in the policy. Mechanical or electrical breakdown and consequential loss are also excluded. Insurance for artwork will also not cover any damage due to war, invasion, nuclear contamination and chemical contamination.


What does “Wall to Wall basis” mean in Art Insurance?

Statues, antique furniture, fine art, musical instruments and other important collectibles are classified as assets. If you are a corporate collector, individual collector, fine art dealers, antique dealers or if you have museums or hold art exhibitions, it makes sense to go with art insurance to provide comprehensive protection...
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What is covered under art insurance?

Art has become a profitable investment in modern times. It is high on price and is a long term investment. Art can also be stolen or destroyed, which makes it important to insure your art. Since art is not covered under home insurance, you need to purchase a specific art insurance policy. Whether you display your high priced art possessions...
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How is the Art Valued for Art Insurance?

It is important to have an up-to-date valuation of your artwork to ensure you are fully covered in the event of a claim. Factors such as artist, market value, date becomes important when art is valued for art insurance. Ways in which different categories of art is valued for Art insurance

Insured own artwork: Insured own property...

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