Insurance Manager carries many years of experience offering a wide variety of antiques and fine art insurance to commercial dealers. Our Private art collectors insurance packages are tailor made in order to include the individual insurance components that your business needs. We offer the best ways to protect your property, business, staff, stock and customers – and all at competitive premiums. Whether you own a small independent art gallery, restore & repair, take your stock to fairs and exhibitions or run a chain of antique shops Insurance Manager covers Insurance For Art Galleries, Dealers & Artists , offering reliable advise for the best priced fine art insurance policy for your requirements.
Scope of cover
The Basis of valuation would depend on the type of cover being sought as per :
- Insuredown property –value agreed
- Sold item not delivered -selling price- fee commission
- Purchased item-cost price +fee/commission
- Property in Care Custody and Control-market value/ liability, whichever is less
- Usually the following % are used as Valuation for Dealers & Gallery owners
– Cost price +20% or
– Selling Price -30%
Fixation of SI would be at least actual value of property as agreed mutually above for private collectors and highest value of stock at any given point of time for Dealers and Gallery owners
Excluded Business Categories
- Antecedents of the proposer/Art Dealers
- Moral hazard of the client
- Art Warehousing activities
- The trade in fakes
Major Exclusions
- Natural ageing
- gradual deterioration
- Inherent defect
- Rust/ oxidation, moth, vermin, warping , shrinking
- Loss during repairing, reframing, restoring, retouching
- Aridity, humidity, exposure to light , heat unless caused by fire, storm / frost
- Loss by collusionof partner, director
- Inventory loss
- At fairs unless notified
- War and warlike activity
- Terrorism unless opted as extension
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