Properly Insure Art by Following These Tips

Many people enjoy the beauty of priceless art from paintings to sculptures. Some wealthy individuals even have private collections complete with Persian rugs and antique furniture. Those with these valuable possessions often wonder how to insure art.

Specialized Coverage

As referenced on, valuable art requires specialized coverage because not all items have the same value. An antique Queen Anne chair may not be worth as much as a Renoir painting. Each item needs to be valued to ensure it has the right amount of coverage.

Value Assessment

Valuing each item requires the skills and expertise of a professional. While the bill of sale often includes an appraisal, not every item is purchased. For example, family heirlooms such as a piece of jewelry over 100 years old may not come with original paperwork. Hiring an art appraiser can help provide a true value assessment.

Necessary Documentation

Some items may require the purchase documents to properly insure. These documents show that you purchased the artwork, so there is no doubt about ownership. In fact, oftentimes these documents can help value the artwork in question because they include an appraisal. For family items, the will may be the only documentation available to prove ownership.

These steps on how to insure art can help collectors protecting their possessions. The specialized coverage works in conjunction with a homeowner’s insurance policy.