Collectors: the art of insuring yourself to protect your heritage.

Georges Pelletier 2016-06 Exposition Musée Le Consortium

Did you know that it is possible to protect your works of art thanks to the “works of art and collection” insurance?
Your artworks are part of your heritage, protect them by insuring them.
“Only 25% of works and collectibles would be insured, yet it seems to us that the game is worth the effort”
Some insurers have had specialized directions for a long time in the art and collections market (furniture, works of art, collection cars).
This is the case of AXA, Allianz, Generali, Hiscox, which are the main insurance companies in the market in this area.

 

What are the main guarantees that you can take out on the best contracts?

  • “All risks except” cover in the event of accidental damage, accidental breakage, theft, fire and explosion, water damage and natural events even in the absence of a natural disaster decree.

  • Insurance worldwide, also during transport.

  • Automatic guarantee for recent acquisitions, to be declared in the following months.

  • Guarantees adapted to market developments, to adjust the approved values ​​without proof within the limit of 15% of the amounts insured once every 5 years.

  • Guarantees for loaned works.

  • Additional costs guarantee following the incident (costs and fees of experts, security costs, travel costs, etc.).

  • Juridic protection.

  • No deductible.

  • Choice of guarantees to indemnify: replacement, repair or payment.

 

Declared value or agreed value?

In order to avoid any conflict in the event of a disaster, we favor the valuation of the heritage collected in approved value by an expert.
Because these insurance are often technical, the procedures for setting up and activating benefits in the event of a claim being too long, calling a Broker is highly recommended to avoid the pitfalls.

 

We are working on the subject with Cabinet Cohen, specialized in the field of insurance of works of art and antiques, which you can contact in complete confidence.

For more information, visit cabinetcohen.fr

Cabinet Cohen - conseil en assurance d'objets d'art

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