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What is art insurance?

We understand that your artwork is one of your most cherished possessions. Whether you inherited the piece, bought it for love or as an investment, our comprehensive range of art insurance policies gives you the peace of mind to hang your art where and how you want to. You can choose between a standalone policy or to include cover within a High-Value Home Insurance package. Either way, we’re hear to help.

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Why do you need art insurance?

Artwork can be easily damaged. If the cause of the incident is sudden or unforeseen, then a stand-alone or high-value home insurance product can offer the protection you need. Artwork can fall or be knocked over, too. Sometimes, artwork can be damaged during transit. It may be on the way to a gallery or in transit from one home to another. When your art is travelling, it’s at the greatest risk of coming to harm, and some of our high-value home policies will cover art in transit.

The right policy ensures peace of mind that your treasured item will be replaced like for like (if possible) or repaired.

Main benefits of an art insurance policy

  • In-the-home coverage as standard; can be extended worldwide.
  • No Excess to pay.
  • Single specified items or entire collections.
  • Market value basis of settlement will cover you for the value of the item the day before the loss without need for a valuation.
  • Alternatively, if you have an approved valuation, you can request an agreed value basis of settlement, which guarantees coverage regardless of market conditions.
  • Accidental damage is included as standard.
  • Theft cover and water damage cover included.
  • Stand-alone cover up to £1,200,000 available.
  • High-value cover without limit available.

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Artwork Insurance FAQs

Do I need an art valuation for my stand-alone insurance policy?

If you claim an insurance policy for loss, damage, or theft, you may be asked to provide a valuation or receipt. This largely depends on the value of the item(s) insured and the type of policy you’ve selected. A market value basis of settlement policy will cover your item(s) for the item’s market value the day before the loss, up to the amount shown on the schedule. An agreed value basis of the settlement policy will cover your item(s) for the agreed amount as shown on the schedule and supported by the approved valuation document. If you have an agreed value product, then you must supply a valuation to us within 28 days of policy inception and/or at the point of making a claim.

Further consideration should be given to the specified limit on your high-value home insurance policy. If the item(s) being covered is less than the specified limit, then you may only need to supply a proof of ownership document demonstrating the item exists. For more information, please contact your broker or consult your policy wording.

Do you have any tips on safeguarding artwork?

Some top tips from the Stanhope team:

  • Photograph everything and/or have an inventory of your items. These photographs will serve as a record and further proof of ownership should your artwork become lost or stolen.
  • Use a specialist firm to hang/install your most valuable artwork items on the wall or on display.
  • Always use specialist transit companies who are experienced in transporting artwork. Remember, your artwork is most vulnerable when it is in transit.
  • Keep your artwork away from direct sunlight. This will protect against discolouring.
  • Check to see if your artwork is close to or under any significant water pipes. Escape of water is one of the most common claim types.