taz66
New Member
Posts โข 750
Likes โข 222
November 2011
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Art valuation for insurance , by taz66 on Dec 25, 2016 20:48:25 GMT 1, Not sure where to post this... I have a collection of art and wanted to find out how I can get it officially valued
If anyone can point me in the right direction I would be greatful
Not sure where to post this... I have a collection of art and wanted to find out how I can get it officially valued
If anyone can point me in the right direction I would be greatful
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Black Apple Art
Art Gallery
Junior Member
Posts โข 2,007
Likes โข 3,970
September 2013
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Art valuation for insurance , by Black Apple Art on Dec 25, 2016 20:56:16 GMT 1, Not sure where to post this... I have a collection of art and wanted to find out how I can get it officially valued If anyone can point me in the right direction I would be greatful
I know there are several ways of insuring art but have found the best coverage for protecting your true value for a total collection is having a blanket policy for a set amount of total coverage. Then at the time of a loss each claimed piece is dealt with on it's own to establish market value or replacement cost at time time of loss. Especially with Banksy, it never does you justice to insure at the current or even slightly over the current replacement cost as you will have no idea what that cost will be at the time of a loss and it is just futile to have to worry about constantly submitting itemized price estimates and relying on threads like this for you pieces to keep up to date. Just an opinion and have had many good friends do that same that are very happy with this system.
Read more: urbanartassociation.com/posts/recent#ixzz4TsiKPivD
Not sure where to post this... I have a collection of art and wanted to find out how I can get it officially valued If anyone can point me in the right direction I would be greatful Reposting my older response below from a similar question : I know there are several ways of insuring art but have found the best coverage for protecting your true value for a total collection is having a blanket policy for a set amount of total coverage. Then at the time of a loss each claimed piece is dealt with on it's own to establish market value or replacement cost at time time of loss. Especially with Banksy, it never does you justice to insure at the current or even slightly over the current replacement cost as you will have no idea what that cost will be at the time of a loss and it is just futile to have to worry about constantly submitting itemized price estimates and relying on threads like this for you pieces to keep up to date. Just an opinion and have had many good friends do that same that are very happy with this system. Read more: urbanartassociation.com/posts/recent#ixzz4TsiKPivD |
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WOOF
Junior Member
Posts โข 4,458
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March 2014
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Art valuation for insurance , by WOOF on Dec 25, 2016 21:26:57 GMT 1, Not sure where to post this... I have a collection of art and wanted to find out how I can get it officially valued If anyone can point me in the right direction I would be greatful Reposting my older response below from a similar question : I know there are several ways of insuring art but have found the best coverage for protecting your true value for a total collection is having a blanket policy for a set amount of total coverage. Then at the time of a loss each claimed piece is dealt with on it's own to establish market value or replacement cost at time time of loss. Especially with Banksy, it never does you justice to insure at the current or even slightly over the current replacement cost as you will have no idea what that cost will be at the time of a loss and it is just futile to have to worry about constantly submitting itemized price estimates and relying on threads like this for you pieces to keep up to date. Just an opinion and have had many good friends do that same that are very happy with this system. Read more: urbanartassociation.com/posts/recent#ixzz4TsiKPivD
Any reco's on a company that will issue a blanket policy like that?
Not sure where to post this... I have a collection of art and wanted to find out how I can get it officially valued If anyone can point me in the right direction I would be greatful Reposting my older response below from a similar question : I know there are several ways of insuring art but have found the best coverage for protecting your true value for a total collection is having a blanket policy for a set amount of total coverage. Then at the time of a loss each claimed piece is dealt with on it's own to establish market value or replacement cost at time time of loss. Especially with Banksy, it never does you justice to insure at the current or even slightly over the current replacement cost as you will have no idea what that cost will be at the time of a loss and it is just futile to have to worry about constantly submitting itemized price estimates and relying on threads like this for you pieces to keep up to date. Just an opinion and have had many good friends do that same that are very happy with this system. Read more: urbanartassociation.com/posts/recent#ixzz4TsiKPivDAny reco's on a company that will issue a blanket policy like that? |
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Deleted
Posts โข 0
Likes โข
January 1970
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Art valuation for insurance , by Deleted on Dec 25, 2016 21:37:02 GMT 1, Reposting my older response below from a similar question : I know there are several ways of insuring art but have found the best coverage for protecting your true value for a total collection is having a blanket policy for a set amount of total coverage. Then at the time of a loss each claimed piece is dealt with on it's own to establish market value or replacement cost at time time of loss. Especially with Banksy, it never does you justice to insure at the current or even slightly over the current replacement cost as you will have no idea what that cost will be at the time of a loss and it is just futile to have to worry about constantly submitting itemized price estimates and relying on threads like this for you pieces to keep up to date. Just an opinion and have had many good friends do that same that are very happy with this system. Read more: urbanartassociation.com/posts/recent#ixzz4TsiKPivDAny reco's on a company that will issue a blanket policy like that?
I use AXA Art / Minico for this type of coverage. They are very easy to work with.
Reposting my older response below from a similar question : I know there are several ways of insuring art but have found the best coverage for protecting your true value for a total collection is having a blanket policy for a set amount of total coverage. Then at the time of a loss each claimed piece is dealt with on it's own to establish market value or replacement cost at time time of loss. Especially with Banksy, it never does you justice to insure at the current or even slightly over the current replacement cost as you will have no idea what that cost will be at the time of a loss and it is just futile to have to worry about constantly submitting itemized price estimates and relying on threads like this for you pieces to keep up to date. Just an opinion and have had many good friends do that same that are very happy with this system. Read more: urbanartassociation.com/posts/recent#ixzz4TsiKPivDAny reco's on a company that will issue a blanket policy like that? I use AXA Art / Minico for this type of coverage. They are very easy to work with. |
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Black Apple Art
Art Gallery
Junior Member
Posts โข 2,007
Likes โข 3,970
September 2013
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Art valuation for insurance , by Black Apple Art on Dec 25, 2016 21:53:46 GMT 1, Any reco's on a company that will issue a blanket policy like that? I use AXA Art / Minico for this type of coverage. They are very easy to work with.
Any reco's on a company that will issue a blanket policy like that? I use AXA Art / Minico for this type of coverage. They are very easy to work with. My policy is with Lloyds and happy to refer anyone just shoot me a PM. The policy also covers the work in transit which is a huge additional benefit. |
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Art valuation for insurance , by Global Art Traders on Dec 25, 2016 22:02:54 GMT 1, If you click on the Brownhills link at the tp of the GAT home page, - Brownhill's Art Insurance is great and tailor made.
www.globalarttraders.com/
If you click on the Brownhills link at the tp of the GAT home page, - Brownhill's Art Insurance is great and tailor made. www.globalarttraders.com/ |
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retrome
New Member
Posts โข 341
Likes โข 53
December 2007
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Art valuation for insurance , by retrome on Dec 30, 2016 14:35:25 GMT 1, Not sure where to post this... I have a collection of art and wanted to find out how I can get it officially valued If anyone can point me in the right direction I would be greatful
For valuations I would recommend Coram James - www.coramjames.com/. They are very good and easy to deal with.
If you have a large collection of one artist - for example Banksy - it would be worth speaking to a reputable gallery that deal in that specific artist. Using Banksy as an example - Hang Up Pictures have given written valuations in the past.
But - it may not be necessary for you to obtain a valuation at all, it depends on your collection. If you are collecting prints/originals that can be found online from reputable galleries then that would be acceptable. I would just ask that you keep an inventory of your collection with updated values and make your inventory available in the event of a claim.
I'd be happy to have a chat with anyone that would like more info on valuations or insurance. We offer cover from AXA Art & Hiscox and can even combine your art with an existing household policy in some cases.
Alex @ Brownhill Insurance Group (a.k.a. Love Art Insurance) 020 8353 8907. Or email me alex.andrews@brownhillgroup.co.uk
Not sure where to post this... I have a collection of art and wanted to find out how I can get it officially valued If anyone can point me in the right direction I would be greatful Bit slow on the response here.... For valuations I would recommend Coram James - www.coramjames.com/. They are very good and easy to deal with. If you have a large collection of one artist - for example Banksy - it would be worth speaking to a reputable gallery that deal in that specific artist. Using Banksy as an example - Hang Up Pictures have given written valuations in the past. But - it may not be necessary for you to obtain a valuation at all, it depends on your collection. If you are collecting prints/originals that can be found online from reputable galleries then that would be acceptable. I would just ask that you keep an inventory of your collection with updated values and make your inventory available in the event of a claim. I'd be happy to have a chat with anyone that would like more info on valuations or insurance. We offer cover from AXA Art & Hiscox and can even combine your art with an existing household policy in some cases. Alex @ Brownhill Insurance Group (a.k.a. Love Art Insurance) 020 8353 8907. Or email me alex.andrews@brownhillgroup.co.uk |
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Art valuation for insurance , by oxfordwelshchap on Jan 9, 2017 0:21:48 GMT 1, I have a small collection - I think under ยฃ5000 total - would standard house insurance cover it if the premium covers more than this value?
I have a small collection - I think under ยฃ5000 total - would standard house insurance cover it if the premium covers more than this value?
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Deleted
Posts โข 0
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January 1970
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Art valuation for insurance , by Deleted on Jan 9, 2017 2:44:04 GMT 1, Any advice for a guy in the USA?
Any advice for a guy in the USA?
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Deleted
Posts โข 0
Likes โข
January 1970
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Art valuation for insurance , by Deleted on Jan 9, 2017 3:12:13 GMT 1, Any advice for a guy in the USA?
Some good advice in this thread
Any advice for a guy in the USA? Some good advice in this thread |
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randomname
Junior Member
Posts โข 1,962
Likes โข 1,810
June 2013
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Art valuation for insurance , by randomname on Jan 10, 2017 17:07:55 GMT 1, I have a small collection - I think under ยฃ5000 total - would standard house insurance cover it if the premium covers more than this value?
Your homeowners insurance should cover the replacement value of all of your belongings up to the policy limit. The thing to keep in mind is that your deductible might be higher than the value of any single piece of art. So you might want supplemental insurance in case anything happens.
In my case, our deductible is .5% of the total value of the house. That works out to more than any single piece of art is worth, but would be substantial coverage in the event of a total loss like a fire or burglary. Personally, I'm ok with that level of risk.
The other thing to keep in mind is you'll want to inform your insurance agent about your collection and make sure that's accounted for in the total value of your policy. It's also a good idea to up your coverage limit as the value of your home increases. Your premium will go up a little, but not as much as you might think.
I have a small collection - I think under ยฃ5000 total - would standard house insurance cover it if the premium covers more than this value? Your homeowners insurance should cover the replacement value of all of your belongings up to the policy limit. The thing to keep in mind is that your deductible might be higher than the value of any single piece of art. So you might want supplemental insurance in case anything happens. In my case, our deductible is .5% of the total value of the house. That works out to more than any single piece of art is worth, but would be substantial coverage in the event of a total loss like a fire or burglary. Personally, I'm ok with that level of risk. The other thing to keep in mind is you'll want to inform your insurance agent about your collection and make sure that's accounted for in the total value of your policy. It's also a good idea to up your coverage limit as the value of your home increases. Your premium will go up a little, but not as much as you might think. |
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Art valuation for insurance , by oxfordwelshchap on Jan 10, 2017 17:54:53 GMT 1, I have a small collection - I think under ยฃ5000 total - would standard house insurance cover it if the premium covers more than this value? Your homeowners insurance should cover the replacement value of all of your belongings up to the policy limit. The thing to keep in mind is that your deductible might be higher than the value of any single piece of art. So you might want supplemental insurance in case anything happens. In my case, our deductible is .5% of the total value of the house. That works out to more than any single piece of art is worth, but would be substantial coverage in the event of a total loss like a fire or burglary. Personally, I'm ok with that level of risk. The other thing to keep in mind is you'll want to inform your insurance agent about your collection and make sure that's accounted for in the total value of your policy. It's also a good idea to up your coverage limit as the value of your home increases. Your premium will go up a little, but not as much as you might think.
I have a small collection - I think under ยฃ5000 total - would standard house insurance cover it if the premium covers more than this value? Your homeowners insurance should cover the replacement value of all of your belongings up to the policy limit. The thing to keep in mind is that your deductible might be higher than the value of any single piece of art. So you might want supplemental insurance in case anything happens. In my case, our deductible is .5% of the total value of the house. That works out to more than any single piece of art is worth, but would be substantial coverage in the event of a total loss like a fire or burglary. Personally, I'm ok with that level of risk. The other thing to keep in mind is you'll want to inform your insurance agent about your collection and make sure that's accounted for in the total value of your policy. It's also a good idea to up your coverage limit as the value of your home increases. Your premium will go up a little, but not as much as you might think. Some really good advice there thank you. Think I have a 'contents' excess of 200 but I need to check if this is for each individual item or all the items if they were to be damaged in a fire for example. |
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randomname
Junior Member
Posts โข 1,962
Likes โข 1,810
June 2013
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Art valuation for insurance , by randomname on Jan 11, 2017 2:37:19 GMT 1, Your homeowners insurance should cover the replacement value of all of your belongings up to the policy limit. The thing to keep in mind is that your deductible might be higher than the value of any single piece of art. So you might want supplemental insurance in case anything happens.ย In my case, our deductible is .5% of the total value of the house. That works out to more than any single piece of art is worth, but would be substantialย coverage in the event of a total loss like a fire or burglary. Personally, I'm ok with that level of risk. The other thing to keep in mind is you'll want to inform your insurance agent about your collection and make sure that's accounted for in the total value of your policy. It's also a good idea to up your coverage limit as the value of your home increases. Your premium will go up a little, but not as much as you might think. Some really good advice there thank you. Think I have a 'contents' excess of 200 but I need to check if this is for each individual item or all the items if they were to be damaged in a fire for example.
You're welcome. The deductible should be per claim. So if your house burned down, you'd only pay one deductible on everything.
Also, it's a good idea to document everything with photos and invoices. I keep a mail folder for my online purchases and drop my invoices in there whenever I buy anything.
Your homeowners insurance should cover the replacement value of all of your belongings up to the policy limit. The thing to keep in mind is that your deductible might be higher than the value of any single piece of art. So you might want supplemental insurance in case anything happens.ย In my case, our deductible is .5% of the total value of the house. That works out to more than any single piece of art is worth, but would be substantialย coverage in the event of a total loss like a fire or burglary. Personally, I'm ok with that level of risk. The other thing to keep in mind is you'll want to inform your insurance agent about your collection and make sure that's accounted for in the total value of your policy. It's also a good idea to up your coverage limit as the value of your home increases. Your premium will go up a little, but not as much as you might think. Some really good advice there thank you. Think I have a 'contents' excess of 200 but I need to check if this is for each individual item or all the items if they were to be damaged in a fire for example. You're welcome. The deductible should be per claim. So if your house burned down, you'd only pay one deductible on everything. Also, it's a good idea to document everything with photos and invoices. I keep a mail folder for my online purchases and drop my invoices in there whenever I buy anything. |
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londonfx
Junior Member
Posts โข 1,163
Likes โข 707
December 2013
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Art valuation for insurance , by londonfx on Jan 11, 2017 11:22:02 GMT 1, Each insurance company is different.
I've found it's mainly about individual items. I'm in my case if an item is above ยฃ5000 it's needs to be specifically itemised and a valuation is needed.
If the individual value of a print is ยฃ4999 you don't need to inform them of the speficic details.
So even if you have 100 prints with an individual value of ยฃ4999. The insurance company do not need to be informed of the specific details.
Although I would advise keeping a good record of your collection. Where and when you purchased the print. Condition. Estimated value
Each insurance company is different.
I've found it's mainly about individual items. I'm in my case if an item is above ยฃ5000 it's needs to be specifically itemised and a valuation is needed.
If the individual value of a print is ยฃ4999 you don't need to inform them of the speficic details.
So even if you have 100 prints with an individual value of ยฃ4999. The insurance company do not need to be informed of the specific details.
Although I would advise keeping a good record of your collection. Where and when you purchased the print. Condition. Estimated value
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