lee100
New Member
Posts โข 233
Likes โข 114
April 2007
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Art Insurance in the UK, by lee100 on Dec 9, 2020 10:30:09 GMT 1, I have a renewal due with brownhills and with the recent price rises they want valuations for the art. Any one have any ideas where to get this done or how much it costs? They are suggesting CoramJames but they seem to want to do a house visit to value art
I have a renewal due with brownhills and with the recent price rises they want valuations for the art. Any one have any ideas where to get this done or how much it costs? They are suggesting CoramJames but they seem to want to do a house visit to value art
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Pootle
New Member
Posts โข 130
Likes โข 55
September 2007
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Art Insurance in the UK, by Pootle on Dec 9, 2020 11:02:48 GMT 1, I have a renewal due with brownhills and with the recent price rises they want valuations for the art. Any one have any ideas where to get this done or how much it costs? They are suggesting CoramJames but they seem to want to do a house visit to value art I had to use Coram James for Banksy valuations, as requested by my insurer.
The valuation was a few hundred pounds per work if I remember correctly and I felt the initial valuation wasn't appropriate, but once I provided some benchmark data - they were happy to adjust.
If using a valuer - make sure you do your diligence as they are usually not that knowledgeable on individual artists
I have a renewal due with brownhills and with the recent price rises they want valuations for the art. Any one have any ideas where to get this done or how much it costs? They are suggesting CoramJames but they seem to want to do a house visit to value art I had to use Coram James for Banksy valuations, as requested by my insurer. The valuation was a few hundred pounds per work if I remember correctly and I felt the initial valuation wasn't appropriate, but once I provided some benchmark data - they were happy to adjust. If using a valuer - make sure you do your diligence as they are usually not that knowledgeable on individual artists
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Art Insurance in the UK, by stillborncrisps on Dec 9, 2020 12:23:43 GMT 1, My home contents insurer (More Than) said they were OK with art being insured by a seperate insurer, and I got them to put that in writing, acknowledging the value too.
Brownhill (as I understand it) use the Hiscox policy, but are cheaper for some reason. I got a quote with both, and the terms seemed identical, so I went with Brownhill. The policy documents I received name Hiscox as the insurer.
My home contents insurer (More Than) said they were OK with art being insured by a seperate insurer, and I got them to put that in writing, acknowledging the value too.
Brownhill (as I understand it) use the Hiscox policy, but are cheaper for some reason. I got a quote with both, and the terms seemed identical, so I went with Brownhill. The policy documents I received name Hiscox as the insurer.
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Mass
New Member
Posts โข 163
Likes โข 147
June 2020
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Art Insurance in the UK, by Mass on Dec 9, 2020 17:18:58 GMT 1, Iโm having real issues with my renewal following the increase where my LIITA is now 150k us. Insurer asking for grade 3 monitored alarm 2k premium or, company not demanding monitored want 4K grade 2 (grade 2 is already installed)
Iโm having real issues with my renewal following the increase where my LIITA is now 150k us. Insurer asking for grade 3 monitored alarm 2k premium or, company not demanding monitored want 4K grade 2 (grade 2 is already installed)
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Deleted
Posts โข 0
Likes โข
January 1970
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Art Insurance in the UK, by Deleted on Dec 9, 2020 17:31:05 GMT 1, Try Highworths insurance.
Try Highworths insurance.
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lee100
New Member
Posts โข 233
Likes โข 114
April 2007
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Art Insurance in the UK, by lee100 on Dec 9, 2020 18:40:41 GMT 1, I have a renewal due with brownhills and with the recent price rises they want valuations for the art. Any one have any ideas where to get this done or how much it costs? They are suggesting CoramJames but they seem to want to do a house visit to value art I had to use Coram James for Banksy valuations,ย as requested by my insurer. The valuation was a few hundred pounds per work if I remember correctly and I felt the initial valuation wasn't appropriate,ย but once I provided some benchmark data - they were happy to adjust. If using a valuer - make sure you do your diligence as they are usually not that knowledgeable on individual artists
With the prices changing all the time a valuation seems like the valuation will be useless in a few weeks !
I have a renewal due with brownhills and with the recent price rises they want valuations for the art. Any one have any ideas where to get this done or how much it costs? They are suggesting CoramJames but they seem to want to do a house visit to value art I had to use Coram James for Banksy valuations,ย as requested by my insurer. The valuation was a few hundred pounds per work if I remember correctly and I felt the initial valuation wasn't appropriate,ย but once I provided some benchmark data - they were happy to adjust. If using a valuer - make sure you do your diligence as they are usually not that knowledgeable on individual artists With the prices changing all the time a valuation seems like the valuation will be useless in a few weeks !
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Art Insurance in the UK, by Johnny Sarcasm on Dec 9, 2020 19:13:47 GMT 1, I had to use Coram James for Banksy valuations,ย as requested by my insurer. The valuation was a few hundred pounds per work if I remember correctly and I felt the initial valuation wasn't appropriate,ย but once I provided some benchmark data - they were happy to adjust. If using a valuer - make sure you do your diligence as they are usually not that knowledgeable on individual artists With the prices changing all the time a valuation seems like the valuation will be useless in a few weeks !
Coram James are great and they can do a desktop valuation if you send the appropriate pics (they will tell you what they need). Not expensive to do and the valuation stands for 3 years, plus, importantly, allows for a 50% increase in the artwork, ie you ensure for 100 and if it gets stolen and at that time is worth 150, you get 150. That said, if value goes above 150 youโll need a new valuation. Itโs ยฃ50ish per print so well worth the money for peace of mind IMHO.
I had to use Coram James for Banksy valuations,ย as requested by my insurer. The valuation was a few hundred pounds per work if I remember correctly and I felt the initial valuation wasn't appropriate,ย but once I provided some benchmark data - they were happy to adjust. If using a valuer - make sure you do your diligence as they are usually not that knowledgeable on individual artists With the prices changing all the time a valuation seems like the valuation will be useless in a few weeks ! Coram James are great and they can do a desktop valuation if you send the appropriate pics (they will tell you what they need). Not expensive to do and the valuation stands for 3 years, plus, importantly, allows for a 50% increase in the artwork, ie you ensure for 100 and if it gets stolen and at that time is worth 150, you get 150. That said, if value goes above 150 youโll need a new valuation. Itโs ยฃ50ish per print so well worth the money for peace of mind IMHO.
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lee100
New Member
Posts โข 233
Likes โข 114
April 2007
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Art Insurance in the UK, by lee100 on Dec 10, 2020 8:59:46 GMT 1, That sounds good, will speak to them. Thanks!
That sounds good, will speak to them. Thanks!
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artmonster
New Member
Posts โข 311
Likes โข 270
January 2014
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Art Insurance in the UK, by artmonster on Dec 10, 2020 13:34:18 GMT 1, A timely thread, I've literally just chatted with Hiscox - took five mins and I will know my cost in the next twenty-four hours... My notes form the call - there's no particular requirement for security at home, they don't suggest particular alarm system, nor does it have to be connected to a police/monitor station. The guy said that i'll notice in the terms, that you must take 'reasonable care' - so if you go on holiday/leave the house then you lock up etc (!) There's also no excess, if stolen or damaged they will pay up (after obviously investigating) - though they will only pay to the value you've insured your item(s) for (so if the prices keep going up ala Banksy) you have to keep them updated - I forgot to ask whether there is a cost attached to this, i'm guessing yes. For pieces in excess of ยฃ50k then you have to specify what that piece is and what the value of said piece is. They don't ask you to prove the value now, however if you were to claim then they would would want proof of ownership (COA etc) and proof of value - recent auctions etc being acceptable. This was really straight forward and I was impressed at how quick it happened - lets see what the cost is. Just done the same. waiting for the quote to come back from the underwriters. Important to note that they will only pay out for the specific amount you have listed. Thereโs no limited or admin fee for changing the valuations. Iโve heard of people needing to get monitored alarm systems. Maybe thatโs due to their collection being over a certain value?! My home insurance is with Halifax. And their happy for hiscox to insure my art separately.
Same here Always worked
A timely thread, I've literally just chatted with Hiscox - took five mins and I will know my cost in the next twenty-four hours... My notes form the call - there's no particular requirement for security at home, they don't suggest particular alarm system, nor does it have to be connected to a police/monitor station. The guy said that i'll notice in the terms, that you must take 'reasonable care' - so if you go on holiday/leave the house then you lock up etc (!) There's also no excess, if stolen or damaged they will pay up (after obviously investigating) - though they will only pay to the value you've insured your item(s) for (so if the prices keep going up ala Banksy) you have to keep them updated - I forgot to ask whether there is a cost attached to this, i'm guessing yes. For pieces in excess of ยฃ50k then you have to specify what that piece is and what the value of said piece is. They don't ask you to prove the value now, however if you were to claim then they would would want proof of ownership (COA etc) and proof of value - recent auctions etc being acceptable. This was really straight forward and I was impressed at how quick it happened - lets see what the cost is. Just done the same. waiting for the quote to come back from the underwriters. Important to note that they will only pay out for the specific amount you have listed. Thereโs no limited or admin fee for changing the valuations. Iโve heard of people needing to get monitored alarm systems. Maybe thatโs due to their collection being over a certain value?! My home insurance is with Halifax. And their happy for hiscox to insure my art separately. Same here Always worked
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JW
New Member
Posts โข 898
Likes โข 1,321
February 2011
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Art Insurance in the UK, by JW on Jan 14, 2021 15:50:42 GMT 1, Coram James are great and they can do a desktop valuation if you send the appropriate pics (they will tell you what they need). Not expensive to do and the valuation stands for 3 years, plus, importantly, allows for a 50% increase in the artwork, ie you ensure for 100 and if it gets stolen and at that time is worth 150, you get 150. That said, if value goes above 150 youโll need a new valuation. Itโs ยฃ50ish per print so well worth the money for peace of mind IMHO. Another thumbs up for Coram James. I just had a desktop review done and it was as simple as emailing them photos of the prints with sigs/numbers/COAs. Really smooth.
The price I paid was much cheaper than Hang Up's ยฃ100 per print.
Coram James are great and they can do a desktop valuation if you send the appropriate pics (they will tell you what they need). Not expensive to do and the valuation stands for 3 years, plus, importantly, allows for a 50% increase in the artwork, ie you ensure for 100 and if it gets stolen and at that time is worth 150, you get 150. That said, if value goes above 150 youโll need a new valuation. Itโs ยฃ50ish per print so well worth the money for peace of mind IMHO. Another thumbs up for Coram James. I just had a desktop review done and it was as simple as emailing them photos of the prints with sigs/numbers/COAs. Really smooth. The price I paid was much cheaper than Hang Up's ยฃ100 per print.
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LJCal
Junior Member
Posts โข 2,825
Likes โข 4,240
December 2019
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Art Insurance in the UK, by LJCal on Jan 14, 2021 20:34:55 GMT 1, I use Hiscox for ยฃ200k general lower value items and then Ulimart for higher value named items, Ultimart have given me ยฃ400k with a grade 2 alarm. Highly recommend Ultimart. My contents are separate and they have no issue with the art collection other than they require me to insure separately.
I use Hiscox for ยฃ200k general lower value items and then Ulimart for higher value named items, Ultimart have given me ยฃ400k with a grade 2 alarm. Highly recommend Ultimart. My contents are separate and they have no issue with the art collection other than they require me to insure separately.
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reg
New Member
Posts โข 294
Likes โข 431
October 2007
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Art Insurance in the UK, by reg on Feb 7, 2021 10:49:25 GMT 1, Anybody else in the UK had their regular home insurance declined recently?
My art is insured separately but my regular home insurer has now turned me down. Obviously they will keep this on file and I will have to mention this to other companies in the event of a claim.
Anyone else had this trouble?
Anybody else in the UK had their regular home insurance declined recently?
My art is insured separately but my regular home insurer has now turned me down. Obviously they will keep this on file and I will have to mention this to other companies in the event of a claim.
Anyone else had this trouble?
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Art Insurance in the UK, by Happy Shopper on Feb 7, 2021 11:20:23 GMT 1, Anybody else in the UK had their regular home insurance declined recently? My art is insured separately but my regular home insurer has now turned me down. Obviously they will keep this on file and I will have to mention this to other companies in the event of a claim. Anyone else had this trouble?
Yep. Had to change insurance company for general contents as they considered my home a greater risk.
Anybody else in the UK had their regular home insurance declined recently? My art is insured separately but my regular home insurer has now turned me down. Obviously they will keep this on file and I will have to mention this to other companies in the event of a claim. Anyone else had this trouble? Yep. Had to change insurance company for general contents as they considered my home a greater risk.
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reg
New Member
Posts โข 294
Likes โข 431
October 2007
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Art Insurance in the UK, by reg on Feb 7, 2021 12:07:23 GMT 1, Anybody else in the UK had their regular home insurance declined recently? My art is insured separately but my regular home insurer has now turned me down. Obviously they will keep this on file and I will have to mention this to other companies in the event of a claim. Anyone else had this trouble? Yep. Had to change insurance company for general contents as they considered my home a greater risk.
Thanks. Don't mind changing companies and have separate insurance for the art but regardless of who pays out for a claim, it seems that if the risk is higher then premiums will go up for the home contents too?
Anybody else in the UK had their regular home insurance declined recently? My art is insured separately but my regular home insurer has now turned me down. Obviously they will keep this on file and I will have to mention this to other companies in the event of a claim. Anyone else had this trouble? Yep. Had to change insurance company for general contents as they considered my home a greater risk. Thanks. Don't mind changing companies and have separate insurance for the art but regardless of who pays out for a claim, it seems that if the risk is higher then premiums will go up for the home contents too?
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Graham H
Junior Member
Posts โข 2,301
Likes โข 2,416
November 2012
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Art Insurance in the UK, by Graham H on Feb 17, 2021 14:40:44 GMT 1, Just wondering if its a good idea to post up on an open forum a big list of contents of your collection?
Just saying.
Just wondering if its a good idea to post up on an open forum a big list of contents of your collection?
Just saying.
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Art Insurance in the UK, by Brittany's Urban on Feb 17, 2021 15:13:53 GMT 1, Just wondering if its a good idea to post up on an open forum a big list of contents of your collection? Just saying. Thanks for your advice, I might be a bit naive!
Just wondering if its a good idea to post up on an open forum a big list of contents of your collection? Just saying. Thanks for your advice, I might be a bit naive!
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mcgill14
Junior Member
Posts โข 2,338
Likes โข 4,399
January 2017
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Art Insurance in the UK, by mcgill14 on Feb 26, 2021 17:11:02 GMT 1, My current home insurer is being a bit of a knob regards insuring a piece of art work due to it's value. Can anyone recommend an insurance company who will do the job.
Thanks
Steve
My current home insurer is being a bit of a knob regards insuring a piece of art work due to it's value. Can anyone recommend an insurance company who will do the job.
Thanks
Steve
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omeel
New Member
Posts โข 33
Likes โข 47
October 2014
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Art Insurance in the UK, by omeel on Feb 26, 2021 17:16:09 GMT 1, If you are UK based I can recommend either Hiscox (was with them for around 10 years) or Direct Line Select. Both cover high value pieces, just have to be itemised if over a certain value
If you are UK based I can recommend either Hiscox (was with them for around 10 years) or Direct Line Select. Both cover high value pieces, just have to be itemised if over a certain value
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Art Insurance in the UK, by Coach on Feb 26, 2021 17:22:26 GMT 1, My current home insurer is being a bit of a knob regards insuring a piece of art work due to it's value. Can anyone recommend an insurance company who will do the job.
Thanks
Steve
I use Hiscox. They are very clued up regarding insurance for art.
My current home insurer is being a bit of a knob regards insuring a piece of art work due to it's value. Can anyone recommend an insurance company who will do the job.
Thanks
Steve
I use Hiscox. They are very clued up regarding insurance for art.
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Inknart
Junior Member
Posts โข 3,486
Likes โข 3,288
April 2015
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Art Insurance in the UK, by Inknart on Feb 26, 2021 17:27:15 GMT 1, Can someone recommend one in the US? Still looking...
Can someone recommend one in the US? Still looking...
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mcgill14
Junior Member
Posts โข 2,338
Likes โข 4,399
January 2017
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Art Insurance in the UK, by mcgill14 on Feb 26, 2021 17:35:18 GMT 1, Thanks folks, looks like I'll be giving Hiscox a call.....
Thanks folks, looks like I'll be giving Hiscox a call.....
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ART_STA
New Member
Posts โข 36
Likes โข 10
January 2017
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Art Insurance in the UK, by ART_STA on Feb 26, 2021 17:44:52 GMT 1, Hiscox have had a review of there policy regarding certain high value " urban art " in the last weeks so might need to look further..
Was a post regarding art insurance a few weeks ago where other companies were mentioned.
Hiscox have had a review of there policy regarding certain high value " urban art " in the last weeks so might need to look further..
Was a post regarding art insurance a few weeks ago where other companies were mentioned.
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Poster Bob
Junior Member
Posts โข 5,814
Likes โข 5,421
September 2013
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Art Insurance in the UK, by Poster Bob on Feb 26, 2021 18:12:16 GMT 1, If you are UK based I can recommend either Hiscox (was with them for around 10 years) or Direct Line Select. Both cover high value pieces, just have to be itemised if over a certain value Direct Line will require evaluations.
If you are UK based I can recommend either Hiscox (was with them for around 10 years) or Direct Line Select. Both cover high value pieces, just have to be itemised if over a certain value Direct Line will require evaluations.
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mcgill14
Junior Member
Posts โข 2,338
Likes โข 4,399
January 2017
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Art Insurance in the UK, by mcgill14 on Feb 26, 2021 18:34:20 GMT 1, Hiscox website suggests that they are still up for ensuring art works, I'll defo give them a call next week.
Hiscox website suggests that they are still up for ensuring art works, I'll defo give them a call next week.
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omeel
New Member
Posts โข 33
Likes โข 47
October 2014
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Art Insurance in the UK, by omeel on Feb 26, 2021 18:52:48 GMT 1, If you are UK based I can recommend either Hiscox (was with them for around 10 years) or Direct Line Select. Both cover high value pieces, just have to be itemised if over a certain value Direct Line will require evaluations. I haven't provided any and they have covered all my pieces
If you are UK based I can recommend either Hiscox (was with them for around 10 years) or Direct Line Select. Both cover high value pieces, just have to be itemised if over a certain value Direct Line will require evaluations. I haven't provided any and they have covered all my pieces
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Knowss
New Member
Posts โข 369
Likes โข 316
November 2019
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Art Insurance in the UK, by Knowss on Feb 26, 2021 18:57:53 GMT 1, Can someone recommend one in the US? Still looking...
State Farm
Can someone recommend one in the US? Still looking... State Farm
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Poster Bob
Junior Member
Posts โข 5,814
Likes โข 5,421
September 2013
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Art Insurance in the UK, by Poster Bob on Feb 26, 2021 19:00:41 GMT 1, Whether or not you have to depends on the total amount the policy covers and the price of any particular individual item. I made the assumption the OP was referring to a Banksy, which should break that threshold.
Direct Line will require evaluations.ย I haven't provided any and they have covered all my pieces
Whether or not you have to depends on the total amount the policy covers and the price of any particular individual item. I made the assumption the OP was referring to a Banksy, which should break that threshold. Direct Line will require evaluations.ย I haven't provided any and they have covered all my pieces
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omeel
New Member
Posts โข 33
Likes โข 47
October 2014
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Art Insurance in the UK, by omeel on Feb 26, 2021 19:07:48 GMT 1, Whether or not you have to depends on the total amount the policy covers and the price of any particular individual item. I made the assumption the OP was referring to a Banksy, which should break that threshold. I haven't provided any and they have covered all my pieces Not necessarily with their Select brand. I have several Banky's included, no valuations
Whether or not you have to depends on the total amount the policy covers and the price of any particular individual item. I made the assumption the OP was referring to a Banksy, which should break that threshold. I haven't provided any and they have covered all my pieces Not necessarily with their Select brand. I have several Banky's included, no valuations
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Poster Bob
Junior Member
Posts โข 5,814
Likes โข 5,421
September 2013
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Art Insurance in the UK, by Poster Bob on Feb 26, 2021 19:13:14 GMT 1, All I can say is that my experience was different than yours!
Whether or not you have to depends on the total amount the policy covers and the price of any particular individual item. I made the assumption the OP was referring to a Banksy, which should break that threshold. Not necessarily with their Select brand. I have several Banky's included, no valuations
All I can say is that my experience was different than yours! Whether or not you have to depends on the total amount the policy covers and the price of any particular individual item. I made the assumption the OP was referring to a Banksy, which should break that threshold. Not necessarily with their Select brand. I have several Banky's included, no valuations
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Inknart
Junior Member
Posts โข 3,486
Likes โข 3,288
April 2015
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Art Insurance in the UK, by Inknart on Feb 26, 2021 19:21:59 GMT 1, Can someone recommend one in the US? Still looking... State Farm How much will they cover? I know progressive and such only go up to 50k.
Can someone recommend one in the US? Still looking... State Farm How much will they cover? I know progressive and such only go up to 50k.
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