danmuppet
Junior Member
🗨️ 2,637
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February 2008
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Insurance for my art, by danmuppet on Jun 18, 2013 19:48:37 GMT 1, What companies are you guys using? And what is the process of getting it sorted?
Cheers in advance
What companies are you guys using? And what is the process of getting it sorted?
Cheers in advance
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iamzero
Full Member
🗨️ 9,190
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May 2011
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Insurance for my art, by iamzero on Jun 18, 2013 19:50:14 GMT 1, I'll be watching this thread after having a couple of pieces now over my £1500 house insurance mark.
I'll be watching this thread after having a couple of pieces now over my £1500 house insurance mark.
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tartarus
Junior Member
🗨️ 2,628
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February 2013
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Insurance for my art, by tartarus on Jun 18, 2013 19:58:12 GMT 1, 
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Insurance for my art, by Shoot Again on Jun 18, 2013 21:00:18 GMT 1, Hiscox
Hiscox
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Insurance for my art, by supercockle on Jun 18, 2013 21:50:39 GMT 1, Who's the best to speak to about valuations? Have tried and failed a couple of times to get my Drans valued. Any assistance would be greatly appreciated.
Who's the best to speak to about valuations? Have tried and failed a couple of times to get my Drans valued. Any assistance would be greatly appreciated.
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Blakeies
Junior Member
🗨️ 2,036
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June 2011
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Insurance for my art, by Blakeies on Jun 18, 2013 21:59:42 GMT 1, Who's the best to speak to about valuations? Have tried and failed a couple of times to get my Drans valued. Any assistance would be greatly appreciated.
Your Drans are probably worth about £50, maybe £100.... I'll give you £200 though? 
Who's the best to speak to about valuations? Have tried and failed a couple of times to get my Drans valued. Any assistance would be greatly appreciated. Your Drans are probably worth about £50, maybe £100.... I'll give you £200 though? |
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Insurance for my art, by supercockle on Jun 18, 2013 22:09:04 GMT 1, Thanks B. you're quite the Good Samaritan
Thanks B. you're quite the Good Samaritan
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vacano
New Member
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December 2011
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Insurance for my art, by vacano on Jun 18, 2013 22:38:02 GMT 1, Aviva is ideal for insuring your art at home, Hiscox is better suited for galleries but all depends on what you have IMO
Aviva is ideal for insuring your art at home, Hiscox is better suited for galleries but all depends on what you have IMO
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Manty
New Member
🗨️ 971
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May 2013
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Insurance for my art, by Manty on Jun 18, 2013 22:40:41 GMT 1, Who's the best to speak to about valuations? Have tried and failed a couple of times to get my Drans valued. Any assistance would be greatly appreciated. Your Drans are probably worth about £50, maybe £100.... I'll give you £200 though?
The only time it will matter is if something bad happens, I tended to just get cover for what the thing cost me. is that bad?
Who's the best to speak to about valuations? Have tried and failed a couple of times to get my Drans valued. Any assistance would be greatly appreciated. Your Drans are probably worth about £50, maybe £100.... I'll give you £200 though? how do you value this kind of thing? ebay results? auction houses? The only time it will matter is if something bad happens, I tended to just get cover for what the thing cost me. is that bad? |
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Insurance for my art, by supercockle on Jun 18, 2013 22:46:44 GMT 1, I'm pretty certain I have works that are worth more than my home insurance covers. They're happy to cover more but need a valuation on letter headed paper. This I am finding difficult to find.
I'm pretty certain I have works that are worth more than my home insurance covers. They're happy to cover more but need a valuation on letter headed paper. This I am finding difficult to find.
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Insurance for my art, by supercockle on Jun 18, 2013 22:47:42 GMT 1, Do Aviva and Hiscox estimate the value of the works for you?
Do Aviva and Hiscox estimate the value of the works for you?
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floubi
Junior Member
🗨️ 1,509
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June 2011
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Insurance for my art, by floubi on Jun 18, 2013 22:49:10 GMT 1, Your Drans are probably worth about £50, maybe £100.... I'll give you £200 though? how do you value this kind of thing? ebay results? auction houses? The only time it will matter is if something bad happens, I tended to just get cover for what the thing cost me. is that bad?
Right, you can cover your art with the value you want but if something happened you need to proove the value you asked for....
I won't cover for what it costed me if the value of some pieces is a lot higher than what I paid for.... It really depends of what you have in your collection
Your Drans are probably worth about £50, maybe £100.... I'll give you £200 though? how do you value this kind of thing? ebay results? auction houses? The only time it will matter is if something bad happens, I tended to just get cover for what the thing cost me. is that bad? Right, you can cover your art with the value you want but if something happened you need to proove the value you asked for.... I won't cover for what it costed me if the value of some pieces is a lot higher than what I paid for.... It really depends of what you have in your collection |
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Harveyn
Full Member
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July 2007
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Insurance for my art, by Harveyn on Jun 18, 2013 22:59:01 GMT 1, Most specialist art insurers have a single item limit that you do not need to specify the artwork when valued under that limit. That can be £10k, £15k or even as high as £25k. Once you get into the specified region then each insurer has a different approach as to valuations. Some ask for independent valuations and some ask you to submit your own research/documented evidence.
I was working with Hiscox directly but as my total collection valuation increased I was forced to move away from their 505 product and to a specialist insurance broker to access their 606 product. That allowed me to look at other options and I am now with AXA Art. They have a specified limit of £25k and for any works I have valued more than this threshold they were more than happy to accept my research rather than independent valuation.
Most specialist art insurers have a single item limit that you do not need to specify the artwork when valued under that limit. That can be £10k, £15k or even as high as £25k. Once you get into the specified region then each insurer has a different approach as to valuations. Some ask for independent valuations and some ask you to submit your own research/documented evidence.
I was working with Hiscox directly but as my total collection valuation increased I was forced to move away from their 505 product and to a specialist insurance broker to access their 606 product. That allowed me to look at other options and I am now with AXA Art. They have a specified limit of £25k and for any works I have valued more than this threshold they were more than happy to accept my research rather than independent valuation.
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floubi
Junior Member
🗨️ 1,509
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June 2011
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Insurance for my art, by floubi on Jun 18, 2013 22:59:26 GMT 1, I'm pretty certain I have works that are worth more than my home insurance covers. They're happy to cover more but need a valuation on letter headed paper. This I am finding difficult to find.
I live in France and I also have a home insurance. I wanted to higher the value of what they would cover and What they told me is that those regular home insurances don't cover you for art. You really need to have a special insurance for that. Don't know if it's the same in the UK....
I'm pretty certain I have works that are worth more than my home insurance covers. They're happy to cover more but need a valuation on letter headed paper. This I am finding difficult to find. I live in France and I also have a home insurance. I wanted to higher the value of what they would cover and What they told me is that those regular home insurances don't cover you for art. You really need to have a special insurance for that. Don't know if it's the same in the UK.... |
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Insurance for my art, by supercockle on Jun 18, 2013 23:10:00 GMT 1, Thanks Harveyn. That's really useful. I'll get in touch with AXAArt and see what they can do. Much appreciated everyone. Apologies for taking over a thread that wasn't mine.
Thanks Harveyn. That's really useful. I'll get in touch with AXAArt and see what they can do. Much appreciated everyone. Apologies for taking over a thread that wasn't mine.
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Harveyn
Full Member
🗨️ 7,746
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July 2007
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Insurance for my art, by Harveyn on Jun 18, 2013 23:15:45 GMT 1, Thanks Harveyn. That's really useful. I'll get in touch with AXAArt and see what they can do. Much appreciated everyone. Apologies for taking over a thread that wasn't mine.
Glad I could help. You will probably need to go through a broker such as The Brownhill Group to access both AXA Arts and Hiscox premium products.
Thanks Harveyn. That's really useful. I'll get in touch with AXAArt and see what they can do. Much appreciated everyone. Apologies for taking over a thread that wasn't mine. Glad I could help. You will probably need to go through a broker such as The Brownhill Group to access both AXA Arts and Hiscox premium products. |
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Insurance for my art, by Hubble Bubble on Jun 19, 2013 9:09:08 GMT 1, Harveyn
did you then exclude your art from your regular household insurance? If so, was there a comparison between what you saved on one and paid on the other?
HB
Harveyn
did you then exclude your art from your regular household insurance? If so, was there a comparison between what you saved on one and paid on the other?
HB
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Harveyn
Full Member
🗨️ 7,746
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July 2007
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Insurance for my art, by Harveyn on Jun 19, 2013 9:22:29 GMT 1, Harveyn did you then exclude your art from your regular household insurance? If so, was there a comparison between what you saved on one and paid on the other? HB
Harveyn did you then exclude your art from your regular household insurance? If so, was there a comparison between what you saved on one and paid on the other? HB HB, No I took out my full house insurance with AXA Art (Building & Contents). Contents is then split in three, General Contents, Collection and Jewellery. "Collection" is where the art is housed. This is then split into two parts, Specified Collectibles (individual items worth >=£25k) and Unspectified Collectibles (Total £GBP). |
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Trevorm
Junior Member
🗨️ 1,160
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August 2010
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Insurance for my art, by Trevorm on Jun 19, 2013 11:11:17 GMT 1, Groan! I'm with Legal & General at the mo (with nothing specified).
Looks like a few days off work coming up sorting out a 'catalogue' with individual pics etc. My stuff is in 5 different locations as well - what a pain, but must get a grip.....
Groan! I'm with Legal & General at the mo (with nothing specified).
Looks like a few days off work coming up sorting out a 'catalogue' with individual pics etc. My stuff is in 5 different locations as well - what a pain, but must get a grip.....
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Insurance for my art, by Goooogle Male on Jun 19, 2013 11:33:24 GMT 1, I use M&S Premier contents insurance. Gives you total of £50k valuables insurance, with £15k per item limit. Includes full accidental damage (including in transit)
I asked about individual valuations and they said they don't require them - just ensure you have evidence that you own the piece.
Incidentally, in case you don't, you should ensure you photograph your whole collection, including all paperwork/COA's, and keep a copy of those images in a different building to the collection (and ideally in 'the cloud' as well). If you have a major disaster (in particular a fire) that way you at least have an evidence trail that the loss adjuster can work from.
Also worth remembering that whatever valuations you or even a professional put in advance, if you make an insurance claim for something like artwork worth more than a couple of grand, they will allocate you a loss adjuster who will make the decision based on the evidence available to him. They will look at purchase price & documentation, auction/gallery results, and for something like street/urban art prints or OG's, would ask relevant galleries etc for their valuation.
Because of this, If you see a piece the same as yours sell somewhere (even on ebay), its always worth taking a screen grab as that could all be useful bargaining chips when some dude in a suit is telling you he's offering you a settlement of £250 what you thought was a £5k OG...
I use M&S Premier contents insurance. Gives you total of £50k valuables insurance, with £15k per item limit. Includes full accidental damage (including in transit)
I asked about individual valuations and they said they don't require them - just ensure you have evidence that you own the piece.
Incidentally, in case you don't, you should ensure you photograph your whole collection, including all paperwork/COA's, and keep a copy of those images in a different building to the collection (and ideally in 'the cloud' as well). If you have a major disaster (in particular a fire) that way you at least have an evidence trail that the loss adjuster can work from.
Also worth remembering that whatever valuations you or even a professional put in advance, if you make an insurance claim for something like artwork worth more than a couple of grand, they will allocate you a loss adjuster who will make the decision based on the evidence available to him. They will look at purchase price & documentation, auction/gallery results, and for something like street/urban art prints or OG's, would ask relevant galleries etc for their valuation.
Because of this, If you see a piece the same as yours sell somewhere (even on ebay), its always worth taking a screen grab as that could all be useful bargaining chips when some dude in a suit is telling you he's offering you a settlement of £250 what you thought was a £5k OG...
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dotdot
Junior Member
🗨️ 3,660
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December 2006
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Insurance for my art, by dotdot on Jun 19, 2013 12:22:41 GMT 1, Groan! I'm with Legal & General at the mo (with nothing specified). Looks like a few days off work coming up sorting out a 'catalogue' with individual pics etc. My stuff is in 5 different locations as well - what a pain, but must get a grip.....
yeah i know the story it's a night bloody mare.
..
Groan! I'm with Legal & General at the mo (with nothing specified). Looks like a few days off work coming up sorting out a 'catalogue' with individual pics etc. My stuff is in 5 different locations as well - what a pain, but must get a grip..... yeah i know the story it's a night bloody mare. .. |
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Insurance for my art, by supercockle on Jun 19, 2013 15:21:53 GMT 1, Quite strangely my household insurance renewal came through the door today. I can have £75000 contents and £10000 individual items, which don't have to be named or valued. That makes things a lot more comfortable in our house.
Quite strangely my household insurance renewal came through the door today. I can have £75000 contents and £10000 individual items, which don't have to be named or valued. That makes things a lot more comfortable in our house.
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vinzc
New Member
🗨️ 475
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March 2013
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Insurance for my art, by vinzc on Jun 19, 2013 16:03:05 GMT 1, Quite strangely my household insurance renewal came through the door today. I can have £75000 contents and £10000 individual items, which don't have to be named or valued. That makes things a lot more comfortable in our house.
but then how best to prove the value of the underlying item in the event of theft or fire?
while i personally have comfort in some of my newer purchases (should something happen tomorrow), as i can prove what i paid...how best to back into a piece that has appreciated since purchased 5-7 years ago?
will that valuemystuff.com site be sufficient? are they at all accurate?
thanks!
Quite strangely my household insurance renewal came through the door today. I can have £75000 contents and £10000 individual items, which don't have to be named or valued. That makes things a lot more comfortable in our house. that is good news. and great thread. but then how best to prove the value of the underlying item in the event of theft or fire? while i personally have comfort in some of my newer purchases (should something happen tomorrow), as i can prove what i paid...how best to back into a piece that has appreciated since purchased 5-7 years ago? will that valuemystuff.com site be sufficient? are they at all accurate? thanks! |
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Insurance for my art, by Goooogle Male on Jun 20, 2013 11:33:02 GMT 1, Quite strangely my household insurance renewal came through the door today. I can have £75000 contents and £10000 individual items, which don't have to be named or valued. That makes things a lot more comfortable in our house. that is good news. and great thread. but then how best to prove the value of the underlying item in the event of theft or fire? while i personally have comfort in some of my newer purchases (should something happen tomorrow), as i can prove what i paid...how best to back into a piece that has appreciated since purchased 5-7 years ago? will that valuemystuff.com site be sufficient? are they at all accurate? thanks!
As I posted above - Also worth remembering that whatever valuations you or even a professional put in advance, if you make an insurance claim for something like artwork worth more than a couple of grand, they will allocate you a loss adjuster who will make the decision based on the evidence available to him. They will look at purchase price & documentation, auction/gallery results, and for something like street/urban art prints or OG's, would ask relevant galleries etc for their valuation.
Because of this, If you see a piece the same as yours sell somewhere (even on ebay), its always worth taking a screen grab as that could all be useful bargaining chips when some dude in a suit is telling you he's offering you a settlement of £250 what you thought was a £5k OG...
Quite strangely my household insurance renewal came through the door today. I can have £75000 contents and £10000 individual items, which don't have to be named or valued. That makes things a lot more comfortable in our house. that is good news. and great thread. but then how best to prove the value of the underlying item in the event of theft or fire? while i personally have comfort in some of my newer purchases (should something happen tomorrow), as i can prove what i paid...how best to back into a piece that has appreciated since purchased 5-7 years ago? will that valuemystuff.com site be sufficient? are they at all accurate? thanks! As I posted above - Also worth remembering that whatever valuations you or even a professional put in advance, if you make an insurance claim for something like artwork worth more than a couple of grand, they will allocate you a loss adjuster who will make the decision based on the evidence available to him. They will look at purchase price & documentation, auction/gallery results, and for something like street/urban art prints or OG's, would ask relevant galleries etc for their valuation. Because of this, If you see a piece the same as yours sell somewhere (even on ebay), its always worth taking a screen grab as that could all be useful bargaining chips when some dude in a suit is telling you he's offering you a settlement of £250 what you thought was a £5k OG... |
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