danmuppet
Junior Member
Posts โข 2,637
Likes โข 163
February 2008
|
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
|
|
iamzero
Full Member
Posts โข 9,190
Likes โข 8,542
May 2011
|
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 ยฃ1500 house insurance mark.
I'll be watching this thread after having a couple of pieces now over my ยฃ1500 house insurance mark.
|
|
tartarus
Junior Member
Posts โข 2,628
Likes โข 2,168
February 2013
|
Insurance for my art, by tartarus on Jun 18, 2013 19:58:12 GMT 1, 
|
|
Shoot Again
Junior Member
Posts โข 5,546
Likes โข 2,746
April 2011
|
Insurance for my art, by Shoot Again on Jun 18, 2013 21:00:18 GMT 1, Hiscox
Hiscox
|
|
supercockle
New Member
Posts โข 544
Likes โข 288
November 2010
|
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.
|
|
Blakeies
Junior Member
Posts โข 2,033
Likes โข 730
Member is Online
June 2011
|
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 ยฃ50, maybe ยฃ100.... I'll give you ยฃ200 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 ยฃ50, maybe ยฃ100.... I'll give you ยฃ200 though? |
|
|
|
supercockle
New Member
Posts โข 544
Likes โข 288
November 2010
|
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
|
|
vacano
New Member
Posts โข 189
Likes โข 180
December 2011
|
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
|
|
Manty
New Member
Posts โข 956
Likes โข 574
May 2013
|
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 ยฃ50, maybe ยฃ100.... I'll give you ยฃ200 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 ยฃ50, maybe ยฃ100.... I'll give you ยฃ200 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? |
|
supercockle
New Member
Posts โข 544
Likes โข 288
November 2010
|
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.
|
|
supercockle
New Member
Posts โข 544
Likes โข 288
November 2010
|
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?
|
|
floubi
Junior Member
Posts โข 1,509
Likes โข 795
June 2011
|
Insurance for my art, by floubi on Jun 18, 2013 22:49:10 GMT 1, Your Drans are probably worth about ยฃ50, maybe ยฃ100.... I'll give you ยฃ200 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 ยฃ50, maybe ยฃ100.... I'll give you ยฃ200 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 |
|
Harveyn
Forum Guardian
Full Member
Posts โข 7,695
Likes โข 4,852
July 2007
Staff Member
|
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 ยฃ10k, ยฃ15k or even as high as ยฃ25k. 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 ยฃ25k 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 ยฃ10k, ยฃ15k or even as high as ยฃ25k. 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 ยฃ25k and for any works I have valued more than this threshold they were more than happy to accept my research rather than independent valuation.
|
|
floubi
Junior Member
Posts โข 1,509
Likes โข 795
June 2011
|
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.... |
|
|
|
supercockle
New Member
Posts โข 544
Likes โข 288
November 2010
|
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.
|
|
Harveyn
Forum Guardian
Full Member
Posts โข 7,695
Likes โข 4,852
July 2007
Staff Member
|
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. |
|
Hubble Bubble
Junior Member
Posts โข 4,100
Likes โข 3,533
December 2010
|
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
|
|
Harveyn
Forum Guardian
Full Member
Posts โข 7,695
Likes โข 4,852
July 2007
Staff Member
|
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 >=ยฃ25k) and Unspectified Collectibles (Total ยฃGBP). |
|
Trevorm
Junior Member
Posts โข 1,160
Likes โข 763
August 2010
|
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.....
|
|
Goooogle Male
New Member
Posts โข 728
Likes โข 247
December 2010
|
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 ยฃ50k valuables insurance, with ยฃ15k 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 ยฃ250 what you thought was a ยฃ5k OG...
I use M&S Premier contents insurance. Gives you total of ยฃ50k valuables insurance, with ยฃ15k 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 ยฃ250 what you thought was a ยฃ5k OG...
|
|
dotdot
Junior Member
Posts โข 3,647
Likes โข 1,027
December 2006
|
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. .. |
|
supercockle
New Member
Posts โข 544
Likes โข 288
November 2010
|
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 ยฃ75000 contents and ยฃ10000 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 ยฃ75000 contents and ยฃ10000 individual items, which don't have to be named or valued. That makes things a lot more comfortable in our house.
|
|
|
|
vinzc
New Member
Posts โข 475
Likes โข 176
March 2013
|
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 ยฃ75000 contents and ยฃ10000 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 ยฃ75000 contents and ยฃ10000 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! |
|
Goooogle Male
New Member
Posts โข 728
Likes โข 247
December 2010
|
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 ยฃ75000 contents and ยฃ10000 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 ยฃ250 what you thought was a ยฃ5k OG...
Quite strangely my household insurance renewal came through the door today. I can have ยฃ75000 contents and ยฃ10000 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 ยฃ250 what you thought was a ยฃ5k OG... |
|
