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Insurance on a lot of silkscreen prints, by Glass-Siren-Studio on Sept 7, 2020 6:05:10 GMT 1, Hi Good morning....
I was wondering if any one has any advice on insuring a large collection of silkscreen prints.
I'm an artist and printmaker and run a very small silkscreen print studio in the city of Leeds in the uk.
Its mostly abstract work that i produce these days much of which is heavily inspired by sound. Over the last 13 years or so i've been exploring various multi-layer print processes and have built up quite a large collection of prints. I sell a number of these online during the course of each month which enables me to keep the studio running and keep on developing new print releases. I dont sell my work for crazy amounts of money or anything like that but gradually as i've started make more limited edition pieces in recent history some of these prints are selling for more money when i find the right buyers.
The reason i'm asking is the living space thats siuated above me nearly flooded the other month. Someone had left the taps on and the sink had started to overflow, fortunately no water actually made it though the ceiling into my studio as i rushed out to the above property and got them to turn off all the water but a few droplets had started to form on the ceiling in my studio so i was very lucky to be working at the time and spotted it before anything unspeakable happened..... The ceiling was wiped witha cloth and everything was ok but It put the fear of god into me and got me thinking about the possibility of insuring the work i've made so far.......
Does anyone have any advice on what i could do to cover the work with some kind of insurance policy?
Any help would be very much appreciated
Cheers
D
Hi Good morning....
I was wondering if any one has any advice on insuring a large collection of silkscreen prints.
I'm an artist and printmaker and run a very small silkscreen print studio in the city of Leeds in the uk.
Its mostly abstract work that i produce these days much of which is heavily inspired by sound. Over the last 13 years or so i've been exploring various multi-layer print processes and have built up quite a large collection of prints. I sell a number of these online during the course of each month which enables me to keep the studio running and keep on developing new print releases. I dont sell my work for crazy amounts of money or anything like that but gradually as i've started make more limited edition pieces in recent history some of these prints are selling for more money when i find the right buyers.
The reason i'm asking is the living space thats siuated above me nearly flooded the other month. Someone had left the taps on and the sink had started to overflow, fortunately no water actually made it though the ceiling into my studio as i rushed out to the above property and got them to turn off all the water but a few droplets had started to form on the ceiling in my studio so i was very lucky to be working at the time and spotted it before anything unspeakable happened..... The ceiling was wiped witha cloth and everything was ok but It put the fear of god into me and got me thinking about the possibility of insuring the work i've made so far.......
Does anyone have any advice on what i could do to cover the work with some kind of insurance policy?
Any help would be very much appreciated
Cheers
D
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Insurance on a lot of silkscreen prints, by John The Badgers on Sept 7, 2020 15:52:55 GMT 1, I have just been re-evaluating my insurance, so some info may be of use?
As you are working from a studio, this I'm presuming needs to be done via a commercial policy?
I would perhaps seek the advice of a commercial broker, not unusual for most businesses to carry a lot of stock, and thinking this not too different? Obviously depends on value as to premium.
On this point, worth getting an accurate figure on value, I recently nearly got caught out as the total value pushed me into needing alarms etc, something I found out about only when asking which could have been tricky if making a claim.
In the end, and from recommendations on this site, went through Hiscox. Pretty straight forward, you tell them how much cover you want, and they quote accordingly. Not sure where they stand on commercial cover, so would need checking.
I have just been re-evaluating my insurance, so some info may be of use?
As you are working from a studio, this I'm presuming needs to be done via a commercial policy?
I would perhaps seek the advice of a commercial broker, not unusual for most businesses to carry a lot of stock, and thinking this not too different? Obviously depends on value as to premium.
On this point, worth getting an accurate figure on value, I recently nearly got caught out as the total value pushed me into needing alarms etc, something I found out about only when asking which could have been tricky if making a claim.
In the end, and from recommendations on this site, went through Hiscox. Pretty straight forward, you tell them how much cover you want, and they quote accordingly. Not sure where they stand on commercial cover, so would need checking.
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Insurance on a lot of silkscreen prints, by Glass-Siren-Studio on Sept 7, 2020 16:25:43 GMT 1, Hi
Thats most helpful. Thanks for info. Really appreciate you getting back to me on this.
Are you an artist yourself with lots of stock that needed insuring or was it your own personal art collection?
All the best
Damon
Hi
Thats most helpful. Thanks for info. Really appreciate you getting back to me on this.
Are you an artist yourself with lots of stock that needed insuring or was it your own personal art collection?
All the best
Damon
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Insurance on a lot of silkscreen prints, by John The Badgers on Sept 7, 2020 18:52:55 GMT 1, Hi Damon,
Not an artist here I'm afraid, I was just thinking along the lines of commercial insurance, knowing what it covers, and thinking it could be relevant here? Your prints may be classed as 'stock' as such, and covered accordingly? Maybe the most cost effective?
Personally, I have just looked at my home insurance recently, and learnt of the limitations of 'standard' home contents policies as such, hence going down the Hiscox route?
I haven't got a huge collection, but found you have to be careful on 'exclusions', and limitations like Aviva were stipulating with me, alarms etc which unless I hadn't called to clarify things, they wouldn't have pointed out which I'm sure would have gone a bit sticky if a claim needed to be made.
All the best with sorting.
Hi Damon,
Not an artist here I'm afraid, I was just thinking along the lines of commercial insurance, knowing what it covers, and thinking it could be relevant here? Your prints may be classed as 'stock' as such, and covered accordingly? Maybe the most cost effective?
Personally, I have just looked at my home insurance recently, and learnt of the limitations of 'standard' home contents policies as such, hence going down the Hiscox route?
I haven't got a huge collection, but found you have to be careful on 'exclusions', and limitations like Aviva were stipulating with me, alarms etc which unless I hadn't called to clarify things, they wouldn't have pointed out which I'm sure would have gone a bit sticky if a claim needed to be made.
All the best with sorting.
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Insurance on a lot of silkscreen prints, by Glass-Siren-Studio on Sept 7, 2020 22:36:09 GMT 1, Thanks ever so much..... Really appreciate that...
cheers
D
Thanks ever so much..... Really appreciate that...
cheers
D
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