alexnh123
New Member
Posts โข 851
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October 2007
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Art Insurance in the UK, by alexnh123 on Dec 17, 2010 13:38:10 GMT 1, Some great advice here. Thanks.
Some great advice here. Thanks.
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howlinjack
New Member
Posts โข 615
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July 2006
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Art Insurance in the UK, by howlinjack on Dec 17, 2010 15:05:01 GMT 1, As with all insurances make sure you really understand what you are buying and what conditions you need to satisfy, if for example you do not have all the art on your walls ;-) I had a bunch of stuff in a portfolio under the bed (nowhere else to put it) but as I live in a basement flat it is only covered if it is 12" off the ground. As I work in this robbing you blind game I was sure that there would be some issue so I pressed and pressed until I got the answer above. Had I not done so I could have been properly screwed in the event of an incident. I was then able to negotiate with the insurer and have my stuff insured at two locations, ie the stuff on the walls and the stuff that is no longer under a bed but somewhere nice and safe!!!
so if someone stole the stuff from under your bed would your cover be compromised because of them not being 12" off the floor? or is that a caveat for a flood damage claim?
As with all insurances make sure you really understand what you are buying and what conditions you need to satisfy, if for example you do not have all the art on your walls ;-) I had a bunch of stuff in a portfolio under the bed (nowhere else to put it) but as I live in a basement flat it is only covered if it is 12" off the ground. As I work in this robbing you blind game I was sure that there would be some issue so I pressed and pressed until I got the answer above. Had I not done so I could have been properly screwed in the event of an incident. I was then able to negotiate with the insurer and have my stuff insured at two locations, ie the stuff on the walls and the stuff that is no longer under a bed but somewhere nice and safe!!! so if someone stole the stuff from under your bed would your cover be compromised because of them not being 12" off the floor? or is that a caveat for a flood damage claim?
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alexnh123
New Member
Posts โข 851
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October 2007
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Art Insurance in the UK, by alexnh123 on Dec 17, 2010 16:01:25 GMT 1, if they're in your bedroom they'd be way over 12" above the ground floor in your typical house. Would that not pass?!
if they're in your bedroom they'd be way over 12" above the ground floor in your typical house. Would that not pass?!
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marshman
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November 2006
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Art Insurance in the UK, by marshman on Dec 17, 2010 16:05:57 GMT 1, well they didn't specify it would only be a flood related restriction, but I assumed it would have been and that if a toerag nicked them that they would be okay. Wasn't worth the risk and splitting them in different locations worked well for me.
and yes in a "typical" house, under the bed would normally mean way above the ground floor
well they didn't specify it would only be a flood related restriction, but I assumed it would have been and that if a toerag nicked them that they would be okay. Wasn't worth the risk and splitting them in different locations worked well for me. and yes in a "typical" house, under the bed would normally mean way above the ground floor
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Mattmoo08
Junior Member
Posts โข 1,135
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August 2012
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Art Insurance in the UK, by Mattmoo08 on Jun 26, 2014 21:07:35 GMT 1, need insurance for the collection.
can anyone recommend please.
need insurance for the collection.
can anyone recommend please.
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Dungle
Junior Member
Posts โข 3,994
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June 2011
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Gard
Junior Member
Posts โข 1,604
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June 2012
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Art Insurance in the UK, by Gard on Jun 26, 2014 21:12:28 GMT 1, www.axa-art.co.uk
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supercockle
New Member
Posts โข 544
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November 2010
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Art Insurance in the UK, by supercockle on Jun 26, 2014 21:19:08 GMT 1, Had mine with Axa-art but need to insure for more now (show off) and the Axa premium shot up so am currently shopping around. I'll let you know the outcome @mattmoo8.
Had mine with Axa-art but need to insure for more now (show off) and the Axa premium shot up so am currently shopping around. I'll let you know the outcome @mattmoo8.
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Deleted
Posts โข 0
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January 1970
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Art Insurance in the UK, by Deleted on Jun 26, 2014 21:45:00 GMT 1, If using French company Axa make sure you read all the small print.
If using French company Axa make sure you read all the small print.
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Trevorm
Junior Member
Posts โข 1,160
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August 2010
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Art Insurance in the UK, by Trevorm on Jun 26, 2014 22:11:52 GMT 1, Have a chat with Brownhills, Matt
Have a chat with Brownhills, Matt
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Shoot Again
Junior Member
Posts โข 5,519
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April 2011
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Art Insurance in the UK, by Shoot Again on Jun 27, 2014 8:32:50 GMT 1, Hiscox is great as well, especially if you want to insure your Jewellery as well (as your Art), which isn't included in Brownhills)
Hiscox is great as well, especially if you want to insure your Jewellery as well (as your Art), which isn't included in Brownhills)
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Art Insurance in the UK, by stillborncrisps on Jun 11, 2016 9:29:38 GMT 1, I'm sure there used to be a thread about this but damned if I can find it.
Basically any prints ยฃ1.5k+ are currently covered by my home insurance (More Than) but there's a cap on their total for art. With the Banksy prices going insane in the last year or two, I'm thinking I should probably take out a separate insurance when I come to renew next month. That, or look for home insurance with a higher cap.
Any recommendations?
I'm sure there used to be a thread about this but damned if I can find it. Basically any prints ยฃ1.5k+ are currently covered by my home insurance (More Than) but there's a cap on their total for art. With the Banksy prices going insane in the last year or two, I'm thinking I should probably take out a separate insurance when I come to renew next month. That, or look for home insurance with a higher cap. Any recommendations?
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DrWhite
Junior Member
Posts โข 4,107
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August 2012
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Art Insurance in the UK, by DrWhite on Jun 11, 2016 9:32:40 GMT 1, I recommend Hiscox
I recommend Hiscox
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iamzero
Full Member
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May 2011
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Art Insurance in the UK, by iamzero on Jun 11, 2016 9:33:36 GMT 1, I'm with More Than too, anything in the house over a value of ยฃ1,500 should be declared. Wasn't aware of the limit though, how much is it?
I'm with More Than too, anything in the house over a value of ยฃ1,500 should be declared. Wasn't aware of the limit though, how much is it?
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Gangsta Nola
New Member
Posts โข 289
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April 2015
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Art Insurance in the UK, by Gangsta Nola on Jun 11, 2016 9:39:16 GMT 1, I used the loveartinsurance.co.uk/. They do an up to ยฃ50k policy and onwards. Seems ok. Not too expensive in my opinion. Not had to call on them yet ! (As I touch wood !) ( not a euphemism !) I'm sure there are others as well.
I'm sure some of the heavy hitters from here like 11, dreadnatty, Lroy, FR etc would all be happy to advise if you pm them. GN
I used the loveartinsurance.co.uk/. They do an up to ยฃ50k policy and onwards. Seems ok. Not too expensive in my opinion. Not had to call on them yet ! (As I touch wood !) ( not a euphemism !) I'm sure there are others as well. I'm sure some of the heavy hitters from here like 11, dreadnatty, Lroy, FR etc would all be happy to advise if you pm them. GN
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Art Insurance in the UK, by stillborncrisps on Jun 11, 2016 10:01:52 GMT 1, I'm with More Than too, anything in the house over a value of ยฃ1,500 should be declared. Wasn't aware of the limit though, how much is it? On my policy it was ยฃ15k, I took it out years ago though, and haven't switched as it was such a ball ache to get comparisons once you mention the words 'high value art'. Been really happy with More Than, was really straightforward to take out and they didn't take the piss with price increases year on year.
I'm with More Than too, anything in the house over a value of ยฃ1,500 should be declared. Wasn't aware of the limit though, how much is it? On my policy it was ยฃ15k, I took it out years ago though, and haven't switched as it was such a ball ache to get comparisons once you mention the words 'high value art'. Been really happy with More Than, was really straightforward to take out and they didn't take the piss with price increases year on year.
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iamzero
Full Member
Posts โข 9,190
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May 2011
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Art Insurance in the UK, by iamzero on Jun 11, 2016 10:03:14 GMT 1, Thanks dude. Need to look at that ยฃ15k limited then.
Thanks dude. Need to look at that ยฃ15k limited then.
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londonfx
Junior Member
Posts โข 1,163
Likes โข 707
December 2013
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Art Insurance in the UK, by londonfx on Jun 11, 2016 10:04:26 GMT 1, I'm with direct line for my contents insurance. And I think the limit for a single item was ยฃ3000. So I called them I told them I had a print off around ยฃ8,000 and they simply said to get a value from a gallery and forward it onto them. And it only increased my policy by ยฃ6 per year!! And I tripled checked to make sure as I thought it sounded too cheap. But was correct
I'm with direct line for my contents insurance. And I think the limit for a single item was ยฃ3000. So I called them I told them I had a print off around ยฃ8,000 and they simply said to get a value from a gallery and forward it onto them. And it only increased my policy by ยฃ6 per year!! And I tripled checked to make sure as I thought it sounded too cheap. But was correct
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Larry David
New Member
Posts โข 835
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April 2014
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Art Insurance in the UK, by Larry David on Jun 11, 2016 10:23:06 GMT 1, I am with Dr White, Hiscox all the way.
I am with Dr White, Hiscox all the way.
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Deleted
Posts โข 0
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January 1970
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Art Insurance in the UK, by Deleted on Jun 11, 2016 10:31:13 GMT 1, I'm with Nationwide. Items covered up to ยฃ4000 Anything over needs to be delcared.
One question, and apologies for highjacking the thread, they mention they would need to see paperwork for any item being claimed. Obviously if I bought a Banksy on release the receipt would be for cost price but, as we know, the value of the print now would be much higher. Would an independent valuer be needed to confirm it's value?
I'm with Nationwide. Items covered up to ยฃ4000 Anything over needs to be delcared.
One question, and apologies for highjacking the thread, they mention they would need to see paperwork for any item being claimed. Obviously if I bought a Banksy on release the receipt would be for cost price but, as we know, the value of the print now would be much higher. Would an independent valuer be needed to confirm it's value?
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londonfx
Junior Member
Posts โข 1,163
Likes โข 707
December 2013
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Art Insurance in the UK, by londonfx on Jun 11, 2016 10:50:26 GMT 1, I'm with Nationwide. Items covered up to ยฃ4000 Anything over needs to be delcared. One question, and apologies for highjacking the thread, they mention they would need to see paperwork for any item being claimed. Obviously if I bought a Banksy on release the receipt would be for cost price but, as we know, the value of the print now would be much higher. Would an independent valuer be needed to confirm it's value?
Yes you would need an up to date value from a recognised gallery.
There are several on this forum, and I believe a couple of them offer discounts to forum members. Every time you renew your insurance cover you'll need to update the valuation
I'm with Nationwide. Items covered up to ยฃ4000 Anything over needs to be delcared. One question, and apologies for highjacking the thread, they mention they would need to see paperwork for any item being claimed. Obviously if I bought a Banksy on release the receipt would be for cost price but, as we know, the value of the print now would be much higher. Would an independent valuer be needed to confirm it's value? Yes you would need an up to date value from a recognised gallery. There are several on this forum, and I believe a couple of them offer discounts to forum members. Every time you renew your insurance cover you'll need to update the valuation
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Art Insurance in the UK, by stillborncrisps on Jun 20, 2016 17:02:43 GMT 1, Thanks for all the info. Am on the case now.
Just out of interest, when I'm totting up the values to give to the insurer, should I use eBay sort of prices, or Gallery prices, or Auction prices?
I mean, has anybody actually managed to get full gallery price from an insurer for a stolen or damaged print that in some cases cost a tenth of such price at source/on one's receipt?
Also, what happens if a piece has gone down in value but I've still got the receipt for a higher value. Would the insurer pay out for the original cost, even if it was on sale on the secondary market for half the price now?
Thanks for all the info. Am on the case now.
Just out of interest, when I'm totting up the values to give to the insurer, should I use eBay sort of prices, or Gallery prices, or Auction prices?
I mean, has anybody actually managed to get full gallery price from an insurer for a stolen or damaged print that in some cases cost a tenth of such price at source/on one's receipt?
Also, what happens if a piece has gone down in value but I've still got the receipt for a higher value. Would the insurer pay out for the original cost, even if it was on sale on the secondary market for half the price now?
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Art Insurance in the UK, by stillborncrisps on Jun 20, 2016 17:15:20 GMT 1, Thanks Silky but apart from 3 posts over a year ago, the info in that whole sub-section hasn't been touched since 2013!
Thanks Silky but apart from 3 posts over a year ago, the info in that whole sub-section hasn't been touched since 2013!
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Pootle
New Member
Posts โข 130
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September 2007
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Art Insurance in the UK, by Pootle on Jun 20, 2016 17:26:15 GMT 1, brownhill also decent to get a quote from. For larger collections - they can suggest bands of insurance so you don't have to itemise every piece and can add to your collection without notifying them.
brownhill also decent to get a quote from. For larger collections - they can suggest bands of insurance so you don't have to itemise every piece and can add to your collection without notifying them.
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Art Insurance in the UK, by stillborncrisps on Jun 20, 2016 17:52:30 GMT 1, Tried them already, thanks Mcbhu, they're the same outfit as LoveArtInsurance. They wanted more than twice what Hiscox did though!
Tried them already, thanks Mcbhu, they're the same outfit as LoveArtInsurance. They wanted more than twice what Hiscox did though!
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bigp
New Member
Posts โข 529
Likes โข 435
January 2012
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Art Insurance in the UK, by bigp on Mar 28, 2017 12:51:17 GMT 1, Due to the price surge in Banksy ,Invader art I've tried upping the high risk insurance cover with the Legal & general .Even though I have never made a claim they came back and said that they are unable to give me cover and that I should look elsewhere.. First of all they said that I need to get valuations on anything with a value over ยฃ5k of which I am in the process of doing.Then they said I should look else where.
Does anyone know of any insurance companies that offer quality high risk cover within home insurance.I'm UK based and would appreciate any help.
Thanks in advance.
Due to the price surge in Banksy ,Invader art I've tried upping the high risk insurance cover with the Legal & general .Even though I have never made a claim they came back and said that they are unable to give me cover and that I should look elsewhere.. First of all they said that I need to get valuations on anything with a value over ยฃ5k of which I am in the process of doing.Then they said I should look else where.
Does anyone know of any insurance companies that offer quality high risk cover within home insurance.I'm UK based and would appreciate any help.
Thanks in advance.
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Deleted
Posts โข 0
Likes โข
January 1970
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Art Insurance in the UK, by Deleted on Mar 28, 2017 12:53:27 GMT 1, Hiscox are pretty good I believe
www.hiscox.co.uk
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Hubble Bubble
Junior Member
Posts โข 4,098
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December 2010
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Art Insurance in the UK, by Hubble Bubble on Mar 28, 2017 13:01:32 GMT 1, There is a full thread on this somewhere. Several specialist art policies around (though not, as I found out, if you live in a thatched house).
There is a full thread on this somewhere. Several specialist art policies around (though not, as I found out, if you live in a thatched house).
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bigp
New Member
Posts โข 529
Likes โข 435
January 2012
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Art Insurance in the UK, by bigp on Mar 28, 2017 13:01:59 GMT 1, Thanks ,I'll give them a call.
Thanks ,I'll give them a call.
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