Most people appreciate ART. Some people enjoy collecting, buying and selling ART. Very few people get excited about ART insurance. We love it, especially insurance for ART GALLERIES & ART STUDIOS.
Coverage for art related business starts with a good business owners policy (if too big for a BOP, we can place on a commercial package). Typically, BOPs provide broad coverage at a reasonable premium, but not all BOPs are the same. Our BOPs are competitive, include broadened property and GL endorsements. They can be tailored to include needed coverages. The flexibility to add and remove coverage allows us to customize policies that include provisions for special events, host liquor, EPLI and others. We can add umbrella and workers compensation too. But even with this flexibility, BOPs themselves can come up short.
Art Dealers Floater/Scheduled Fine Arts
Great coverage starts with the BOP, but business owners policies typically have sublimits for fine art, property of others, property in transit and property off premises. Also, when it comes to ART, valuation can be complicated and sometimes small commercial carriers do not have expertise with fine art. Finally, BOPs may exclude property damage caused by certain perils including humidity, molds, vermin and others. We want to avoid situations where a Gallery owner thinks that their art is covered as business personal property, only to find out after a claim that their coverage is not adequate. To provide the best coverage for the above situations, the solution is an ART DEALER FLOATER and/or Scheduled Fine Arts.
ART DEALER FLOATERS are designed specifically for dealers and galleries and can remove gaps in coverage. The coverage can protect the artwork every step of the way — from when it is packed at the artists studio, while it is displayed either at the gallery or off premises (i.e. in a building lobby or at an art fair), to when it is is delivered to a buyer or sent back to the artist. Our carriers that provide FINE ART DEALER coverage have specialists with knowledge to provide risk control and expert claims handling. We can quote coverage for small or large galleries just send us the acord along with this specialized app -ART DEALER COVERAGE APPLICATION.
We can help you place the BOP and/or floater. We can also consider the WC, Umbrella, Foreign Liability and other lines. So if you need assistance placing coverage for art galleries, art studios, art schools, museums and even personal collections, contact us at email.
We wish you the best and look forward to working together on your art risks!