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Insurance for Art and Artists

Do want to find out more about insurance for art and artists?

  • Do you need insurance for your art, artistic assets or artist's studio?
  • Are you exhibiting your art - and need insurance re. damage or public liability?
  • ​Are you planning an art class and need insurance for public liability?
  • Are you working from home - and need to ensure you don't invalidate you domestic cover?
  • Are you opening an art school and need full cover for all relevant risks and liabilities
  • Are you opening an art gallery and want full cover for all business risks?
  • Are you moving your art - and need cover for transportation of paintings, sculpture etc?
  • Do you need insurance for an art installation?
  • Do you need insurance cover for an art collection - but haven't got a clue where to start looking?

In Summary - what this site covers

This site aims to
  • Provide information about insurance - SPECIFICALLY for artists and art collectors - assemble links to all current and relevant resources about insurance for art and artists and art collectors on the Internet
  • Make insurance information for artists geographically relevant - organise information about insurance for art and artists by country. 
  • ​Highlight insurance specifically designed for artists and art collectors - Over time, I also aim to try and crowd-source recommendations about different insurers - and which to avoid.​ ​
QUICK LINKS: 
  • ​Insurance for Art Teachers
​Art Insurance POLICIES for Art, Art Studios, Artists, Art Galleries and Art Collections
  • In the UK
  • In USA and Canada

Contents are listed below....
Together with a note about what this site NOT cover!

ART INSURANCE: Contents of this page

WHAT SORT OF INSURANCE DOES AN ARTIST NEED?
​

Overview of different types of insurance relevant to art and artists
  • insurance for an artist's assets and art business liabilities
  • public liability insurance relating to third parties
  • specialist insurance for artists - e.g. in relation to an art installation
  • specialist insurance for art businesses
Plus notes on common uninsured risks e.g.
  • under-insurance and
  • failure to properly protect assets from known risks
PRACTICAL REALITIES - and WHY YOU NEED INSURANCE
​

Stories from scenes of fire, flooding and tornadoes affecting artists, art schools and art galleries - if you need reminding

Plus case studies, images and videos.

INSURANCE: INFORMATION AND ONLINE ADVICE

More about insurance for art, artists and the art business
  • Insurance for Working from Home
  • ​Insurance for Art Teachers (on a separate page)
  • Insurance for Art Collections
  • Insurance for Art Galleries and Art Fairs
  • Insurance for Commissions / Public Art
COMPENDIUM: INSURANCE POLICIES - IN DIFFERENT COUNTRIES

ON OTHER PAGES: Check out what insurance policies
for artists and art collections are available...
In the UK
  • Art Insurance Policies - UK
In Ireland 
  • Art Insurance in Ireland ​
In North America (USA & Canada)
  • Art and Artist Insurance Policies - USA & CANADA
  • Health Insurance for Artists - USA

What this site does NOT cover

PLEASE NOTE:
  • I do NOT provide insurance 
  • I do NOT sell policies
  • I do NOT provide quotes
  • I do NOT offer advice as to the most appropriate insurance strategy or policies for YOU. Guidelines are generic i.e. general.
  • I am NOT liable for any problems you have as a result of reading this page or any site it links to. YOU make the decisions not me.
I'm in the same boat as you - just looking to see what's out there.

The only difference between you and me is that I created a website which tries to pull relevant information together in one place!  

This site might help you but it can't provide definitive answers to all situations. I also cannot advise you on your personal situations

Only you can satisfy yourself as to what insurance cover you need and whether the policy you buy does all it needs to.

PLEASE NOTE
I don't know which adverts you see (Google tailors them to you and YOU control what you see)
I do not specifically endorse any services offered by advertisements.
I'm also not responsible in any way for the services provided at the other end of a link.

Before you start.....
​

Why this page exists
I've been wondering whether artists insure everything they need to.  Given the size and scope of art studios, the nature of art materials and equipment we all use and the extent to which artwork moves in and out of the studio on its way to galleries and exhibitions, it makes me wonder if artists insure all they need to or whether they insure for the minimum they have to or just fail to make any adequate provision for insurance because it's all too complicated and/or too expensive.

In recent times I've know four artists lose their entire studios due to fire or tornados.  It makes me wonder whether any of us might experience a similar catastrophic incident and live to regret failing to insure properly.
  • ​POLL: Do you insure your art and art business?​
Below are the results of my very first 'Insurance for Artists" POLL on my Making A Mark Blog that I ran in 2012.
There's one overwhelming conclusion to be drawn from my poll which asked "What aspects of your art and art business do you insure?"

In general, the majority of artists do not tend to insure their artwork or their studios
REFERENCE:
  • ​POLL: Do you insure your art and art business?
  • What aspects of your art and art business do you insure? POLL RESULTS
You can check out the current/ongoing poll in the next section BELOW.
  • Compare your response to those of other artists
  • See if the results have changed
Maybe have a think about whether you now have a different perspective on business interruption insurance?
What aspects of your art and art business do you insure?
The results of very first Insurance for Artists Poll on my blog - 43% of bloggers have no insurance for anything related to art or their activities as an artist (From "What aspects of your art and art business do you insure?" 30 Mar 2012)

INSURANCE FOR ARTWORK, ARTISTS & YOUR ART BUSINESS

Types of insurance relevant to artwork and artists
​

What sort of insurance does an artist need? 
​
These are some of the different types of insurance which artists might need - depending on:
  • what they do
  • how they work
  • the assets they own or use
  • the liabilities they have to third parties - in terms of public and professional
  • the extent to which they allow access by third parties to their studios and other spaces they own or rent and
  • the country they live in!
Below you will find explanations of the different types of insurance, what risks they cover and why you may need them.
Picture

What do you insure as an artist?
​

Artists take a variety of approaches to the insurance of their work.

​However I now know four artists who have lost their studios and everything in it to catastrophic events - and it makes you think and reassess just what should be covered.
(see below for their stories)
​

Try the Poll (in the yellow box) and see how you compare to other artists. 
  • You can choose multiple responses
  • Check the responses to date (see right of Vote button)​
  • View charts from past polls (further down this page)

ADVERT

ARTIST - Assets
​

ART BUSINESS - Liabilities
​

ARTWORK - Despatch
Insurance depends on
  • how you transport your artwork
  • what you terms you state in your invoice / note of consignment
  • despatch of artwork to/from client or exhibition (domestic or international)

ARTWORK - Exhibition
You need insurance for artwork that is consigned to:
  • a gallery - whether or not it is on display (ie gallery owner or exhibition organiser who does not own artwork and accepts no responsibility for insurance)
  • an exhibition - in a gallery and/or run by an art competition or art society. 

THE ARTISTS STUDIO
Insurance for the structure and facilities
  • at home (ie separate workspace at home and not residential - and hence not covered by a domestic policy)
  • in a leased unit (with/without insurance in the rent)
Note that some artists report that it's very difficult to get insurance for studios which are NOT built using noncombustible materials

ART MATERIALS AND EQUIPMENT
As we all know art materials and equipment are sometimes far from cheap - and accidents do happen
  • accidental damage to art materials and/or equipment
  • dispatch of art materials to another country

ART BUSINESS INCOME (Business Interruption)
This provides cover for loss of income due to:
  • business expenses following a business loss (usually of something physical) which results in an inability to trade
  • notifiable diseases requiring the business to shut following a notice to close from relevant authorities
ART SPACE WITH VISITS FROM THE PUBLIC (eg Art Gallery; Artist's Studio)
The following require public liability insurance (see below for more details)
  • a dedicated art gallery
  • artists own studio - used for open studios / clients visiting studio

See What happens if you break an artwork? - the professional response from most museums is they call in the insurers and they pay to fix the artwork

ARTIST RUN WORKSHOPS AND ART CLASSES
  • Liability for your own professional practice and advice to students
  • 3rd party public liability insurance cover for host premises (included in the rental or not)
  • 3rd party public liability for students in art workshops you're running
  • students' insurance (make sure they bring their own!)

COMMISSIONS - PUBLIC INSTALLATIONS
cover for the risks associated with:
  • completing commissions to deadline
  • liability for health and safety of the public

PROFESSIONAL INDEMNITY
  • professional indemnity insurance for those providing professional advice

PRODUCT LIABILITY
  • indemnity insurance for those providing an artistic product and/or installation (e.g. re. health and safety)

ARTISTS AS EMPLOYERS
  • employer liability if employing e.g. studio assistants
REFERENCE
  • Buying insurance? Be certain you understand it | Be Smart about Art - explains why the insurance you have may not cover everything you think it does - and why you need to think carefully about what you need and read the small prin

Public Liability Insurance (UK)

Legal aspects of your 'duty of care' - covering your liability as an artist towards third parties - will vary from country to country.
Below is an overview of the situation in the UK.

What is Public Liability Insurance?

This covers you for your legal liabilities if you cause any injury to people (including death) and/or damage to the property of third parties. These liabilities usually arise when people are working in and/or present in a property (including the associated land) where you have a legal duty of care to provide a safe and healthy environment.

Your artwork might also cause injury or death or damage and public liability insurance also covers this - including the installed artwork for those who commissioned it.
Why does an artist need public liability insurance?

To be able to work or hold any activities in any public space - or a space which members of the public can access (eg open studios, workshops in the artists studio) you must have public liability cover. If renting the space this is often a condition of the rental.

Unless you can provide adequate cover, you will will be unable to work or deliver activities in any public space (eg live events) or any space which members of the public can access

If you own the space you can risk being sued for injury or death or damage if anything untoward were to happen. Public Liability Insurance cover often runs to millions of pounds.
Information about Public Liability Insurance

  • "Policy Expert" | Artists Insurance - Public Liability Insurance
    A guide to Public Liability Insurance for Artists. Read about the cover that Artists need to have comprehensive business insurance cover.
  • Public Art Online Resources - Artists' Public Liability and Professional Indemnity Insurance - Frequently Asked Insurance Questions
  • Get covered: why artists need to have insurance and how a-n can help | News | a-n
    All a-n's UK Artist + AIR members get free, specially tailored public and products liability insurance with their annual membership. Here, a-n's Director outlines why making sure you're properly covered is essential for every practising artist.
This was the result of an earlier version of this poll. Note the score for Public Liability Insurance!
Picture
Results of POLL: Being an Artist - what do you insure? (Version #1)

Specialist Insurance for Art Businesses

BUSINESS INTERRUPTION / REVENUE PROTECTION FOR ARTISTS
  • Indemnity if you are the main breadwinner and you are
    • unable to work and/or
    • you are suffering a business interruption due to a major loss/damage to your art materials and artwork eg due to fire
Issues:
Over and above the need to think seriously about insurance, it can take time to get back on your feet.
Do you have a back up plan for
  • if you lose your premises for whatever reason
  • if your art equipment / materials are stolen or damaged beyond repair
  • if third parties (eg companies providing art fairs or galleries) go bust and disappear leaving you with no venue to sell your art
It all started with questions from clients regarding art fairs. What happens from a legal perspective if the organisers need to cancel or postpone the fair? What happens if an art fair that the client has paid for cancels their stand and they can’t exhibit, despite all the associated costs they have already incurred? We reviewed force majeure clauses, supplier and exhibitor terms and conditions, sponsorship agreements and insurance policies. We helped clients negotiate where there was scope to do so. One thing is certain: whatever legal position art businesses find themselves in, this is no fun for anyone.
​
What now for art businesses? Thoughts from an art lawyer in a time of crisis
REFERENCE:
  • UK regulator to seek court ruling on business interruption insurance | Financial Times - The UK Business Regulator seeks to sort out the controversy round whether business interruption insurance covers pandemics - or not - if businesses are required to close.
  • What now for art businesses? Thoughts from an art lawyer in a time of crisis | Apollo Magazine - specifically in relation to art fairs
  • The Art Market Adjusts: Insurance implications for fine art collectors and exhibitions | withersworldwide - which highlights one of the reasons why business interruption insurance may not be payable in relation to closure due to a notifiable disease
  • Coronavirus – Business Interruption Insurance | Macbeths
VEHICLE INSURANCE
  • Use of a vehicle for business purposes. 
Issues:
  • if you are using the domestic family car for business purposes and have not declared this you could find you EITHER don't have any insurance cover in the event of an accident or incident AND/OR the insurer will blacklist you 
GOODS IN TRANSIT
  • This insurance is typically only available from specialist insurers whose customers are the couriers and haulage forms which typically transport goods and need insurance against theft, loss or damage.
  • However if hiring your own van and/or transporting your own artwork this is the cover needed for anything that happens in transit
  • ​Theft of artwork or equipment or materials from unattended vehicles 
Covers business items being moved from one place to another from theft, loss or damage
Issues:
To establish a claim re damage you need:
  • ​Documentary evidence
  • Proof of Valuation - by a reputable source
  • Evidence of proper packing. Photograph how you pack artwork before it moves
  • Evidence that the exhibition or gallery packed your artwork according to you instructions/specification. If you didn't provide these you might be held responsible if anything gets damaged.
  • How it is handled – insurance provided by mover

Specialist Insurance for Artists
​

HEALTH INSURANCE FOR ARTISTS 
(e.g. for those who don't have access to the NHS in the UK)
  • Working with hazardous materials
  • Payment of bills for healthcare

REALLY IMPORTANT!!  Risks not covered by Insurance
​

UNDERINSURANCE
  • Failing to value the whole risk covered by the insurance for an adequate sum. You are underinsured when (1) the sum insured (i.e. the maximum payout in the event of total loss) is less than (2) the value of the items/business insured (i.e. you can't cut costs by failing to obtain a proper valuation for insurance purposes)
  • Artwork completed and not yet sold only has a hypothetical value. You need evidence of past sales to justify stock loss
FAILURE TO PROTECT PROPERTY
If a property is in an area known to be at risk from a flood then the assumption is made that assets (e.g. artwork and art materials) are stored off the floor

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The practical realities - if you should need reminding...
​

If you're not one for putting your head in the sand....

Here are some stories of the practical realities faced by artists, art schools and art galleries when disaster stared them in the face.
I highlighted most of the stories below on my blog when it happened because it seemed to me everybody needs to remember that one day it could be YOU!

​


FIRE DAMAGE

Picture
Firefighting, Glasgow School of Art. Source: Wikimedia Commons

FIRE: CASE STUDY - Art School UK

FIRE: CASE STUDY - Art School USA

In 2014, fire raged through the iconic Grade A Listed Mackintosh building of the Glasgow School of Art designed by Charles Rennie Mackintosh. After the fire they had a very major project to work out how to reinstate this iconic building - and how to raise the funds to do this.
  • ​What happened when Glasgow School of Art went up in smoke? | The Independent covers the story of the losses within the art school and the loss of portfolios by the students
  • Major fire at Rennie Mackintosh's Glasgow School of Art
    A review of the fire 
  • Mackintosh Building Fire Fund | The Scottish Government pledged to match up to £5m raised by the Glasgow School of Art for the restoration of the building. 
  • The Mac after the Fire - an Archive, an Appeal | The Glasgow School of Art formerly launched The Mackintosh Appeal. The aim is to raise c. £20m

Glasgow School of Art fire: fire damages Charles Rennie Mackintosh building - live updates http://t.co/zq9iD61mjM pic.twitter.com/E5LbaULcMA

— Guardian news (@guardiannews) 23 May 2014
On 13th February 2013, The Pratt Institute in New York was seriously damaged by fire which took nearly 170 firefighters to extinguish. It destroyed the studios of the Fine Art Seniors and their artwork for their senior projects. The Institute focused on resilience and reputational issues as well as the need to rebuild.
  • Fire at Pratt Institute Destroys Studios and Artwork of Students | New York Times
  • Pratt Fire Destroys, Inspires | Wall Street Journal
  • Media Coverage Featuring Student Fire Recovery and Resilience of Pratt
  • Pratt Institute: Fire Safety - Emergency Response Quick Reference Guide - does your institution have one of these?

FIRE: CASE STUDY - Art School UK

On the night of 15/16 June 2018, fire AGAIN raged through the Mackintosh Building at the Glasgow School of Art (see ANOTHER Major Fire at Rennie Mackintosh's Glasgow School of Art). It lost its roof and top floors - and all the refurbishment done after the last fire in 2014.

Questions will be asked as to what additional fire protection and precautions had been added after the last fire....
Picture
Aerial view of what remains of the Mackintosh Building after the fire in June 2018 - released by Police Scotland

FIRE: CASE STUDY - Artist USA

What on earth do you grab when you think ... maybe ... your house will burn down??? I grabbed:
1. my computer
2. my purse (with new iphone)
3. some clean underwear
4. all my small paintings
.....The good news is, we have fire insurance.
Carol Marine
Carol Marine (Painting a Day) and her family used to live in Texas - until a fire storm burned down their house and her newly built studio and all her materials and equipment on 4th September 2011. They got out with minutes to spare.  This is their story.
  • Before the Fire and Update cover the fire.
  • Building My Studio is so sad. It covers the process of building the studio and includes photographs of how much is left after a fire burns everything to the ground.
  • Her husband then wrote about Our Plans and their move to Oregon.
  • The aftermath goes on for a long time - and a lot of it is good! Her family lived in a camper for a whole month after the fire and then Carol recorded her family's subsequent move to Oregon, finding a new home, getting her studio back in action and her new life in A New Beginning.
If they didn't have fire insurance it could have been very different.

Artist Proof Studio burned to the ground on March 9, 2003, ten years after its founding, Artist Proof Studio burned to the ground.
  • Artist Proof Studio: A Journey of Reconciliation - provides the story of what happened and how people responded
Picture
All that remains of Carol's brand new studio after the fire. Her home was also levelled. They had insurance to start again...

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WIND & WATER DAMAGE - HURRICANES, TORNADOES, FLOODING

TORNADO: CASE STUDY

it took only seconds to blow our house apart, snap off every one of our beautiful  oaks, flatten the surrounding forest, sweep away the barn, trash both vehicles, and bury everything we own under a mountain of debris.
Debby Kaspari
Debby Kaspari is an artist who draws birds (see Drawing the Motmot). She lost her home and studio in Oklahoma on 10th May 2010 due to an EF4 tornado which was half a mile wide and travelling at 60mph. She and partner were prepared and survived in their underground steel box in their garage floor. She wrote about the experience  in a short series of posts which graphically illustrate why "total destruction" needs to be considered to be a practical reality
  • Surviving the Storm - tells the story of the storm and their response to it
  • A Most Unearthly Sound - you can see what happened to her studio, as the house and oak trees were flattened and the garage blew away
  • Love, Sweat and Helping Hands - explains how the community responds and the many tasks involved in putting life back together - plus images of the devastation.
  • Anatomy of a Tornado covers exactly what happened
  • Tornado Chronicles, continued: the stuff we lost, the stuff we found
Picture
Debbi Kaspari's home in shambles under fallen tree trunks, branches and crowns.

HURRICANES, FLOODING & WATER DAMAGE: CASE STUDIES
​

Below you can see articles and images relating to destruction associated with:
  • Superstorm Sandy (2012) - which hit art galleries in New York very badly
  • Hurricane Harvey (2017) which hit artists homes / stock / studios in the southern states of the USA
  • Hurricane Irma (2017) which hit artists homes / stock / studios in Florida

Many dealers are not openly discussing their losses pending talks with restorers, insurance agents and lawyers, not to mention artists.
Insurance companies now routinely send engineers to individual galleries, and have specific requirements about conditions. ​
...premiums will likely vary on a number of factors.  These include the type of art (some types being more fragile than others), the geographic location (risk of flood, hurricane, or wildfire), the specific location (public display or private collection), whether the art is stored in a vacant facility or not, and how frequently the art will be moved.  Lexology
“Climate change is a great concern to the art insurance industry, particularly because of the hurricanes we are seeing,”
Colin Quinn, director of claims management at AXA Art Insurance.
New York Art Galleries were hit hard by Superstorm Sandy in 2012 when it flooded the city - reaching five feet in depth in some of the Chelsea streets where many art galleries were located.  Afterwards the priorities were renovation of the buildings and restoration of the art
  • How both art and commerce were sunk is covered in The Sinking of 22nd Street
  • Chelsea Art Galleries Struggle to Restore and Reopen - art galleries were hit hard when New York was flooded.
  • New York's Chelsea art galleries soaked by Sandy - details the practical impact on art galleries
  • The Art World After the Storm: Chelsea Dealers Still in Recovery Two Years From Sandy - tells the story of what happened next
  • Art insurance rates in Manhattan drop (plus tips on art insurance!) | Lexology - After the storm, it was predicted that the art insurance industry would react with higher premiums, which would then taper back to normal. ​
  • Storm Leaves Residue of Questions | New York Times - lots of detail about the type of destruction and the remedies employed - including how the insurance companies responded
  • The Art of Art Insurance: A Practical Guide for Artists, Galleries, and Collectors - includes stories of what happened to some of the claims following Hurricane Sandy
TIPS FOR ARTISTS, ART GALLERIES AND ART COLLECTORS
  1. Don't Cut Corners
  2. Artists Studios need insurance too
  3. Mediate Risk with Design and a Disaster Plan
  4. Risk Allocation: Know Who’s Responsible, and When
  5. Cooperate With Your Insurance Company
  6. Appraise Your “Assets” Regularly
  7. Help Each Other Out
Read the stories behind these tips in The Art of Art Insurance: A Practical Guide for Artists, Galleries, and Collectors ​ 

Did you know that if the artist is still living that only they can determine whether and how the artwork is repaired?

FLOODING CASE STUDY - HOUSTON

Here’s a List of Emergency Resources for Houston Artists:https://t.co/vgEHcMQYf7 pic.twitter.com/m4KTWCVMAn

— Glasstire (@Glasstire) August 28, 2017

One of the many Houston Artists that need assistance. https://t.co/VeiqeLG8qn

— William H. Miller (@whimdesigns) August 28, 2017
Houston Art Galleries were prepared for the devastating rain and flooding associated with Hurricane Harvey.
  • This Is How Museums In And Around Houston Prepared For Tropical Storm Harvey | HuffPost



Houston Artists were less prepared. Many have suffered significant losses of artwork, materials and studios.  Many don't have insurance to help support their recovery. However the local arts groups have rallied around and are supporting artists getting back on their feet
  • Texas Arts Groups Gather Resources for Artists Impacted by Hurricane Harvey | Hyperallergic
  • ​The "Emergency Resources for Artists Google Spreadsheet" was organised by Fresh Arts, a Houston Organisation (link to the spreadsheet is no longer live)

FLOODING CASE STUDY - HURRICANE IRMA

Insurers are getting more savvy about how to protect their clients from submitting huge insurance claims!
  • Protecting Andy Warhol From Flood, Fire and Quake | New York Times - details what now happens in relation to actions to mitigate insurance payouts re. the art collections of high net worth individuals
  • Miami Artists and Museums Brace for Hurricane Irma | Artsy - details the nature of preparations
  • Arts Institutions Brace for Hurricane Irma Impact | ARTNEWS
Believing that an ounce of prevention is worth a pound of cure, some insurers will send in specialists to prepare a home for disaster, for instance, while others will pay to move valuables out of harm’s way.
New York Times

Museums and cultural institutions across Miami are preparing as well, announcing widespread closures and watching the weather in advance of potential landfall. .... museums in Miami have well-developed plans for securing and transporting artworks in the event of extreme weather.
Artsy
In general, artists had better warnings about what they needed to think about both before and after the flooding associated with recent hurricanes.
  • Cerf+ The Artists Safety Net - this is an invaluable site for anybody in the 
  • CERF+ - The Studio Protector - an online guide in what to do get ready, get relief and stay connected.

​Below is a very useful video about what to do if a flood damages your studio - including WARNINGS about the risks associated with floods (e.g. toxic mould which can damage your lungs)
A flood is not water. A flood is a toxic substance usually. 
Protect yourself video

Art Conservators Set Up Hotline For Harvey, Irma Art Rescue https://t.co/omK7VuMITo #Art #contemporaryart #abstractart #modernart #visualart pic.twitter.com/52wmM8J2rz

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Insurance: Information & Advice 

Posts providing information and advice for artists about insurance are few and far between - hence why this resource was developed in the first place. As I find new and useful links to advice online I'll be adding them into this section.

Making A Mark: insurance for art, artists and the art business
  • Insurance for Artists - can you help?
    Artists Insurance is one of those technical aspects of being an artist which is apt to catch us out from time to time - and it's always good to know what our options are!
  • POLL: Do you insure your art and art business?
    March's Making A Mark Poll enquires into your insurance of your art and art business? Specifically it asks What aspects of your art and art business do you insure?
  • Do you need insurance to run an art class? - The short answer is "Yes" - insurance is needed for an art class because the public are involved.
More about insurance for art at peril from the weather / natural environment
  • Shielding Art From Wicked Weather | | Risk and Insurance (By: Steve Yahn October 15, 2015)  - In response to a need to protect fine art and other collectibles from natural catastrophes, the art warehouse industry is on the rise. 
More about insurance for artists and art businesses
  • Insure Your Artwork and Studio By Steve Yahn| Professional art Magazine - reviews the different types of insurance an artist needs and potential sources of policies​
  • Is Your Art Business Prepared For Disaster? | Art Biz Blog - Work on things you can control and mitigate the effects of a natural or manmade disaster. These tips were generated with the help of CERF+
  • Q and A with Donna Anderson of The Exhibition Alliance on Art Insurance - provides information about art insurance for artists, exhibitions, and museums.
  • Insurance for Art - Laura C. George - Laura reviews the different types of reasons why you may need insurance and offers suggestions
  • 5 Insurance tips for artists | Artwork Archive - makes the case for photographing and documenting everything
More about insurance for art being transported
  • Art on the Move | Risk and Insurance (By: Steve Yahn April 8, 2015) - Underwriting the transportation of fine art is tricky, but some large insurers are keeping the market covered. 
federal law permits interstate freight carriers to limit their responsibility to a nominal sum even when the damage is caused by their negligence

Insurance - Working from Home

Working from home may
  • involve activities not covered by your domestic insurance.
  • invalidate your domestic buildings and contents insurance

For example: third party public liability arises if people have an accident in your home (eg during tuition provided at home; visitors to your home studio). They are NOT there as domestic visitors and covered by you home insurance. They are there because of your business and hence you're NOT covered by your house insurance - and indeed you may be invalidating your house insurance by running a business from home

Then there's
  • employers’ liability insurance - if you employ anybody to help you
  • cover for all business oriented equipment and stock kept at home (i.e. non-domestic contents)
  • cover for goods in transit or products liability

Don't forget - dealing with the insurance aspects does not mean you have addressed all the other relevant matters such as planning permission; mortgagor or leaseholder consent and tax implications on sale of your house (see Selling Art from Home)
DO NOT FORGET TO READ THE SMALL PRINT!
Even if you secure insurance for working from home, you have not finished.

Check whether the domestic insurer for your house and contents is happy with this. I recommend you start by reading all the small print and the statements you make in agreeing to insurance cover to ensure that one does not invalidate the other!

Why? If you don't tell your insurer re buildings and contents that you work from home and you make a claim in the future, the insurance company may decide not to pay out.

Check whether any agreement or discounted price ties you to an insurer for a specific time period longer than a year.

Why? You pay far more than you need to for longer than you need to.


ART APPRAISAL - for insurance purposes

An Art Appraisal is an Independent Valuation of the worth or replacement value of an artwork by a qualified third party with relevant expertise and knowledge. (e.g. an individual or company with no financial interest)

Art Appraisal can be for various purposes (donation, tax, divorce, mediation, liquidation, replacement, and inheritance) but one of the main reasons for appraisal is for insurance.

Insurance companies pay out for artwork that is lost, stolen, damaged or destroyed - not on what YOU think art is worth - but rather on what an independent assessment by a qualified appraiser says art is worth.

Artwork which is damaged rather than destroyed needs to be evaluated in terms of what it might cost to remedy the damage.
Documentation required for Art Insurance Appraisals:
  • good quality (high resolution) images of the art
  • details of dimensions of the artwork, media and presentation - and artist
  • original documentation in terms of purchase (e.g. invoices) or sales records (depending on whether you are the art collector, art gallery or artist)
  • third party records of sales e.g. by galleries or auction houses
  • recent sales records for price comparison purposes

Sales records which relate to sales to friends and family have no intrinsic value in terms of establishing a marketplace valuation.

Archival Records: In the event of fire or other destruction, it can be a sensible idea to have all records in relation to valuation of artwork archived in a place separate from where the art is kept.
Items of Record for an Art Appraisal
  • Title
  • Artist
  • Description
  • Medium
  • Dimensions
  • Dating of the object
  • Authorship (certificate if applicable)
  • Markings
  • Condition of the artwork – previous restorations
  • Provenance: an object's history of ownership or its association with a significant collection
  • Edition: Number and Size
  • Historical/cultural relevance
  • Exhibition History
  • Publication History
  • Rarity
  • Style and Trends
....an artist is not necessarily the best source for valuing their art, especially if there are limited documented records of their sales. Price estimates from the artist are important to consider when determining values for their work, but since almost every artist wants their art to be worth as much as possible, simply expecting third-parties to take their word on prices is usually not enough. Insurance companies know this well and can choose to dispute an artist's valuation of their art if necessary.
Art Appraising and Valuation | Artbusiness.com
REFERENCE:
  • Valuations | Sothebys
  • How is an artwork appraised? | Christie's
  • How Much Is Your Object Worth? - Researching Your Art | The Smithsonian American Art Museum
  • Appraisals Reseach Guide | Getty Institute
  • Guide to Professional Valuation of Your Collection | Artwork Archive
  • Art Appraising and Valuation - For Legal or Insurance Purposes | Artbusiness.com
  • Why Having Your Art Appraised is a Good Idea - Advantages of Professional Art Pricing | Artbusiness.com
ONLINE PRICING RESOURCES:
These can help to establish reference prices - some require a subscription to access pricing data
  • invaluable.com
  • artprice.com
  • artnet.com
  • AskArt.com
  • FindArtinfo.com
  • MutualArt.com

SOCIETIES OF APPRAISERS
These support people wanting to become appraisers and are not really geared up for those wanting appraisals. However they can provide some educational courses accessible to non-members.
  • American Society of Appraisers
  • International Society of Appraisers (Chicago)
  • Appraisers Association of America (New York) Note: website is not secure

INSURANCE POLICIES for artists and art collections

Over time, I aim to try and crowd-source recommendations about different insurers - and which to avoid.  If you have any specific recommendations please email me (see form at end)

This is a link to information on separate pages about 
  • UK: Insurance Policies for art and artists - Policies for artists, art teachers, trustees and art collectors ​covering art, art classes, exhibitions, transit and employer's and public liability
  • USA & Canada: Insurance policies for art and artists - links to information about policies relating to the USA & Canada for: Artists, Artisans and Art Studios; Art Businesses; Art Galleries and Art Fairs and Art Collections 

Insurance for Artists in Ireland - I recommend you review Insurance for Artists by Visual Artists Ireland which provides information and recommendations about insurance brokers in Ireland who deal with artists
DISCLAIMER:
The inclusion of a link to a website does NOT endorse or otherwise indicate the organisation provides either a reputable and effective service.

However one has to start somewhere when inviting quotes!

Insurance - Commissions / Public Art

A very specialist area of art insurance relates to:
  • the delivery of artwork for corporate commissions and/or
  • public art installations

You cannot assume that an insurer covering art will automatically provide this cover.

As an artist you also need to be very clear as to who is liable (the artist or the commissioner) for what aspects of damage covered by insurance
e.g. failure to deliver to 'time is of the essene' deadline and damage to the art after installation.

If you are liable as an artist then the cost of the insurance premiums rolling forward need to be prived into the quotation given for the piece.
REFERENCE:
  • The CODAworx Commission Artist General Liability Insurance Program - This insurance relates to site-specific installations being created for airports, hotels, healthcare facilities, high-end residential developments, as well as public art and corporate commissions.

Are you disaster resilient? Do you use risk management?
​

One of the ways of
  • reducing the need to make a claim
  • reducing the premium you need to pay
is by adopting a risk management strategy towards your art collection, art studio, art storage, art gallery, art school etc etc 

READ MORE about Risk Management 

The International Council of Museums has decided it needs to develop a NEW ICOM-Disaster Resilient Museums Committee.

REFERENCE:
  • A new International Committee for disaster resilient museums | International Council for Museums


Would you care to share?
​

QUERIES:  
Do you have any queries about insurance for art and artists?

(I can't promise to be able to provide answers but your questions will help inform the development of this page.)


RECOMMENDATIONS:  
Do you know of any companies or sites which you would be happy to recommend?
​


PLEASE SHARE:  
If you think this site would be useful to other artists you know please share it
- social icons can be found below and at the top of the page.

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