Insurance for art

Key takeaways

• A standard home insurance policy may cover your pieces of art, but this will be subject to a single-item limit, so high-value items will need to be listed individually

• Specialist art insurance policies offer higher limits on cover, as well as appreciation in value and a less frequent need to update your listings

• These policies also extend extra cover for accidental damage, disfigurement, breakage and theft

Is my art covered by standard home insurance?

While home insurance will offer a certain level of protection for your contents if they’re lost, damaged or stolen, these policies usually come with a single-item limit. You’ll need to declare any valuable items separately, and even then, most insurers will cover high-value items up to 20-30% of the total insured sum.

Do I need art insurance?

If you want comprehensive cover for your valuable pieces of art, a specialist policy is likely the best way to get the right protection. They’re designed to cover high-value items like sculptures, paintings and one-of-a-kind artwork that cannot be replaced.

What does specialist art insurance cover?

When you take out a specialist fine art insurance policy, you’ll get much of the same standard cover that comes with contents insurance, such as accidental damage, theft, and loss. The distinction is that the amount you’ll be covered for will be enough to account for the art’s high value.

However aside from this, art insurance also offers specialist cover that factors for unique issues and circumstances that can affect your collection:

What won’t be covered by a specialist art insurance policy?

As with any other kind of insurance policy, you can expect certain exclusions that mean you won’t be able to claim for:

• Routine repairs, maintenance, servicing and cleaning

• Cosmetic damaged that occurs as a result of the above

• Theft due to negligence i.e. unlocked doors, windows or vehicles

• Damage that results from wear and tear, pests or vermin, or atmospheric and climate-related conditions

What items are considered fine art?

Fine art can refer to a number of different valuable items that are appreciated for their aesthetic style of value. While it might differ between insurers, generally speaking the following items can be seen as fine art:

• Paintings, photographs and drawings

• Art prints

• Maps

• Decorative ornaments

• Porcelain, china, silverware, glassware and crystalware

• Rugs and tapestries

• Statues, sculptures and busts

• Collectible items

• Artefacts

How do I value artwork for insurance?

You can find auctioneers and professional art experts to value your pieces of art, and in fact insurers are likely to request this in order to get an idea of how much cover is needed.

It can also be a good idea as art can sometimes increase in value over time, so getting up-to-date valuations can make sure your insurance policy always has enough cover.

Compare home insurance for your artwork

Finding affordable home insurance for your valuable items is easier when you compare quotes with MoneySuperMarket. Just tell us about yourself, your property and the items you want to cover, and remember to list valuables separately, and we’ll search the market for deals that meet your requirements.