Art transport insurance is a specialized form of coverage designed to protect valuable artworks during shipping. Whether you’re a collector, gallery owner, or museum curator, understanding the importance of this insurance is crucial to safeguarding your prized possessions.
By understanding the key factors to consider when choosing a policy, you can ensure that your artworks are adequately protected against potential risks such as damage, loss, or theft.
So let’s look at all the details in more depth!!
What Does Shipping Insurance For Artwork Cover?
Artwork insurance is a main safeguard for valuable artworks and collectibles during transportation. Given the frequent occurrence of art damage during shipment, relying solely on the shipping company is often insufficient.
These policies may have limited coverage for common causes of loss or restrict the recoverable amount.
To keep your art safe, it’s a good idea to use companies that specialize in moving art. These companies have experience and know how to handle artwork carefully. However, you should still take extra steps to protect your art. And the best way to do that is by getting insurance for it.
Research different companies in your area and ask for recommendations. Find out about the best ways to move and pack your art. And make sure you have enough insurance to cover the value of your artwork.
During delivery, fine art and collectibles are exposed to potential risks that can lead to damage if not properly packed and handled. These risks include:
- Theft: Similar to home burglaries, theft during transportation or storage is a covered cause of loss.
- Accidental Damage: With multiple handlers and temporary storage locations throughout the journey, artworks face a higher risk of accidental damage. Careful packing and handling are crucial at each stage of transportation.
Proper packing is most important for protecting artworks during delivery. Most importantly the choice of materials and techniques depends on the object’s shape, size, weight, material, and fragility.
By taking proactive steps and securing trusted art shipping insurance, you can significantly reduce the risk of damage during transportation and provide your clients with peace of mind.
What type of Art does Shipping Insurance Cover?
Shipping insurance for artwork protects your art and collectibles while they’re being moved from one place to another. This includes:
- Art You Own: If you own a piece of art, it’s covered when it’s being transported, no matter how it’s moved (by land, air, or sea).
- New Art: If you buy a new piece of art, it’s covered while it’s being shipped to your home.
- Art in Storage: If your art is stored in a warehouse while it’s being moved, it’s covered.
- Art on Tour: If your art is part of an exhibition that’s traveling, it’s covered.
- Art at Events: If your art is being moved to or from an art fair or exhibition, it’s covered.
Common artwork shipping insurance is designed to protect all your art and collectibles, no matter what kind of art you have. If you have a special situation, we can talk about it and find the right coverage for you.
What Are The Factors Affecting Artwork Shipping Insurance Costs?
Artwork shipping insurance is typically included as part of a broader Artwork policy. This complete coverage extends beyond transportation to protect your artworks and collectibles while being shipped to your destination.
Shipping insurance for artwork are determined by various factors, including:
- Size and Value of the Collection
The number and value of the insured items influence the insurance cost.
- Deductible
The amount you’re willing to pay out-of-pocket before insurance coverage kicks in affects the insurance amount.
- Type of Collectible
Different types of collectibles have varying risk profiles, impacting the cost.
- Location
The location(s) where the collection is stored and transported can influence the insurance cost too.
- Travel Frequency and Type
The frequency and method of transportation for the collection affect the risk.
- Type of Policy
The nature of the policyholder (personal collector, museum, art dealer, etc.) can impact the insurance costs.
For unusual artwork shipments, extra coverage can be bought. With costs based on factors like fragility, travel duration, distance, destination, and shipping method.
Conclusion
By understanding the importance of shipping insurance for artwork and taking steps to protect your valuable artworks. You can greatly reduce the risk of damage or loss during shipping your valuable items. So, choose reputable shipping companies such as ShipSimple, pack your art carefully, and get enough insurance coverage. As artwork shipping insurance is not just a financial investment; it’s an investment in protecting your art. By prioritizing protection, you can make sure your art arrives safely and stays in great condition for years to come. So what are you waiting for? Contact us today and learn more about artwork insurance!
