What does Art Insurance cover?

Описание: You’ve made the decision to buy Art & Collectable Insurance, but what do you actually get for your money?

The way to understand an insurance policy is to think of it in two parts:

• Part A: what ‘gets in’ to the policy i.e. falls within the ‘Insuring Clause’; and

• Part B: what gets ‘knocked out’ of the policy i.e. the policy exclusions?

So, with that in mind:

What is covered by Art Insurance?

All Risks of Physical Loss or Damage of whatsoever nature occurring during the period of insurance.

This is a broad description, and includes loss caused by fire, flood, accidental damage and theft. Most way’s a painting, coin or collectable could be damaged would be covered.

What is not covered?

You may think ‘ahh here we go – typical insurance company looking to exclude everything’, but in fact you might be very surprised. So, what’s not covered is loss or damage:

1. Sustained whilst under any repair, restoration or retouching process.

2. Caused by Wear and Tear, Gradual Deterioration, Moth, Vermin or Inherent Vice.

3. Caused directly or indirectly through terrorism, war,.

4. From Radiation or nuclear

5. Loss of electronic data

That’s it. There are a few extra conditions you might want to be aware of. Every insurance policy has ‘policy conditions’ that govern how you must behave.

For example, we expect that you will transport or store the assets in an appropriate fashion.

Also, to be clear, we don’t cover the loss in value of artwork because of downturn

What you will find is how much broader an Art policy is than a Home & Contents policy (although I’ll go into that I more detail in a separate video). If you would like a copy of our Art policy or would like us to do a free comparison of your current coverage please contact me on 1300 919 342.

To learn more about Art Insurance...
Visit: http://www.selfsuperinsurance.com.au
Phone: 1300 919 342
Visit: Self Super Insurance YouTube Channel
Twitter: @SelfSuperIns