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Fine Art Collections

For those clients who love fine art and have invested in special pieces, getting the right insurance is crucial. It’s not just establishing the monetary value of the artwork that’s at issue. Getting appropriate insurance requires an understanding of the pieces, a knowledge of restoration specialists, and the ability to protect the art from damage in the first place.

At GMG Insurance, we get it. If your art is damaged, you don’t just want a payout. You want to salvage it if possible. Better yet, you want an insurer who knows art, knows collectors, and appreciates both.

What Constitutes “Art”

The category is broad, and your insurance policy needs to be clear as to what is covered under your inland marine, or personal articles floater, policy. A fine art insurance policy could cover paintings, sketches, tapestries, carvings, sculptures, glasswork, furniture and more—even clothing and film.

Your pieces should be authenticated, and it’s best if they are registered with a national art authority. That can make recovery easier should a piece be stolen. Our insurer partners work closely with these organizations to locate and return stolen art.

Policies can be written to reflect value in different ways, so your GMG Insurance agent will work with you and the insurer to find a way to establish value that suits you both. It doesn’t always correspond with what you paid for the piece, which is why having art experts at hand is critical.

Working With the Best

When you do have a claim, either for damage or theft, you’re not going to want to haggle. A well written policy with an excellent insurer usually minimizes conflict at claims time. Moreover, at GMG Insurance we’ll guide you through the claims process should you need it.

Our insurers offer broad access to quality salvage and restoration companies. They will make every effort to put your damaged pieces back to their original condition. If they can’t, you will be informed, and the compensation part of the process will begin. On the bright side, a skilled restorer can treat even the most delicate fabrics and paints without damage to the piece. Smoke, mold, mud and grease can often be removed without a trace.

Most of our insurers also offer damage prevention services, which include packing and moving high-end art out of harm’s way when, for example, a hurricane is coming or a wildfire threatens. They may also provide assistance and coverage if you lend your pieces for public display or need to transport your art to a different residence or location.

Insuring art is an art unto itself.

Turn to GMG Insurance for personalized attention on managing your assets and securing products that accommodate your lifestyle, now and as it changes over time. Contact us at (215) 497-9240; (800) 540-7900; or email at info@gmgins.com.