Art Insurance Policy
Provides essential protection for valuable artworks against risks such as theft, damage, or loss
Why Art Insurance Matters
What is Art Insurance?
An Art Insurance Policy provides comprehensive protection to artwork like paintings and sculptures from uncertainties such as physical damage, theft, and accident. It provides compensation to the insured in the event of physical loss or damage to these valuable art items.
What Does Art Insurance Policy Cover?
An Art Insurance Policy covers valuable assets or forms of art, including drawings, paintings, sculptures, stamps, coins, watches, and books. These forms of art can be insured under the Art Insurance Policy in India. This Art Insurance cover includes:
Eligibility Criteria
Anybody possessing antique furniture, fine art, musical instruments, idols, and sculptures can buy this cover to protect the important collectibles against unpredicted damage or loss.
Exclusions Under Art Insurance Policy
An Insurance firm, known as Insurer, is not liable to pay if the insured claims due to the following events:
1. Damage caused due to repairing, restoring, or retouching2
2. Damage because of natural wear and tear, rust or oxidation
3. Consequential loss
4. Loss or damage arising out of nuclear reaction, radiation, or radioactive contamination
5. Loss from unattended vehicles
6. Mystical disappearance or unexplainable loss
7. Damage due to humidity, exposure to powerful light or extreme temperatures
How to get the best policy
Find a specialized industrial insurance policy provider
You must deal with specialists. Since specialized insurance companies that deal with Art Insurance Policy can give you a comprehensive solution. You need to search for one skilled insurance service provider.
Run a comparison study
You can find several sites offering you information about the various insurance providers, their policies and reviews. By running a comparison study, you can easily find an insurance company that is right for your needs and requirements.
Seek professional help
It would be advisable to find professional help to understand the policy, because, at times, it can be too technical for you to understand, and a person who is expert in the insurance business can help you in spotting the right kind of policy for your business. The insurance expert can make you understand the legal terms associated with the policies.
Read the terms and conditions carefully
You should read the terms and conditions. For instance, you need to know about the social exclusions, the add-ons of the policy, and more. Hence, take out some time and read the terms and condition carefully before buying the insurance plan.
Never let the business be vulnerable to the unpredictability of nature and happenings. You can keep everything under control by availing the best Art Insurance Policy for your business and act with a sense of urgency when things go wrong without prior notice. So, stay safe.