Lazarus II
Junior Member
Posts • 1,801
Likes • 2,427
August 2019
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Art Insurance in the UK, by Lazarus II on Sept 22, 2020 9:29:10 GMT 1, My home insurance is with directline select and they specifically exclude art and prints but cover the remaining contents. I took separate insurance via Hiscox for art and prints.
My home insurance is with directline select and they specifically exclude art and prints but cover the remaining contents. I took separate insurance via Hiscox for art and prints.
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GMA
Junior Member
Posts • 1,962
Likes • 2,994
October 2015
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Art Insurance in the UK, by GMA on Sept 22, 2020 10:33:02 GMT 1, I don't get why you would even needed to tell them if you have a separate insurance policy for it. One policy is for the house, the other for art. They're an insurance company, they'll bleed you dry and any opportunity to increase the premiums, they'll take it.
I don't get why you would even needed to tell them if you have a separate insurance policy for it. One policy is for the house, the other for art. They're an insurance company, they'll bleed you dry and any opportunity to increase the premiums, they'll take it.
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photoluka
New Member
Posts • 7
Likes • 3
April 2007
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Art Insurance in the UK, by photoluka on Sept 22, 2020 11:29:34 GMT 1, I agree, you shouldn't need to declare to your house insurer. They won't insure your art past a certain value c£10k and i never had them say they wouldn't insure me because of my art. That's where there interest should end.
I used Ultimart for the art insurance. I thought their benefits were better than Hiscox, their market value increase coverage was better too which in the current climate was a key decision for me.
I agree, you shouldn't need to declare to your house insurer. They won't insure your art past a certain value c£10k and i never had them say they wouldn't insure me because of my art. That's where there interest should end.
I used Ultimart for the art insurance. I thought their benefits were better than Hiscox, their market value increase coverage was better too which in the current climate was a key decision for me.
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disturbart
New Member
Posts • 742
Likes • 294
September 2014
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Art Insurance in the UK, by disturbart on Sept 22, 2020 14:16:32 GMT 1, I agree, you shouldn't need to declare to your house insurer. They won't insure your art past a certain value c£10k and i never had them say they wouldn't insure me because of my art. That's where there interest should end. I used Ultimart for the art insurance. I thought their benefits were better than Hiscox, their market value increase coverage was better too which in the current climate was a key decision for me. The reason why you need to tell your house insurer is because you will find you have not answered the questions truthfully. When you take out a policy and when your art collection goes up in value you need to inform them as per the terms and conditions. If you do not, you are therefore not covered for any insurance. If you have an art collection worth say £100 or £200k you are seen as a higher risk and most companies will not insure you for any contents even if they are not covering the art.
I agree, you shouldn't need to declare to your house insurer. They won't insure your art past a certain value c£10k and i never had them say they wouldn't insure me because of my art. That's where there interest should end. I used Ultimart for the art insurance. I thought their benefits were better than Hiscox, their market value increase coverage was better too which in the current climate was a key decision for me. The reason why you need to tell your house insurer is because you will find you have not answered the questions truthfully. When you take out a policy and when your art collection goes up in value you need to inform them as per the terms and conditions. If you do not, you are therefore not covered for any insurance. If you have an art collection worth say £100 or £200k you are seen as a higher risk and most companies will not insure you for any contents even if they are not covering the art.
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disturbart
New Member
Posts • 742
Likes • 294
September 2014
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Art Insurance in the UK, by disturbart on Sept 22, 2020 14:18:34 GMT 1, My home insurance is with directline select and they specifically exclude art and prints but cover the remaining contents. I took separate insurance via Hiscox for art and prints. Just spoke to them. Its all or nothing with direct line select. Waiting for their quote.
My home insurance is with directline select and they specifically exclude art and prints but cover the remaining contents. I took separate insurance via Hiscox for art and prints. Just spoke to them. Its all or nothing with direct line select. Waiting for their quote.
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Lazarus II
Junior Member
Posts • 1,801
Likes • 2,427
August 2019
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Art Insurance in the UK, by Lazarus II on Sept 22, 2020 14:22:19 GMT 1, My home insurance is with directline select and they specifically exclude art and prints but cover the remaining contents. I took separate insurance via Hiscox for art and prints. Just spoke to them. Its all or nothing with direct line select. Waiting for their quote. interesting, im still with them and have renewed for a few years now but excluding art and prints.
My home insurance is with directline select and they specifically exclude art and prints but cover the remaining contents. I took separate insurance via Hiscox for art and prints. Just spoke to them. Its all or nothing with direct line select. Waiting for their quote. interesting, im still with them and have renewed for a few years now but excluding art and prints.
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jamieb
New Member
Posts • 673
Likes • 515
December 2007
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Art Insurance in the UK, by jamieb on Sept 22, 2020 14:32:13 GMT 1, I'm with Directline and only renewed literally yesterday.
They are happy to insure my Banksy for £60k up from £25k last year as it's gone nuts. It's specially listed on my policy, the lady (Lisa in Bristol) had to speak to head office and the underwriters, then she called me back to tell me it was approved, we actually had a good chat about the Bristol show.
My contents insurance does need to be high enough to include it and everything else.
They do have some stipulations about locks and that I have to have a monitored alarm, but I have that anyway.
I'm with Directline and only renewed literally yesterday.
They are happy to insure my Banksy for £60k up from £25k last year as it's gone nuts. It's specially listed on my policy, the lady (Lisa in Bristol) had to speak to head office and the underwriters, then she called me back to tell me it was approved, we actually had a good chat about the Bristol show.
My contents insurance does need to be high enough to include it and everything else.
They do have some stipulations about locks and that I have to have a monitored alarm, but I have that anyway.
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Lazarus II
Junior Member
Posts • 1,801
Likes • 2,427
August 2019
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Art Insurance in the UK, by Lazarus II on Sept 22, 2020 14:43:15 GMT 1, I agree, you shouldn't need to declare to your house insurer. They won't insure your art past a certain value c£10k and i never had them say they wouldn't insure me because of my art. That's where there interest should end. I used Ultimart for the art insurance. I thought their benefits were better than Hiscox, their market value increase coverage was better too which in the current climate was a key decision for me. The reason why you need to tell your house insurer is because you will find you have not answered the questions truthfully. When you take out a policy and when your art collection goes up in value you need to inform them as per the terms and conditions. If you do not, you are therefore not covered for any insurance. If you have an art collection worth say £100 or £200k you are seen as a higher risk and most companies will not insure you for any contents even if they are not covering the art. its all about risk profile and if you have £250k worth of art not covered by your home and contents insurer they will defo want to know about it !
I have been with directline select for years and still am for everything except art, it was too much hassle a few years back so i insured the art with hiscox. I also ended up with a new alarm system that cost me a small fortune at directlines insistence.
I agree, you shouldn't need to declare to your house insurer. They won't insure your art past a certain value c£10k and i never had them say they wouldn't insure me because of my art. That's where there interest should end. I used Ultimart for the art insurance. I thought their benefits were better than Hiscox, their market value increase coverage was better too which in the current climate was a key decision for me. The reason why you need to tell your house insurer is because you will find you have not answered the questions truthfully. When you take out a policy and when your art collection goes up in value you need to inform them as per the terms and conditions. If you do not, you are therefore not covered for any insurance. If you have an art collection worth say £100 or £200k you are seen as a higher risk and most companies will not insure you for any contents even if they are not covering the art. its all about risk profile and if you have £250k worth of art not covered by your home and contents insurer they will defo want to know about it ! I have been with directline select for years and still am for everything except art, it was too much hassle a few years back so i insured the art with hiscox. I also ended up with a new alarm system that cost me a small fortune at directlines insistence.
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Art Insurance in the UK, by crashwilliams on Sept 22, 2020 15:17:13 GMT 1, A timely thread, I've literally just chatted with Hiscox - took five mins and I will know my cost in the next twenty-four hours...
My notes form the call - there's no particular requirement for security at home, they don't suggest particular alarm system, nor does it have to be connected to a police/monitor station. The guy said that i'll notice in the terms, that you must take 'reasonable care' - so if you go on holiday/leave the house then you lock up etc (!)
There's also no excess, if stolen or damaged they will pay up (after obviously investigating) - though they will only pay to the value you've insured your item(s) for (so if the prices keep going up ala Banksy) you have to keep them updated - I forgot to ask whether there is a cost attached to this, i'm guessing yes.
For pieces in excess of £50k then you have to specify what that piece is and what the value of said piece is.
They don't ask you to prove the value now, however if you were to claim then they would would want proof of ownership (COA etc) and proof of value - recent auctions etc being acceptable.
This was really straight forward and I was impressed at how quick it happened - lets see what the cost is.
A timely thread, I've literally just chatted with Hiscox - took five mins and I will know my cost in the next twenty-four hours...
My notes form the call - there's no particular requirement for security at home, they don't suggest particular alarm system, nor does it have to be connected to a police/monitor station. The guy said that i'll notice in the terms, that you must take 'reasonable care' - so if you go on holiday/leave the house then you lock up etc (!)
There's also no excess, if stolen or damaged they will pay up (after obviously investigating) - though they will only pay to the value you've insured your item(s) for (so if the prices keep going up ala Banksy) you have to keep them updated - I forgot to ask whether there is a cost attached to this, i'm guessing yes.
For pieces in excess of £50k then you have to specify what that piece is and what the value of said piece is.
They don't ask you to prove the value now, however if you were to claim then they would would want proof of ownership (COA etc) and proof of value - recent auctions etc being acceptable.
This was really straight forward and I was impressed at how quick it happened - lets see what the cost is.
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photoluka
New Member
Posts • 7
Likes • 3
April 2007
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Art Insurance in the UK, by photoluka on Sept 22, 2020 15:47:05 GMT 1, The reason why you need to tell your house insurer is because you will find you have not answered the questions truthfully. When you take out a policy and when your art collection goes up in value you need to inform them as per the terms and conditions. If you do not, you are therefore not covered for any insurance. If you have an art collection worth say £100 or £200k you are seen as a higher risk and most companies will not insure you for any contents even if they are not covering the art. its all about risk profile and if you have £250k worth of art not covered by your home and contents insurer they will defo want to know about it ! I have been with directline select for years and still am for everything except art, it was too much hassle a few years back so i insured the art with hiscox. I also ended up with a new alarm system that cost me a small fortune at directlines insistence. That makes sense and point taken, but whenever I've a home insurer and asked do they insure art, and they've said "yes but only up to X value" they've never said "well in that case.. what is the value of x art" and/or "you need to take extra provisions". My terms say you must just answer the questions they ask you accurately which i always have. I've always just been advised they wont cover it and you will need to arrange separate insurance.
Likewise no requirements from Ultimart for additional security, in fact they cover you if you forget to lock your door!?
The reason why you need to tell your house insurer is because you will find you have not answered the questions truthfully. When you take out a policy and when your art collection goes up in value you need to inform them as per the terms and conditions. If you do not, you are therefore not covered for any insurance. If you have an art collection worth say £100 or £200k you are seen as a higher risk and most companies will not insure you for any contents even if they are not covering the art. its all about risk profile and if you have £250k worth of art not covered by your home and contents insurer they will defo want to know about it ! I have been with directline select for years and still am for everything except art, it was too much hassle a few years back so i insured the art with hiscox. I also ended up with a new alarm system that cost me a small fortune at directlines insistence. That makes sense and point taken, but whenever I've a home insurer and asked do they insure art, and they've said "yes but only up to X value" they've never said "well in that case.. what is the value of x art" and/or "you need to take extra provisions". My terms say you must just answer the questions they ask you accurately which i always have. I've always just been advised they wont cover it and you will need to arrange separate insurance. Likewise no requirements from Ultimart for additional security, in fact they cover you if you forget to lock your door!?
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ab3
New Member
Posts • 325
Likes • 533
December 2017
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Art Insurance in the UK, by ab3 on Sept 22, 2020 15:57:20 GMT 1, I was a bit worried about this and different insurance companies passing the buck. (We all know that they will do anything they can to get out of paying money out.)
So I asked Brownhill who manage / work with / have some sort of connection with Hiscox Art insurance for a home insurance quote when mine was up in Feb. So that I could get home and art all through one broker, that way if there was an issue they could sort it all out.
They got me a competitive quote from Aviva Home and Life so now my art and home insurance is through one company and they can't say they didn't know about it.
I was a bit worried about this and different insurance companies passing the buck. (We all know that they will do anything they can to get out of paying money out.)
So I asked Brownhill who manage / work with / have some sort of connection with Hiscox Art insurance for a home insurance quote when mine was up in Feb. So that I could get home and art all through one broker, that way if there was an issue they could sort it all out.
They got me a competitive quote from Aviva Home and Life so now my art and home insurance is through one company and they can't say they didn't know about it.
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Larry David
New Member
Posts • 835
Likes • 1,142
April 2014
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Art Insurance in the UK, by Larry David on Sept 22, 2020 17:14:45 GMT 1, Just gone through the same process as many others, with all the recent madness Hiscox kindly decided to triple my premium. I tried Brownhills, they wanted my Alarm connected to Police / call centre etc.
I ended up using A plan, a third cheaper than Hiscox with better cover. Only have to list pieces over £50k.
Only thing they ask for is independent valuations. Just for the record I have nothing to do with A plan, just found them very helpful and happened to offer the best premium / cover.
Just gone through the same process as many others, with all the recent madness Hiscox kindly decided to triple my premium. I tried Brownhills, they wanted my Alarm connected to Police / call centre etc.
I ended up using A plan, a third cheaper than Hiscox with better cover. Only have to list pieces over £50k.
Only thing they ask for is independent valuations. Just for the record I have nothing to do with A plan, just found them very helpful and happened to offer the best premium / cover.
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londonfx
Junior Member
Posts • 1,163
Likes • 707
December 2013
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Art Insurance in the UK, by londonfx on Sept 23, 2020 23:21:18 GMT 1, A timely thread, I've literally just chatted with Hiscox - took five mins and I will know my cost in the next twenty-four hours... My notes form the call - there's no particular requirement for security at home, they don't suggest particular alarm system, nor does it have to be connected to a police/monitor station. The guy said that i'll notice in the terms, that you must take 'reasonable care' - so if you go on holiday/leave the house then you lock up etc (!) There's also no excess, if stolen or damaged they will pay up (after obviously investigating) - though they will only pay to the value you've insured your item(s) for (so if the prices keep going up ala Banksy) you have to keep them updated - I forgot to ask whether there is a cost attached to this, i'm guessing yes. For pieces in excess of £50k then you have to specify what that piece is and what the value of said piece is. They don't ask you to prove the value now, however if you were to claim then they would would want proof of ownership (COA etc) and proof of value - recent auctions etc being acceptable. This was really straight forward and I was impressed at how quick it happened - lets see what the cost is.
Just done the same. waiting for the quote to come back from the underwriters.
Important to note that they will only pay out for the specific amount you have listed. There’s no limited or admin fee for changing the valuations.
I’ve heard of people needing to get monitored alarm systems. Maybe that’s due to their collection being over a certain value?!
My home insurance is with Halifax. And their happy for hiscox to insure my art separately.
A timely thread, I've literally just chatted with Hiscox - took five mins and I will know my cost in the next twenty-four hours... My notes form the call - there's no particular requirement for security at home, they don't suggest particular alarm system, nor does it have to be connected to a police/monitor station. The guy said that i'll notice in the terms, that you must take 'reasonable care' - so if you go on holiday/leave the house then you lock up etc (!) There's also no excess, if stolen or damaged they will pay up (after obviously investigating) - though they will only pay to the value you've insured your item(s) for (so if the prices keep going up ala Banksy) you have to keep them updated - I forgot to ask whether there is a cost attached to this, i'm guessing yes. For pieces in excess of £50k then you have to specify what that piece is and what the value of said piece is. They don't ask you to prove the value now, however if you were to claim then they would would want proof of ownership (COA etc) and proof of value - recent auctions etc being acceptable. This was really straight forward and I was impressed at how quick it happened - lets see what the cost is. Just done the same. waiting for the quote to come back from the underwriters. Important to note that they will only pay out for the specific amount you have listed. There’s no limited or admin fee for changing the valuations. I’ve heard of people needing to get monitored alarm systems. Maybe that’s due to their collection being over a certain value?! My home insurance is with Halifax. And their happy for hiscox to insure my art separately.
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JAlternatión
Junior Member
Posts • 1,268
Likes • 963
December 2011
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Art Insurance in the UK, by JAlternatión on Sept 23, 2020 23:34:32 GMT 1, Have been with Hiscox for a year and just increased my cover significantly for very little difference in premium. Very happy
Have been with Hiscox for a year and just increased my cover significantly for very little difference in premium. Very happy
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robo
Junior Member
Posts • 1,578
Likes • 1,002
November 2006
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Art Insurance in the UK, by robo on Sept 24, 2020 7:49:52 GMT 1, Be wary of having 2 insurers and check the small print no matter what people say on the phone. I’ve not found a regular home insurer who will not consider a separately insured art collection or an art collection over a certain value invalidates your policy with them. It’s because you are considered increased risk. Also be wary of what might happen when you tell your regular home insurer about your art. A friend called his home insurer to discuss his art and they literally cancelled his policy during the call. I do have a good art insurance broker I’ve used for several years and can recommend - PM me if of interest.
Be wary of having 2 insurers and check the small print no matter what people say on the phone. I’ve not found a regular home insurer who will not consider a separately insured art collection or an art collection over a certain value invalidates your policy with them. It’s because you are considered increased risk. Also be wary of what might happen when you tell your regular home insurer about your art. A friend called his home insurer to discuss his art and they literally cancelled his policy during the call. I do have a good art insurance broker I’ve used for several years and can recommend - PM me if of interest.
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disturbart
New Member
Posts • 742
Likes • 294
September 2014
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Art Insurance in the UK, by disturbart on Sept 24, 2020 8:16:48 GMT 1, Be wary of having 2 insurers and check the small print no matter what people say on the phone. I’ve not found a regular home insurer who will not consider a separately insured art collection or an art collection over a certain value invalidates your policy with them. It’s because you are considered increased risk. Also be wary of what might happen when you tell your regular home insurer about your art. A friend called his home insurer to discuss his art and they literally cancelled his policy during the call. I do have a good art insurance broker I’ve used for several years and can recommend - PM me if of interest. Agree with all of the above. I phoned my insurer and they said I had a week to find a new provider and my insurance would not be valid after 7 days. As with the above poster, I have not been able to find a company that will insure your home and exclude your art collection once its above a certain value. Just insuring your art with Hiscox or a n other does not work Im afraid so beware!!!!
Be wary of having 2 insurers and check the small print no matter what people say on the phone. I’ve not found a regular home insurer who will not consider a separately insured art collection or an art collection over a certain value invalidates your policy with them. It’s because you are considered increased risk. Also be wary of what might happen when you tell your regular home insurer about your art. A friend called his home insurer to discuss his art and they literally cancelled his policy during the call. I do have a good art insurance broker I’ve used for several years and can recommend - PM me if of interest. Agree with all of the above. I phoned my insurer and they said I had a week to find a new provider and my insurance would not be valid after 7 days. As with the above poster, I have not been able to find a company that will insure your home and exclude your art collection once its above a certain value. Just insuring your art with Hiscox or a n other does not work Im afraid so beware!!!!
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Mass
New Member
Posts • 163
Likes • 147
June 2020
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Art Insurance in the UK, by Mass on Oct 18, 2020 8:15:10 GMT 1, With the recent increases to LIITA in particular I’ve now had to change insurer, having gone above the limit on the existing policy. The new insurer is insisting on monitored alarm.
With the recent increases to LIITA in particular I’ve now had to change insurer, having gone above the limit on the existing policy. The new insurer is insisting on monitored alarm.
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Art Insurance in the UK, by crashwilliams on Oct 19, 2020 14:12:57 GMT 1, I need to update insurance and direct line select have just told me that I will need to have a monitored alarm too. Is this not a requirement for hiscox and others (for 200k plus)? May be time to shop around. A timely thread, I've literally just chatted with Hiscox - took five mins and I will know my cost in the next twenty-four hours... My notes form the call - there's no particular requirement for security at home, they don't suggest particular alarm system, nor does it have to be connected to a police/monitor station. The guy said that i'll notice in the terms, that you must take 'reasonable care' - so if you go on holiday/leave the house then you lock up etc (!) There's also no excess, if stolen or damaged they will pay up (after obviously investigating) - though they will only pay to the value you've insured your item(s) for (so if the prices keep going up ala Banksy) you have to keep them updated - I forgot to ask whether there is a cost attached to this, i'm guessing yes. For pieces in excess of £50k then you have to specify what that piece is and what the value of said piece is. They don't ask you to prove the value now, however if you were to claim then they would would want proof of ownership (COA etc) and proof of value - recent auctions etc being acceptable. This was really straight forward and I was impressed at how quick it happened - lets see what the cost is.
Sorry, I've only just seen this.
Not my experience, I believe the cut off is above £250k.
I need to update insurance and direct line select have just told me that I will need to have a monitored alarm too. Is this not a requirement for hiscox and others (for 200k plus)? May be time to shop around. A timely thread, I've literally just chatted with Hiscox - took five mins and I will know my cost in the next twenty-four hours... My notes form the call - there's no particular requirement for security at home, they don't suggest particular alarm system, nor does it have to be connected to a police/monitor station. The guy said that i'll notice in the terms, that you must take 'reasonable care' - so if you go on holiday/leave the house then you lock up etc (!) There's also no excess, if stolen or damaged they will pay up (after obviously investigating) - though they will only pay to the value you've insured your item(s) for (so if the prices keep going up ala Banksy) you have to keep them updated - I forgot to ask whether there is a cost attached to this, i'm guessing yes. For pieces in excess of £50k then you have to specify what that piece is and what the value of said piece is. They don't ask you to prove the value now, however if you were to claim then they would would want proof of ownership (COA etc) and proof of value - recent auctions etc being acceptable. This was really straight forward and I was impressed at how quick it happened - lets see what the cost is. Sorry, I've only just seen this. Not my experience, I believe the cut off is above £250k.
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FЯ
Full Member
Posts • 8,248
Likes • 9,237
May 2013
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Art Insurance in the UK, by FЯ on Oct 19, 2020 14:16:02 GMT 1, I need to update insurance and direct line select have just told me that I will need to have a monitored alarm too. Is this not a requirement for hiscox and others (for 200k plus)? May be time to shop around. Sorry, I've only just seen this. Not my experience, I believe the cut off is above £250k. Collections insurance with hiscox is having to declare anything over 50k A monitored alarm sounds extreme.
they then move you to fine art insurance for anything higher.
I need to update insurance and direct line select have just told me that I will need to have a monitored alarm too. Is this not a requirement for hiscox and others (for 200k plus)? May be time to shop around. Sorry, I've only just seen this. Not my experience, I believe the cut off is above £250k. Collections insurance with hiscox is having to declare anything over 50k A monitored alarm sounds extreme. they then move you to fine art insurance for anything higher.
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Eton Groover
New Member
Posts • 962
Likes • 989
February 2008
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Art Insurance in the UK, by Eton Groover on Oct 19, 2020 14:18:25 GMT 1, Mo' money. mo' problems
Mo' money. mo' problems
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jakecskis
New Member
Posts • 65
Likes • 119
September 2020
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Art Insurance in the UK, by jakecskis on Oct 21, 2020 15:36:13 GMT 1, Hi all, I have seen many discussions about insurance of prints / paintings. I am still quite new here and I am wondering the following, when is it suitable to start insuring a collection? Is it possible to insure a complete collection or shall it be bone by print? Any recommended companies operating in France? An estimate of a yearly cost? I don’t own anything with high value, main elements I own: Banksy Welcome Mat Banksy Box Set Shepard Fairey « We the people protect each other » large format AP Shepard Fairey « We the people defend dignity » 30 years edition Shepard Fairey X Vhils « Universal Personhood » /150 & the last one printed in IDEM Paris. Vhils X Hennessy Special Edition (box /100) SEEN multitag Ernesto Yerena HPM JR « Ballerina jumping in containers » /250 Vhils (multiple editions Core / wood elements from the edition done with configurable art etc.) Few prints from Cleon Peterson, EELUS, SETH, Kai & Sunny & Shepard Fairey. Thanks in advance for your answers and opinion. Ugo
My PAP covers the collection as a whole as well as individually. I’ve insured it for current market value based on recent auction sales. Up to 250K USD in the event of total loss. $50/month. I did not shop around so not sure if this is a competitive rate?
Hi all, I have seen many discussions about insurance of prints / paintings. I am still quite new here and I am wondering the following, when is it suitable to start insuring a collection? Is it possible to insure a complete collection or shall it be bone by print? Any recommended companies operating in France? An estimate of a yearly cost? I don’t own anything with high value, main elements I own: Banksy Welcome Mat Banksy Box Set Shepard Fairey « We the people protect each other » large format AP Shepard Fairey « We the people defend dignity » 30 years edition Shepard Fairey X Vhils « Universal Personhood » /150 & the last one printed in IDEM Paris. Vhils X Hennessy Special Edition (box /100) SEEN multitag Ernesto Yerena HPM JR « Ballerina jumping in containers » /250 Vhils (multiple editions Core / wood elements from the edition done with configurable art etc.) Few prints from Cleon Peterson, EELUS, SETH, Kai & Sunny & Shepard Fairey. Thanks in advance for your answers and opinion. Ugo My PAP covers the collection as a whole as well as individually. I’ve insured it for current market value based on recent auction sales. Up to 250K USD in the event of total loss. $50/month. I did not shop around so not sure if this is a competitive rate?
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charliec2701
New Member
Posts • 513
Likes • 491
September 2014
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Art Insurance in the UK, by charliec2701 on Oct 21, 2020 15:47:30 GMT 1, Hi all, I have seen many discussions about insurance of prints / paintings. I am still quite new here and I am wondering the following, when is it suitable to start insuring a collection? Is it possible to insure a complete collection or shall it be bone by print? Any recommended companies operating in France? An estimate of a yearly cost? I don’t own anything with high value, main elements I own: Banksy Welcome Mat Banksy Box Set Shepard Fairey « We the people protect each other » large format AP Shepard Fairey « We the people defend dignity » 30 years edition Shepard Fairey X Vhils « Universal Personhood » /150 & the last one printed in IDEM Paris. Vhils X Hennessy Special Edition (box /100) SEEN multitag Ernesto Yerena HPM JR « Ballerina jumping in containers » /250 Vhils (multiple editions Core / wood elements from the edition done with configurable art etc.) Few prints from Cleon Peterson, EELUS, SETH, Kai & Sunny & Shepard Fairey. Thanks in advance for your answers and opinion. Ugo My PAP covers the collection as a whole as well as individually. I’ve insured it for current market value based on recent auction sales. Up to 250K USD in the event of total loss. $50/month. I did not shop around so not sure if this is a competitive rate?
With high value items generally considered to be £1500-5000+ you need to specify the individual item. My insurance covers specific named pieces, itemised jewellery, itemised furniture plus a sensible general amount for the rest of the house to replace in the event of total loss. Be careful that your insurance covers high value items in full as $50 pm seems rather low in comparison to my policy?
Hope this helps buddy
Hi all, I have seen many discussions about insurance of prints / paintings. I am still quite new here and I am wondering the following, when is it suitable to start insuring a collection? Is it possible to insure a complete collection or shall it be bone by print? Any recommended companies operating in France? An estimate of a yearly cost? I don’t own anything with high value, main elements I own: Banksy Welcome Mat Banksy Box Set Shepard Fairey « We the people protect each other » large format AP Shepard Fairey « We the people defend dignity » 30 years edition Shepard Fairey X Vhils « Universal Personhood » /150 & the last one printed in IDEM Paris. Vhils X Hennessy Special Edition (box /100) SEEN multitag Ernesto Yerena HPM JR « Ballerina jumping in containers » /250 Vhils (multiple editions Core / wood elements from the edition done with configurable art etc.) Few prints from Cleon Peterson, EELUS, SETH, Kai & Sunny & Shepard Fairey. Thanks in advance for your answers and opinion. Ugo My PAP covers the collection as a whole as well as individually. I’ve insured it for current market value based on recent auction sales. Up to 250K USD in the event of total loss. $50/month. I did not shop around so not sure if this is a competitive rate? With high value items generally considered to be £1500-5000+ you need to specify the individual item. My insurance covers specific named pieces, itemised jewellery, itemised furniture plus a sensible general amount for the rest of the house to replace in the event of total loss. Be careful that your insurance covers high value items in full as $50 pm seems rather low in comparison to my policy? Hope this helps buddy
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jakecskis
New Member
Posts • 65
Likes • 119
September 2020
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Art Insurance in the UK, by jakecskis on Oct 21, 2020 16:44:41 GMT 1, My PAP covers the collection as a whole as well as individually. I’ve insured it for current market value based on recent auction sales. Up to 250K USD in the event of total loss. $50/month. I did not shop around so not sure if this is a competitive rate? With high value items generally considered to be £1500-5000+ you need to specify the individual item. My insurance covers specific named pieces, itemised jewellery, itemised furniture plus a sensible general amount for the rest of the house to replace in the event of total loss. Be careful that your insurance covers high value items in full as $50 pm seems rather low in comparison to my policy? Hope this helps buddy $50 pm is only for the art. Other personal items, jewelry, furnishings etc are on a separate policy.
My PAP covers the collection as a whole as well as individually. I’ve insured it for current market value based on recent auction sales. Up to 250K USD in the event of total loss. $50/month. I did not shop around so not sure if this is a competitive rate? With high value items generally considered to be £1500-5000+ you need to specify the individual item. My insurance covers specific named pieces, itemised jewellery, itemised furniture plus a sensible general amount for the rest of the house to replace in the event of total loss. Be careful that your insurance covers high value items in full as $50 pm seems rather low in comparison to my policy? Hope this helps buddy $50 pm is only for the art. Other personal items, jewelry, furnishings etc are on a separate policy.
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Art Insurance in the UK, by John The Badgers on Oct 21, 2020 18:43:48 GMT 1, Hi Ugo,
My contribution, but I would certainly see what your existing home insurance covers? Or perhaps see what other options other 'conventional' policies offer?
I went through this recently, always found my existing standard house contents adequate, they are quite broad on items like prints etc.
May be worth adding up the total value you have there, and seeing if there are any upper limits on individual items your insurer specifies.
From memory, I was good for up to circa 10K, and if individual items over 15K, I had to specify.
If this the case, then you perhaps need to look at separate policies as this perhaps the most cost effective route.
All the best.
Hi Ugo,
My contribution, but I would certainly see what your existing home insurance covers? Or perhaps see what other options other 'conventional' policies offer?
I went through this recently, always found my existing standard house contents adequate, they are quite broad on items like prints etc.
May be worth adding up the total value you have there, and seeing if there are any upper limits on individual items your insurer specifies.
From memory, I was good for up to circa 10K, and if individual items over 15K, I had to specify.
If this the case, then you perhaps need to look at separate policies as this perhaps the most cost effective route.
All the best.
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Art Insurance in the UK, by Brittany's Urban on Oct 24, 2020 13:58:29 GMT 1, Thanks for your answers! I had never been thinking about taking a separate insurance for my collection but I saw many talks in here and I wondered. Thanks for your information, I will check with my insurance of my apartment and will reconsider if some items in my collection get major increase in value. Ugo
Thanks for your answers! I had never been thinking about taking a separate insurance for my collection but I saw many talks in here and I wondered. Thanks for your information, I will check with my insurance of my apartment and will reconsider if some items in my collection get major increase in value. Ugo
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aki
New Member
Posts • 564
Likes • 356
June 2017
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Art Insurance in the UK, by aki on Nov 8, 2020 9:43:01 GMT 1, I’ve been speaking to both my insurers, home and art, home insurance aren’t bothered about £300000 of Banksy stuff on a separate policy as they are not the ones paying out if something happens.
I’ve been speaking to both my insurers, home and art, home insurance aren’t bothered about £300000 of Banksy stuff on a separate policy as they are not the ones paying out if something happens.
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Octopus UK
New Member
Posts • 869
Likes • 182
February 2007
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Art Insurance in the UK, by Octopus UK on Nov 8, 2020 11:38:05 GMT 1, I’ve been speaking to both my insurers, home and art, home insurance aren’t bothered about £300000 of Banksy stuff on a separate policy as they are not the ones paying out if something happens. It would be good to know who these insurers are if you feel able to let us know ...
I’ve been speaking to both my insurers, home and art, home insurance aren’t bothered about £300000 of Banksy stuff on a separate policy as they are not the ones paying out if something happens. It would be good to know who these insurers are if you feel able to let us know ...
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aki
New Member
Posts • 564
Likes • 356
June 2017
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Art Insurance in the UK, by aki on Nov 8, 2020 11:40:28 GMT 1, I’ve been speaking to both my insurers, home and art, home insurance aren’t bothered about £300000 of Banksy stuff on a separate policy as they are not the ones paying out if something happens. It would be good to know who these insurers are if you feel able to let us know ...
Lloyds home Hiscox art.
I’ve been speaking to both my insurers, home and art, home insurance aren’t bothered about £300000 of Banksy stuff on a separate policy as they are not the ones paying out if something happens. It would be good to know who these insurers are if you feel able to let us know ... Lloyds home Hiscox art.
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reg
New Member
Posts • 294
Likes • 431
October 2007
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Art Insurance in the UK, by reg on Dec 6, 2020 13:01:18 GMT 1, FYI for those still looking.
London based. Time to renew.
Tried my best with Hiscox. Four day wait, just for a quote. Went to Brownhills and done in minutes. No alarm required, no valuations, just a quote and pay.
loveartinsurance.co.uk
FYI for those still looking.
London based. Time to renew.
Tried my best with Hiscox. Four day wait, just for a quote. Went to Brownhills and done in minutes. No alarm required, no valuations, just a quote and pay.
loveartinsurance.co.uk
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themenya6
New Member
Posts • 137
Likes • 106
June 2020
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Art Insurance in the UK, by themenya6 on Dec 6, 2020 13:15:38 GMT 1, FYI for those still looking. London based. Time to renew. Tried my best with Hiscox. Four day wait, just for a quote. Went to Brownhills and done in minutes. No alarm required, no valuations, just a quote and pay. loveartinsurance.co.uk
Exactly the same however 6 days and counting. Must be time of the year
FYI for those still looking. London based. Time to renew. Tried my best with Hiscox. Four day wait, just for a quote. Went to Brownhills and done in minutes. No alarm required, no valuations, just a quote and pay. loveartinsurance.co.uk Exactly the same however 6 days and counting. Must be time of the year
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