Protect Fine Art

Can you imagine owning many valuable pieces of art, and one day having them stolen while you were away or destroyed by fire? Possibly they have just been ruined due to not being cared for properly.


The latter cause of loss, of course, cannot be recovered through an insurance claim. However, if you need to receive funds to replace your fine art due to fire, theft, or natural disasters, you can recover financially upon filing your insurance claim.


The key to proper reimbursement is that you have proof of ownership. As the owner of a home inventory service, I am aware that these types of losses happen every day. It has even happened to some of our clients. Those with a home inventory have been able to recover more quickly and with a more equitable settlement. One suggestion is to always have high value artwork appraised by a certified appraiser. Once you receive the appraisal report, talk to your insurance agent to ensure proper coverage.


The International Risk Management Institute offers some ways to preserve and protect your fine art:


When it comes to valuable fine arts collections, you should take a broad risk management approach to this important loss exposure—an approach beyond simply procuring the proper insurance.


The following are some risk control tips for those of you with valuable fine arts collections.


  • Maintain your home’s interior at a steady temperature (between 65 and 75 degrees Fahrenheit), since extreme heat or cold can damage art work.
  • Avoid placing art work in direct sunlight or near a fireplace.
  • Do not store artwork in a basement or an attic; instead, use a reputable fine-art storage facility for your artwork that is not displayed.
  • Utilize a centrally monitored security system, and use outdoor signs to alert potential burglars of your security system.
  • Install smoke detectors in rooms in which the art is located.
  • Properly frame art work using shatter-resistant fronts to block UV rays, and consider hiring a professional art hanger for your more valuable pieces.


Get more personal lines insurance and risk management tips and ideas from IRMI.

Copyright 2016 ~ International Risk Management Institute, Inc.