Collection Insurance and Digital Solutions: A New Approach

Why Take Out Art Collection Insurance?

Works of art are vulnerable to many types of risk:

• Theft or attempted theft
• Accidental damage
• Fire, water damage or natural disasters
• Damage during transport or storage
• Losses occurring during exhibitions or loans

Fine Art Insurance is based on actual market value, as well as the rarity and fragility of artworks. It is designed for private collectors, galleries, foundations, companies and cultural institutions alike.

Fine Art Insurance: Tailored Coverage

Art collection insurance relies on bespoke policies, adjusted to the nature and value of the insured works. The most common types of cover include:

1. All-Risks Coverage

Protects artworks against most types of loss or damage, subject to clearly defined exclusions.

2. Transit and Handling Insurance

Essential for works moved between galleries, art fairs, museums or storage facilities.

3. Exhibition Coverage

Covers artworks displayed outside their usual location, including at public or private events.

4. Liability and Legal Disputes

Some policies include legal protection in the event of disputes relating to ownership or authenticity.

The Key Role of Art Expertise

All collection insurance is based on rigorous art expertise. This process determines the insured value and helps avoid under- or over-insurance.

Professional art expertise generally includes:

• Precise identification of the artwork
• Condition assessment
• Provenance research
• Valuation based on current market prices
• A detailed written report

This expertise should be updated regularly, as an artwork’s value may change significantly over time depending on the artist’s market, demand or trends.

Documentation and Risk Management

To optimise a Fine Art Insurance policy, it is essential to compile a complete file for each artwork:

• High-resolution photographs
• Invoices or certificates of authenticity
• Art expertise reports
• Restoration history
• Conservation and storage conditions

Accurate documentation not only facilitates policy placement but also enables faster compensation in the event of a claim.

Collection Insurance and Simplified Fine Art Estimation with Objais

While Fine Art Insurance is essential to protect an art collection, its cost is often difficult to anticipate. Between complex inventories, art expertise and lengthy questionnaires, obtaining an initial estimate can quickly become time-consuming.

Objais offers a new and intuitive approach. The platform allows users to easily catalogue artworks and collections, and to obtain a non-binding insurance estimate in just one click, without having to answer numerous additional questions.

This estimate provides a quick and realistic overview of the cost of Fine Art Insurance, with no commitment. A playful, unique and accessible way to better understand collection insurance and anticipate the protection of an artistic heritage.