Insurance for storing, showing, and shipping paintings

[Peggy Baumgaertner]

www.portraitartist.com/baumgaertner

Inland Marine Insurance: I was able to get insurance covering all my paintings at all degrees of completion over a period of a year. What this means is that all transitional paintings (does not cover those paintings which I have in my private collection) are covered by insurance. If there is a fire or theft in my studio, the paintings are covered, if I ship off a painting to another part of the country, the painting is covered, if I am showing the painting in a gallery, and the painting is lost, stolen, or defaced, the painting is covered. I am paying about $500 a year, and this insures up to $10,000 per painting. (You can insure for a higher amount, but the premiems are higher.) This is much cheaper than the amount I was paying to insure each and every painting I was shipping out, and it covers all contingencies. The insurance in Inland Marine, and any insurance company can obtain it for you. You have to keep on the agent, because this is a very unfamiliar policy. My insurance agent kept telling me it didn't exist, but I insisted and the policy was finally located. (Thanks Richard...)

[Cynthia Daniel]

Originally posted by sc123

This sounds very interesting and affordable. Its seems great for your paintings. I'm wondering if it also covers your photography gear while you're out on the road or even while you're at home.

[Peggy Baumgaertner]

This insurance was originally set up to cover boat builders, and covers a product during creation, transport, storage, and display of that product. It does not cover personal or business items. I have homeowners or business insurance to covers items like cameras.

[Cynthia Daniel]

There are some resources for this listed in my Resource & Biz Center. Go to http://www.portraitartist.com/resour...linsurance.htm . I can't vouch for any of them, but there are many resources there.

[Ann Phenix]

Finding coverage for your art inventory in your studio and while in transit isn't too difficult, but there are many insurance agents who are only too happy to take your money without being customer friendly. What most artists need is someone who can steer them in the right direction so that they can protect their business assets if something physically happens to the art work or if someone decides to sue them, and give them advice.

Be aware that you also get what you pay for, and many of the more reputable companies are charging at least $1,000 - $1,500 for minimum premiums on a 12 month fine art policy and $500 on a 12 month liability policy.

Our agency has been working with artists, dealers, museums, collectors for more than 40 years, and I started in the business in 1986. Please feel free to contact me if there are any questions I can answer either on our toll-free number at (800)422-8889 or by e-mail [email protected].