Currently, many individuals own art sculptures. Since these are very valuable items, it is therefore essential to support them through high-end and tailor-made insurance contracts. However, the insurance rate is low because conventional home insurance contracts cannot insure an art sculpture. Therefore, it is essential to contact a specialized insurer.
Here is some useful information!
Concept on classic home insurance
As its name suggests, home insurance is intended to cover damage to housing as well as the usual furniture it contains in the event of a claim. It is therefore unable to protect valuables. However, it is necessary but not obligatory.
So, in order to properly insure an art sculpture, it is preferable to opt for specific insurance. Note: specific insurance can insure everything provided that the parts are valued by a specialized expert.
How to ensure well a sculpture?
In general, the majority of individuals neglect insuring art sculpture, believing that the standard home insurance policy is sufficient to protect all of these assets. However, in order to properly insure an art sculpture, you must:
– Call on a specialized expert to be able to authenticate the object
– know the value of the object in order to determine the amount of the premium to be paid in the event of damage
-subscribe to a specific guarantee
But above all, the insurance of a home-owned art sculpture requires a declaration with its insurer. Therefore, it is mandatory to keep all supporting documents to certify the value of a work of art (purchase invoices, certificates of authentication, expert certificate). Know that the value of a sculpture must be reviewed every 3 years.
Note: the insurer is never responsible for appraising a sculpture or other works of art, this task is performed by an expert.
Why is it necessary to ensure a sculpture?
It is essential to insure an art sculpture because even damage caused by clumsiness will be covered. We can say then that it is a very flexible insurance.
However, in order to obtain compensation, some insurances require that the insured be subject to security measures such as the installation of a surveillance video, an alarm system, etc. But if the insured refuses to take these steps, the insurer can exclude him from the contract.
Note: whether for traditional housing contracts or specific contracts, it is always important to carry out the inventory as well as the authentication in order to assess the value of the object.
Basically, insuring an art sculpture helps protect against the unexpected. However, authentication can be done on a regular basis in order to reassess the value of the object.