July 13, 2022

Insuring Your Fine Art

Written by:
Bob Phillips
Reviewed by:

By definition, a “one of a kind” piece simply can’t be replaced. The spot it occupied in your home and heart won’t be the same, but the financial ramifications of such a loss can be lessened with the proper insurance coverage. 

 Much like you wouldn’t add a vintage car to a standard automobile policy, fine art valued at over $2,000 requires separate valuables and collections coverage, in addition to the standard coverage for your belongings offered by home insurance.  

Why Should You Insure Your Fine Art?

The most important reason you carry fine-art, high-value home, and high-value auto coverage is the same reason you carry any other type of insurance – for financial protection. Unexpected events that damage personal assets happen every day, and they happen quickly. Fires, floods, earthquakes, tornadoes... these are all events we can’t control, and they’re happening with increasing frequency.

Not insuring your fine art can also damage your personal financial statement. Your antique furniture, Old Master paintings, or contemporary art collection may not only be for your personal enjoyment; they may also be investments that represent a significant portion of your assets or overall net worth. 

Because most pieces of art are exhibited or stored alongside other art, there is often a ripple effect with damage. If you have multiple pieces that are part of a collection, a fine arts insurance policy protects your collection’s value and integrity as a whole.  

What Should You Be Looking For When Insuring Your Fine Art?

When you are evaluating policies to insure your pieces of art, there are several non-negotiables when it comes to features you need: 

  • Worldwide coverage that automatically goes into effect for a newly acquired item that will be added to an existing policy


  • Liberal appraisal requirements, meaning appraisals are only required for items valued at $250,000 or more. If the item is valued for less, a detailed description and estimated value are sufficient.

  • Market value is paid for a covered loss. Your insurer should pay up to 150 percent of the amount itemized on your policy if the market value of an item before a loss exceeds the amount of coverage.

  • Agreed value feature. The insurer should work with you to establish the value of your fine art when you take out your policy. If so, they should pay you 100 percent of the agreed value as a cash settlement. 

  • Flexibility. Your entire collection should be protected how you choose: either as blanket coverage for all items, individual pieces itemized, or both.  

Above All – Service 

It’s a given that Kelly Klee is going to match you with an insurer that will give you the complete protection your fine art deserves, but we’ll also make sure the carrier has the in-house resources to efficiently, accurately, and fairly underwrite your policy and process claims. 

And, we’ll pair you with an insurance company that uses the services of fine art professionals to provide the expertise you need to not only help in case there is a claim, but also to help prevent claims. 

For example, one of our carriers provides referrals to fine art professionals to review loan and consignment agreements and determine the acceptability of an institution borrowing all or part of your collection, such as a museum or consignee.

The insurer will also train your staff on the proper care and cleaning of your artwork and outdoor sculptures, including environment controls for appropriate temperature, humidity, and amount and type of light. 

Kelly Klee doesn’t just refer you to insurers that provide world-class service; we walk the talk ourselves. As a client, you’ll have access to a dedicated concierge team and a 24/7/365 hotline. Our pledge to our clients – we will always be there when you need us.

Call us today at (844) 885-1600, and let’s get started. All of our coverage plans are custom-tailored to ensure your valuables have complete coverage. Let us show you why prosperous Americans like you have chosen Kelly Klee to protect over $1 billion in personal property and wealth. 

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