11th May 2010
If you are planning to exhibit your art, it is recommended
to get artists insurance. Of course, most artists cannot be bothered by
commercial questions, but if they take part in the shows, sell their art in a
store or travel, there is always a risk of an accident. Even if your financial
situation lives much to be desired, this insurance should be on the top of your
It is heartbreaking to lose your art or to get it damaged,
but it is much worse to lose it without any compensation. Therefore it is
better to get protected in advance, as very few people are lucky enough to go
through entire career without a single accident. Artists insurance will provide
you coverage in case something goes wrong in the course of an exhibition, and
you can get this insurance for a single event, for multiply events and even for
the whole year and more.
Even if you do not move your collection and keep it at home,
it is still advisable to get protected by insurance, but you can do that within
your homeowner property policy. However, if your art is exceptionally precious,
it is recommended to opt for a separate insurance. You can use the services of
a company with multiple qualifications, or to find a company with a narrower
Also, an insurance
broker can help you to get artists insurance: in fact this option is more
preferable as a broker is not attached to one company but cooperates with lots
of them and it is more likely that you will find something suitable if a
professional assesses all the possibilities.
The cost of a premium is not that high as you may possibly
think. Usually the price is the main reason why the artists avoid getting insurance.
But a simple comparison of the insurance cost and the amount of your loss in case
of an accident will prove the necessity of getting a policy. The actual cost
depends on many factors, and you should go through a list of questions with
Before purchasing artists insurance, you should also get
your art work apprised. It is important
to know how much your art can possibly cost anyway, but at the same time you
will be able to reduce the cost of a premium as lots of companies give a
considerable discount if your collection has been apprised.
Last but not least, it is important to remember that you
have an option to get a coverage only for a part of your art collection. It is
not always necessary to get coverage for the entire collection when you
purchase this insurance. If you exhibit only a part of your art works, it is
enough to get artists insurance only for that. The risk of an accident is also
reduced if you keep the art in several places.
It is great to go optimistic and believe in good
luck, but it is much wiser to get protected. After all, a little bit of
commercial interest will not interfere with the artistic nature.