Visual Art Property and Artwork Coverage

Whatever the scope of your visual art projects, you probably have property that you would prefer not to have to pay to replace. Property insurance covers a variety of things, including materials, equipment, computers, etc. This coverage is also referred to occasionally as “inland marine”.

Don't assume that general liability insurance automatically protects your property as well. Unless property is specifically added to the policy, it does not. While a general liability policy may list "property" coverage, that is "property" in the real estate sense of the term: an actual physical structure.

In a visual art context, there are two different types of property to consider: coverage for the piece of art itself and coverage for the rest of the tools and materials that you have in your studio for use in fabrication or design.

For the art: what you're looking for is artwork coverage for the piece itself once it is complete. Look for a policy that covers the work in transit, on exhibit, and while in storage. This coverage is meant to protect the works against theft, vandalism, etc. To obtain this coverage you'll need to provide some basis for the valuation of the art, which varies from carrier to carrier but usually involves selling price, material cost, and/or appraised value.

For the equipment: this is coverage for items in your studio like raw materials, tools, and computers. Most property coverage includes a deductible in the $500-$1000 range, so if the value of your property is lower than or close to that deductible then this is not a worthwhile investment.

So I've covered myself and my stuff. Maybe I should look into health insurance too? Good thinking! Health Insurance

I keep hearing about disability insurance. What's that all about? An excellent question. Disability Insurance

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