Why UK Collectors Need Collection Insurance
February 5, 2010 – 3:48 pmCollection insurance, some UK collectors assume, is optional either due to its steep price or the difficulty in getting them. Here’s why they might change their minds. Collection insurance coverage is comprehensive. Common items in art collections are covered, along with some uncommon ones, such as writing instruments. Insurance also covers theft, fire, flooding, natural disasters, and breakage. General appraisals are not needed; you determine the value of your art collection and the amount of insurance you think you need. Still, it is advised that an updated inventory of items in the collection be kept, to help expedite claims in the event of a loss.
