Fine Art & Collectibles Insurance
NEBCO offers a comprehensive portfolio of customized art and collectibles insurance products and related services to meet the growing demands of individual art collectors, museums, galleries, corporations, galleries, trusts, traveling exhibitions and artists.
If you have valuable and unique possessions such as fine art, antiques, jewelry, a coin, stamp or wine collection, sports memorabilia or other treasures, then you will want to protect your investment through adequate insurance.
Standard homeowners policies limit coverage per item, and may not be sufficient for special and valuable possessions. For particularly valuable collections you may want to take out a separate insurance policy with an insurance company that specializes in insuring these; however, for many people a rider or endorsement on your home insurance policy may be sufficient. This itemizes and insures your especially valuable possessions for an additional premium.
Policies cover loss and damage due to a variety of perils including: theft, vandalism, fire, smoke and lightning, wind, damage caused by aircraft and vehicles, falling objects, malfunction of household systems and equipment such as plumbing, furnaces or air conditioning. To be covered for flooding or earthquakes you will need to take out additional coverage for these events.
You may want to hire an independent appraiser to establish the value of the items you wish to insure. Make sure to choose an appraiser who specializes in the type of items in your collection. The American Society of Appraisers can provide a list of qualified appraisers in your area.
Be sure to have complete documentation of your special collections and valuable items. This could be in the form of videos and photographs, gallery receipts and proofs of purchase, appraisals and other written records, which you should update regularly. Keep this documentation off-site in case of the complete destruction of your home and contents.