Getting Your Art Insured

If you have even one artwork you love at home you

should give serious thought to your home insurance

policies. All policies are not created equal, call your

insurance company and ask them,  "What does your

insurance cover by way of art?" Most insurance won't

cover much and the insurance agent will probably tell you

what you need is an art rider. This is just a fancy way of

saying, "It's going to cost you more money to get the

insurance you want."

Make sure your art rider is for the replacement

value of the artwork, not the purchase price. If you

suffer a loss at least you will be covered up to the full value

of the piece's current appreciated value. This can really help

if you are trying to have the exact piece replaced or would

rather get several newer works of lesser value.

When you're looking to find the replacement value of

your piece a good idea is to ask any gallery you trust for a

certificate of appraisal, which is a written certificate

stating the works fair market value. This is also something

you should get from the gallery when you buy the artwork,

because most insurance companies will want this even if

you're only buying a $2,000 piece.

On the other hand, if you purchased your piece

from EBay or with Joe-Online-Art-Broker who may or may

not be in business anymore, you're definitely welcome to

start calling around to see if there's some gallery willing to

give you a certified appraisal.