‘Precious Things’ – A Catlin guide to the fine art market
05 October 2012
The art world is constantly changing and expanding. The number of people collecting art and other valuable objects – either on purpose or by accident – is ever-increasing.
However, many owners of ‘precious things’ do not realise that the insurance coverage provided by common household policies may not be adequate in respect of valuable objects, should they be damaged or stolen.
A concise guide recently prepared by the Catlin Specie team explains the coverage that is provided by specialist fine art insurance policies, the most common causes of loss relating to fine art and what happens when a claim is reported.
While the booklet is written primarily for insurance brokers, collectors and other policyholders that own precious objects can also benefit from it.
While most people think of paintings and sculpture as fine art, the list of objects that can be covered under a fine art insurance policy is long and includes:
- Architectural antiquities
- Arms and armour
- Books and works on paper, including: manuscripts, archive material, prints, photographs, posters, signs and advertising materials
- Ethnic arts
- Fine wine, bottles and glasses
- Fossils and mineral specimens
- Furniture, lighting and mirrors
- Historical artefacts
- Industrial heritage
- Musical instruments and musical collectibles
- Scientific instruments
- Silver, ceramics and glass
- Textiles, lace and embroidery
- Toys, dolls and games
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