Fine art insurance is specialist insurance providing ‘all-risks’ cover for the physical loss or damage to art works. Art works typically include pictures, sculptures, furniture, antiques, porcelain and works of art of every description.

The fine art insurance cover will normally include the costs of restoration and any depreciation in value following a loss.

If you are purchasing high value works of art, or you already hold a specialist collection, you will require fine art insurance to protect the collection and provide cover for the costs of restoration and any resulting depreciation in value. Fine art insurance will cover the art in situ, in storage and/or whilst in transit worldwide.

Accidental damage is most likely to happen whilst art works are in transit. However, when storing art works, collectors should also ensure  that climatic conditions are stable, and the risks of fire and flood are well controlled.

Private collectors who purchase works at auction and/or from art dealers will require worldwide cover including protection whilst in storage. Private collectors and owners would benefit from having a specialist private art collectors’ insurance.  Art dealers typically require cover for stock, transits, art fairs, office contents, buildings and glass, business interruption and liabilities, all under a single policy. This can be extended to include ancillary covers such as terrorism, defective title, and fair cancellation cover.

Our fine art team have been arranging specialist art insurance for over 25 years. Our art team is made up of industry experts who have an in depth understanding of the different types of covers, as well as leading relationships with specialist insurers who provide the art insurance buyer and dealers require.

As a client of ours, you can take advantage of Lockton being the largest independently owned brokerage in the world. This independence ensures we have the freedom to act on our art client’s behalf, as we facilitate a fast, efficient and comprehensive insurance arrangement for the art collection. Our team has an excellent reputation with the specialist art insurers, enabling us to devise insurance programmes that are tailored for your collections risk exposures and ultimately provide you with peace of mind, should there be a loss.