Many collectors assume their standard homeowners, renters or flood insurance covers the fine art in their homes. While these property insurance policies will include some reimbursement for damaged, lost, or stolen art, it’s unlikely that the full value of a precious art collection will be recovered using property insurance alone. Fortunately, fine art insurance in New Jersey offers more complete coverage, whether for a single high-value work of art or an entire collection.
There are multiple reasons a property insurance policy may not provide enough insurance for the fine art in your home, including:
It’s important to check your policy against the value of your collection. If the reimbursement offered by your homeowners insurance is not enough to cover potential losses, get advice about insuring fine art from a New Jersey insurance specialist.
While your personal art collection may be worth somewhat less than the hundreds of thousands these museums lost, yours holds value all the same. Think about the potential for damage, loss or theft of the artwork in your home. Anyone who has experienced a burglary or accidental damage would surely recommend insuring fine art just as you would any treasured possession.
When deciding on the best fine art insurance policy for your New Jersey art collection, comparing multiple quotes gives you an advantage. An independent insurance agent can help you navigate the art insurance plans and options available from multiple carriers so you can choose a policy with confidence.
My son just got his license so we wanted to bundle the packages for the insurance together. I called some companies directly and I also tried an independent agent but the cost wasn’t good enough. The Trusted Choice agent gave me the best price and he was also very nice. He was great and I recommended him to somebody else. I will tell my friends to go for it if they ask. In the end, we’re all looking to save some money since insurance is getting higher and higher.Joe of Mount Holly, NJ Consumer Affairs
The first step in insuring artworks will be a current, qualified appraisal. An independent agent can help you inventory and assess the value of your art pieces, and help you find the appropriate New Jersey fine art insurance coverage for a single high-value piece or your full collection.
There are currently 485 independent insurance agents in New Jersey who are ready to help. These agents can save you time and money by helping you find competitively priced coverage that is well-suited to meet your specific coverage needs. Talk to an insurance agent near you to learn more and to start comparing customized fine art insurance quotes.