ImageArt Insurance - Buy Fine Art Insurance from Top Companies in India

Table of Contents

  • > The Benefits of Art Insurance
  • > Quick Guide to Art Insurance
  • > Frequently Asked Questions
  • > Insuropedia
  • > Why SecureNow?

The Benefits of Art Insurance

Comprehensive Cover

An art insurance policy provides a comprehensive cover with coverage of risks including physical damage, loss due to theft, accidents, and a wide range of natural perils to artwork, such as floods and earthquake.

Fire And Allied Perils Cover

Fine arts insurance covers damage to art pieces due to fire, lightning, riots and strikes. You can also include protection against aircraft or vehicle impact, explosion and terrorism, by paying an additional premium.

Transit Cover

Art insurance covers physical damage to valuable artwork during transportation. For instance, even though the art piece is well packed, it can get damaged due to vibrations or shocks whilst in transit.


Customised Policy

You have the flexibility to design the policy according to your requirement. For instance, partial loss due to scratches or impact damage can be covered. Add-ons like exhibition coverage can also be introduced.

Quick Guide to Art Insurance

What is Art Insurance?

The fine arts are allure and vulnerable in nature which also means that they can be stolen or can get damaged. Art insurance policy is a comprehensive policy. It provides inclusive protection to assets like fine art, paintings, statues and sculptures, antique furniture, musical Instruments, books, etc. from unforeseen and sudden physical loss or damage like theft, accident, damages due to shifting etc. The art insurance compensates the policyholder in case of physical loss or damage to these valuable art items.

What Art Insurance Covers?

Art insurance coverage includes any unforeseen and sudden physical loss or damage caused to the insured asset. The art insurance coverages also include transit of insured artworks i.e., if the artwork gets damaged during the transportation. Following are some examples of assets that can get covered under the art insurance policy.

  • Paintings
  • Etchings
  • Etchings
  • Photographs
  • Statutes
  • Prints
  • Sculptures
  • Antique furniture and clocks
  • Books
  • Stamps
  • Medals and trophies
  • Dolls and toys

Eligibility Criteria of Art Insurance

The art insurance eligibility criteria is very simple. Any person who owns valuable paintings, drawings, antique items, fine art, statues and sculptures can buy art insurance cover to protect his collectibles against damage or loss. Generally, this policy is bought by

  • Art collectors
  • Private collectors
  • High net worth individuals
  • Industrialists
  • Art dealers
  • Museums

Features and benefits of Art Insurance in India

Cover Accidental Damages

  • Fine art insurance covers accidental damage to artwork. This is a major benefit because accidental damage commonly occurs during public exhibitions or transportation of artwork.
  • It offers cover against damage to the art piece due to exposure to liquids and damaging gasses.
  • Physical loss during domestic or international shipping is also covered under artwork policy.

All Risks Cover

  • Art insurance policy covers loss or damage caused by fire, lightning strike and natural catastrophes like storm, tempest and flood. Riots, strikes, malicious damages may also be covered.
  • The policy will also reimburse losses and damages due to burglary, theft, and defective title.
  • Loss due to employee dishonesty can also be covered under artwork insurance.

Financial Protection

  • Fine art insurance provides security to art pieces, antique furniture and statues by providing the cost of repair of property which can get damaged due to various types of risk.
  • Artwork insurance will also pay if the art gets damaged during handling and improper packaging.
  • It offers a financial cushion to your business, which may get impacted due to such uncertain events.

Online Art Insurance Provider Companies in India

A fine art insurance policy is a customized product and would need a requirement analysis before we can curate the coverages and features for you. Different art insurance companies provide different coverages and charge accordingly. When you connect with us, our insurance expert will understand your requirements and will provide you the best art insurance policy. Following are some of the top insurers that provide an art insurance and we can get competitive quotes from them-

  • IFFCO Tokio
  • HDFC Ergo
  • ICICI Lombard
  • TATA AIG
  • Future Generali

Claim Process for Art Insurance

Insurance companies follow certain procedures for the art insurance claim process. It is advised to follow the claim process as it will fast track your claim settlement. Following are some steps for processing the claims:

  • In the event of any damage or loss to the article, immediately notify us, through writing or by calling up on their customer care number. We, being insurance experts, will help you in the claim process.
  • Next, you should take all possible steps to minimize further losses.
  • A surveyor will be appointed by the art insurance company to inspect the loss. You should cooperate with the surveyor in his investigation.
  • Submit all the necessary documents, as required by the insurance company, as soon as possible.
  • Insurance companies will provide compensation according to the clauses in your policy. Replace, repairs, or monetary compensation will be processes to restore the artwork

Documents required for Art Insurance.

Following are the list of art insurance documents required for processing a claim under an art insurance policy:

  • Claim Form
  • Asset register
  • Policy or cover-note copy
  • Evaluation of artwork
  • FIR (in case of theft)

Frequently Asked Questions

Homeowners insurance policy does provide some coverage for artwork, including sculptures, paintings, drawings etc. But a standard homeowner insurance policy may not provide full value coverages as it is not as sophisticated as art insurance policy. And it may require adjustments and underwriting work as homeowner insurance policies have a lot of restrictions. So it’s better to buy a fine art policy for your artworks as it will provide better coverage and proper valuation of your art.
Insured value is the maximum sum insured or maximum liability on the insurer which is provided to the policy holder on theft or total loss of the insured artwork. The insurance value of an artwork depends on several factors like type of asset, current market value, yearly depression etc.
Yes, paintings can be insured under art insurance policy. You just need to provide correct information about your artwork and our team of experts will help you to select the best policy for your paintings.
Yes, you need insurance for artwork that is consigned to:
  • Gallery – as the gallery owner will not accept any responsibility for the loss or damages to the art. And hence no responsibility of insurance.
  • Exhibition - Similarly in an exhibition owner will not take any pain for your art’s insurance.
  • Insuropedia

    What does “Wall to Wall basis” mean in Art Insurance?

    Statues, antique furniture, fine art, musical instruments and other important collectibles are classified as assets. If you are a corporate collector, individual collector, fine art dealers, antique dealers or if you have museums or hold art exhibitions, it makes sense to go with art insurance to provide comprehensive protection...
    Read More

    What is covered under art insurance?

    Art has become a profitable investment in modern times. It is high on price and is a long term investment. Art can also be stolen or destroyed, which makes it important to insure your art. Since art is not covered under home insurance, you need to purchase a specific art insurance policy. Whether you display your high priced art possessions...
    Read More

    How is the Art Valued for Art Insurance?

    It is important to have an up-to-date valuation of your artwork to ensure you are fully covered in the event of a claim. Factors such as artist, market value, date becomes important when art is valued for art insurance. Ways in which different categories of art is valued for Art insurance

    Insured own artwork: Insured own property...

    Read More

    Search Insuropedia - Enter Your Question.

    Why SecureNow?

    Deep Product Knowledge

    We have specialized underwriters and tie-ups with international experts.

    Cost-effective Insurance

    We work with all insurers to get you the best options- both in terms of price and features.

    Quick Turnaround

    Cover notes are issued within hours of request. This ensures that your goods don’t sit idle at any stage.

    Strong Claims Support

    We manage all aspects of your claim - from preparing documentation to follow-up with the insurer.

    Value-Added Services

    We will advice you on risk management best practices.

    Policy Administration System (PAM)

    See all your contracts renewal information in one place. Place service requests on PAM.