Most of us will never own a Picasso or a Rembrandt. But we can have (or eventually own) an expensive piece of art. And this raises the question of how to ensure the fine arts.
When you think separately ensure an expensive item, many people think of engagement rings and other jewelry. But additional coverage can also be useful for anything from a collection of valuable stamps for an expensive fur you guessed it-the fine arts.
At ERIE, your cover art is included in your personal property policy limit on your homeowners or renters policy. That should be enough for the vast majority of people who own fine arts.
Yet maybe you inherited or bought a piece by a true master. If that is the case, you'll want to consider a separate endorsement to your art.
Even if your art is covered by your homeowners or renters policy, you may still want to approve it by your policy. This can allow you to choose a different deductible for your art to the regular duty of politics to change the coverage or change how a loss would be resolved.
Get your valued art
Regarding how to ensure the fine arts, one thing you will definitely want to do is to assess . An assessment can help ensure that you would be compensated if your art is stolen or damaged.
An appraiser can authenticate your art to make sure it is not fake. There are several ways to verify the authenticity of a painting:
- Examine the signature
- Check artistic style and ability
- Look construction and back of the fabric (A fake painting has often irregular or uneven paint on the edge of the canvas and is striking white on the back-forgers generally do not vary the weight of the paint used.)
- to evaluate the past history of sale (known as the source) and a certificate of authenticity
a similar process is used if you have an original, limited edition. An additional step appraiser will check the number of fraction at the bottom of the impression that indicates how many copies were made.
It is a good idea to get an appraisal of a few years since the auction price can fluctuate. Make sure to record the assessment documents with the deed of sale, certificate of authenticity and the past history of the sale. It is also a good idea to take some pictures of your art and include in your home inventory.
You have more questions about how to ensure the fine arts? Then contact an insurance professional as an Erie Insurance agent in your community.
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