Art Insurance—How to Protect Your Collection With Confidence
Whether you’re a seasoned collector with a gallery-worthy collection or you’ve just acquired your first piece, understanding how to insure artwork is crucial. Art insurance protects your valuable pieces, giving you peace of mind that your collection is secure.
In this guide, we’ll explore everything you need to know about fine art insurance in the UK, from getting an art insurance quote to choosing the right insurance for artworks.
Why do you need art collection insurance?
Your artwork isn’t just valuable – it’s often irreplaceable. Let’s look at a real-world scenario:
Imagine you’ve just invested in a contemporary piece from an up-and-coming artist for £5,000. Two years later, as the artist’s reputation grows, the piece is now worth £20,000. Standard home insurance typically has limits of £1,500 to £2,500 per item – nowhere near enough to cover your art’s appreciated value.
High-value art insurance goes beyond standard home contents cover to provide specialised protection for your pieces. Here’s what quality insurance for artwork should protect against:
Theft: Not just burglary, but also theft by deception or during transportation
Accidental damage: From a glass of red wine being knocked onto a canvas to damage during cleaning
Damage: A burst water pipe, fire, flood, and other events that could harm your collection
Transportation damage: Protection during moves, loans to galleries, or when sending pieces for restoration
Depreciation in value: If part of a pair or set is damaged, cover for the loss in value to the entire set
Types of art insurance cover
When looking for artwork insurance, UK collectors typically choose between:
Standalone fine art insurance
- Specialised policies focused solely on your art collection
- Often offers more tailored cover and higher limits
- May include additional services like access to art experts and conservators
High-value home insurance
- Comprehensive cover that includes art collections insurance alongside other valuables
- Often more cost-effective if you have multiple types of valuables
- Simplified management with one policy for all high-value items you own
Both options can be customised to your needs. For example, if you regularly loan pieces to exhibitions, you can add cover for transportation and display in public spaces.
The benefits of art insurance
There are a few benefits to getting specialist art insurance either as part of your high-value home insurance or as standalone cover, they both give the following cover benefits.
Agreed value cover: Unlike standard insurance that may depreciate values, art insurance typically offers agreed value cover. This means you’ll receive the full insured amount in the event of a total loss, without depreciation.
Market appreciation coverage: Some policies automatically increase coverage as your art appreciates in value. For instance, if you purchase a piece for £10,000 and its value doubles, you’re still fully protected without immediately updating your policy.
Automatic additions cover: When you’re growing your collection, you need to ensure protection is in place on the point of purchase, and you don’t want to have to be calling your broker before you buy something. Quality art insurance provides:
- 60 days of automatic cover for new purchases
- Protection up to a specified limit (often 25% of your total sum insured)
- Time to arrange proper valuations and update your policy
For example: If you spontaneously purchase a £50,000 piece at an art fair, it’s automatically covered for 60 days under your existing policy.
Artist death value appreciation: In the (un)fortunate event of an artist’s death, the value of their work often increases significantly.
Leading policies offer:
- Automatic increase in cover (typically up to 200% of the agreed value)
- Time to obtain new valuations (usually 6-12 months)
- Protection against rapid market value changes
How to insure artwork: A step-by-step guide
Document your collection
Proper documentation is crucial for both insurance and potential claims:
Photographs
- Take high-resolution photos of each piece from multiple angles
- Include close-ups of signatures, distinctive marks, and any damage
- Update photos annually or after any restoration work
Provenance documentation
- Keep all receipts and certificates of authenticity
- Document the history of ownership
- Store copies of these documents separately from your collection
Professional valuations
- Have valuations done every 3-5 years, or more frequently for contemporary art, this may be a requirement for your insurance
- Use certified valuers who specialise in your type of art
- Keep detailed records of all valuations
Determine your cover needs
Consider these factors when evaluating your insurance needs:
Total value: Not just purchase price, but current market value
Location risks: Is your art in a city prone to flooding? Do you live in an area with high crime rates?
Display methods: Are pieces properly mounted? Do you have appropriate climate control?
Transportation requirements: Do you frequently loan pieces to exhibitions? Are you planning to move house soon?
Get an art insurance quote
When seeking quotes, be prepared to provide:
- Detailed inventory of your collection – standard home insurance require you to disclose items valued over £1,500 normally. This is increased to £10,000 high-value home insurance policy and is £25,000 for rivr home and contents insurance policies.
- Recent valuations
- Security measures in place
- Claims history (if any)
The cost of insuring artwork
The cost of art insurance varies widely based on several factors:
Value of collection: Typically, the higher the value, the lower the percentage rate applied against the value but roughly it costs 20p for every £100 of value. So if a painting is worth £20,000 it would cost £40.
Type of art: Some mediums are more fragile and cost more to insure
Security measures: Better security often means lower premiums
Location: Both your location and where the art is stored matter
For example: For a collection valued at £500,000, with good security in a low-risk area, you might pay between £100-£800 annually for comprehensive standalone cover.
It is more cost effective to insure your art collection as part of you high-value contents insurance, although it can be harder to compare quotes due to other items being included in the quote like your general contents and other valuable items.
Choosing between art insurance brokers
When selecting insurance for artworks, consider these crucial factors:
Expertise: Do they understand the specific needs of your collection type? Is the cover they offer specialised to cover art insurance?
Cover options: Do they offer worldwide cover? What are their exclusions and limits?
Claims process: Do they have art experts on staff? What’s their average claim settlement time?
Why choose rivr for your art collection insurance
At rivr, we’ve reimagined art insurance for the modern collector. Our high-value home insurance includes comprehensive cover for your art collection:
Worldwide cover: Your art is protected wherever it goes
High single-item limits: No need to list items valued under £25,000
All-risks cover: Protection against virtually all types of loss or damage
Simple digital management: Update your policy instantly as your collection grows
Ready to protect your collection?
Don’t leave your precious art collection unprotected. From Beaconsfield to Gerrards Cross, and across the rest of the UK, rivr can help ensure your art collection is properly covered alongside your home.
Our tailored high value contents cover also protects other valuables, such as precious wines, designer handbags, stamps, electronics, and more.
Get a quote today and join the many collectors who trust rivr for their art insurance needs.
With rivr, you can focus on enjoying and growing your collection, knowing it’s protected by comprehensive, hassle-free cover.
Learn more about our high-value contents cover here
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Frequently asked questions
Yes. Contents insurance covers your belongings, not the structure, so set a separate figure alongside your buildings cover. Premiums and limits differ between the two. With rivr, buildings and contents sit in separate sections, each with its own sum insured and limits.
Yes. While some home insurance policies include basic protection for fine art, they often limit cover for risks like transit, display or accidental damage. Specialist fine art insurance offers more comprehensive protection.
If you own valuable works or are growing a collection, it’s important to ensure your policy reflects their current market value. Always review the terms carefully to understand exactly what is covered.
High-value contents insurance is designed for homes that require cover above the limits offered by standard home insurance, and offers a more comprehensive form of insurance. It offers tailored insurance cover that is designed for homes with a higher standard of finish and contains expensive personal belongings such as luxury or antique furniture, electronics, jewellery and art.
Many insurers require a separate product or manual itemisation for art. rivr includes fine art within your high-value contents policy, with worldwide all-risk protection and no need to list each piece under £25,000.
The result is streamlined administration and fewer barriers for collectors managing a growing portfolio. This is especially helpful for a diverse clients range with changing needs.
Owner-packed breakables are often excluded. To protect glass, china, art and similar, use professional packing or custom crating. Keep receipts and box IDs so any example claim has evidence.
