Art insurance



Problems do happen. Theft and accidents, more or less serious, can make a piece of art irreparably lost, totally or partially damaged. Protecting it with appropriate insurance is a precaution not to be ignored.
Yes, in the face of beauty and what impacts us emotionally, money sometimes seems little. There is, however, the risk of unwanted, objective subtraction, along with the need, often, to have financial coverage to recover what is recoverable or to have some compensation in case of total loss. So money matters.
Covering a variety of damages, art insurance allows not only to compensate the owner in case of permanent loss, but also to have the necessary funds for the eventual restoration of the piece.
Art – in its multiple expressions, including photography – has become a solid investment. Globally, we are witnessing the expansion of a market and a new economy based on heritage created by artists. A patrimony that consists of unique works or replicated in limited series, of unique and growing value.

Given this reality, it easily follows that to insure a work of art is to live in the security that a valuable target is protected while ensuring that its market value is never lost.
But is any insurance company capable of protecting a masterpiece?
The answer is no.
Providing insurance for art requires in-house knowledge, specialized solutions, the ability to assess and clearly analyze a multiplicity of risks, such as theft or damage during transport, by handling, due to fire or other accidents.
In other words, finding out about the insurer's competencies and proposals is fundamental when it comes to taking out insurance.
Yes, problems do happen. And nobody needs subsequent situations that make them bigger.

(Article written with the support of  Boavista Mediação de Seguros e da Special Insurance, parceiras da Lumicroma.)

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