Art Gallery Insurance: Coverage Perfect For Any Gallery

Setting up and running an art gallery can be an expensive and complex yet rewarding endeavor. It brings together a deep passion for art, dedication, and a substantial degree of talent and knowledge. 

Yet, staying up at night worrying about the safety of gallery pieces should not be part of your client’s daily lives. Unfortunately, accidents can occur even when the utmost care is taken, so it’s important that an art dealer has an appropriate Art Gallery Insurance policy covering them in the event of an incident. 

Distinguished’s Art Gallery Insurance can provide the peace of mind every art dealer requires by offering comprehensive coverages and the art insurance expertise they need. This article will guide you through our coverage, its necessity, and why Distinguished is your ideal art gallery insurance partner. 

What Does Distinguished’s Art Gallery Insurance Cover?

Distinguished’s Art Gallery Insurance has been designed by our art insurance experts to completely cover the broad spectrum of potential risks an art dealer’s pieces face. These coverages include:

• Nail-to-nail coverage: We provide coverage from the artist or seller to the gallery and then to the end buyer.
• Worldwide coverage: Regardless of where in the world your art is going, our coverage will have your client’s back.
• Customized coverage for transit: Our policies include special provisions for coverage during transport, whether for art fairs or unique exhibitions.
• Comprehensive inventory coverage: Our policy extends to both loaned items and objects on consignment.

Interested in learning more about how Distinguished Fine Art and Collectibles policies cover art-in-transit? Learn more in our guide to art transit insurance. 

Why Do Art Dealers and Galleries Need Specialized Insurance?

Art dealers and galleries often have pieces on the go, whether they’re off to an exhibition, a buyer, or back to the gallery. This movement is necessary in this business, but it also makes specialized insurance coverage all the more important.

A partner who is not an industry expert in Fine Art Insurance will not be prepared to handle the last-minute shipping endorsements or valuations your clients need

That’s why our Art Gallery Insurance offers comprehensive coverage and the prompt service required in this fast-moving industry. For instance, if your client needs to move several pieces to an art show in Hong Kong next month, we can help ensure that those pieces are covered by the time they hit the road. We can do this because we’ve seen it before, so as long as they’re using approved shipping methods, we can process any needed endorsements with minimal hassle or fuss. 

Plus, having this coverage in place is completely essential because unexpected accidents can happen on the road — even when you use professional art movers and take all possible precautions. For instance, in 2018, a Picasso painting was damaged while it was waiting to be auctioned at a Christie’s auction. The cause of the damage was not disclosed, but the painting itself is worth millions of dollars. 

With specialized insurance from Distinguished, your clients get truly headache-free coverage, so even if the unexpected occurs, they can be confident that they have an insurance policy that can help them recover.

What Determines the Costs of Art Gallery Insurance?

Every art gallery and art dealer is unique, with specific niches, needs, and insurance requirements. For this reason, every policy we write is unique as well.

However, to understand the costs behind Art Gallery Insurance, we’ve listed some of the major factors our underwriters will look at when underwriting your art gallery clients. These include: 

• Type and description of inventory and property being sold or consigned
• Number of locations or storefronts
• Usage of off-site storage facilities and warehouses
• Transit frequency and values of artworks shipped during a typical year
• Number of art fairs attended per year and whether they are domestic or international
• Roster of represented artists
• Total value of inventory versus the policy limit carried
• Past losses or loss history

If your client is looking for a quote tailored to their unique circumstances, we’re more than happy to assist. Simply register with Distinguished, fill out the applicable application, and then email us at fineartandcollectibles@distinguished.com. If it fits, we’ll get back to you with a bindable quote as soon as possible.

Why Partner With Distinguished For Your Art Gallery Clients?

At Distinguished, our most vital asset is our team. When you partner with us, you get a team that understands the complexities of the art business, ensuring that your client’s needs are met even under tight timelines or unusual circumstances.

Plus, we can offer your clients:

• Expertise: Our team has been in this business for a long time, so we’ve seen it all and aren’t afraid to get creative in unique situations. 
• Convenience: We offer automatic coverage for gallery locations (storefronts) and temporary off-site locations, including transits and art fairs.
• Flexible Deductibles: Depending on your client’s needs, we can ensure they get deductibles that suit their budget.
• Nuanced Valuations: We can help underwrite policies recognizing different ownerships of pieces, like owned inventory versus consigned works or sold but not delivered pieces.

Interested in working with us for other fine art and collectibles clients? We also offer insurance policies for artists, museums, rare collectors, and more. 

Sign Up With Distinguished Today

Taking the first step to providing your client with insurance through Distinguished involves registering with us. Once this is complete, the rest is simple. Fill out and submit your business with key details about security measures, details on the gallery’s inventory, and any history of losses. 

For more information about our Fine Art and Collectibles Insurance Program, feel free to contact us at fineartandcollectibles@distinguished.com or visit our product pages below:

• Art Dealers and Galleries Insurance Program
• Artist Insurance Program
• Corporate Collections Insurance Program
• Exhibitions Insurance Program
• Museum Insurance Program
• Private Collection Insurance Program

Distinguished’s Art Gallery Insurance FAQs

Is transit insurance included?

Yes, transit insurance is generally included in our policies. Up to 25% of the policy limit is afforded for transit coverage under our Commercial Fine Art Dealer policy.

Are artworks covered after they are sold?

If this has been agreed upon in your coverage, your client’s pieces will be covered until they’re delivered to the buyer. 

Is art fair coverage included? 

Yes, unnamed locations and transit coverage limits are available to commercial fine art dealers as needed and approved by our underwriters.

About Distinguished Programs

Distinguished Programs is a leading national insurance Program Manager providing specialized insurance programs to brokers and agents with specific expertise in Fine Art and Collectibles, Environmental and Construction Professional, Executive Lines, Inland Marine, Real Estate & Builder’s Risk, Community Associations, Hotels, and Restaurants. Property and Liability products are distributed through a national network of agents and brokers. Serving the same core markets and partnering with the most stable and reputable carriers, Distinguished’s high-limit Umbrella programs remain the clear choice in its area of specialty for superior coverage, competitive pricing, and attentive service. Through thoughtful innovation, stemming back to 1995, Distinguished Programs fosters growth and opportunities for its brokers, carriers, and employees.

View a full list of our programs and submit business with Distinguished.

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