Understanding Fine Art and Collectibles Insurance From Distinguished 

In 2022, the global art and collectibles market grew to a staggering $500 billion. This growth means that more and more people and institutions will need help finding appropriate insurance solutions to protect their growing collections in the coming years.  

Distinguished’s Fine Art and Collectibles Insurance Program is a complete solution for all fine art and collectibles insurance needs. Whether it’s baroque paintings or baseball cards, our passionate team of experts can help you and your clients protect these valuable collections in private homes, traveling exhibitions, corporate offices, and more.  

Read on to learn more about the details of our Fine Art and Collectibles Insurance program or sign up today to get a quote for your client in as little as 1-2 business days.  

What Does Distinguished’s Fine Art and Collectibles Insurance Cover? 

Distinguished’s Fine Art and Collectibles Insurance is a flexible program offering robust insurance coverage for all kinds of collections. This can include: 

  • Personal Collections: Distinguished offers comprehensive coverage for diverse items, from fine art, baseball cards to historical artifacts. With this policy, personal collectors can continue to collect without worry as newly acquired objects enjoy automatic coverage up to 25% of the policy limit for up to 90 days. 
  • Museums and Institutions: Our insurance for museums and institutions covers both owned and loaned exhibits. Coverage limits are also flexible, offering adjustable policy terms to accommodate planned exhibitions, including coverage for any losses incurred during shipping or warehousing. 
  • Traveling Exhibitions: Catering to exhibitions on the go, our coverage safeguards every exhibition stage, from transit and storage to multiple venues. Notably, it encompasses consolidation and return shipments, offering complete peace of mind. 
  • Corporate Collections: Whether it’s historical objects, pieces of art, or valuable papers, our coverage can keep these corporate assets safe, regardless of whether they’re at a single office or spread out worldwide.  
  • Dealer’s Inventory: We understand that coverage needs for dealers can change at a moment’s notice, so we offer responsive enhancements to cover participation in art fairs or trade shows. Plus, we offer a wide variety of other changes and enhancements so you get a policy that suits your client’s needs.  
  • Artist’s Works: Artists can find comprehensive artist insurance protection for their works regardless of whether they’re in progress, at the studio, or being shipped worldwide to galleries, buyers, or exhibition venues. 

What Determines the Costs of Fine Art and Collectibles Insurance? 

Pricing for any kind of insurance product is rarely a one-size-fits-all situation. This is especially true for fine art insurance and collectibles insurance. For this reason, our policy prices will vary greatly based on factors like: 

  • The kind of collection: Who owns it (e.g., personal vs. corporate collection) and what is being collected will be reflected in the final price. 
  • Size and scope: The total or comprehensive value of the collection being insured. 
  • Spread of risk: Dispersion of the collection across multiple locations will impact pricing. 
  • Deductible: As with any insurance, the deductible amount will impact the policy premiums.   
  • Hazards: Different kinds of collections have unique exposures that can make insuring them more or less risky.   
  • Location: Where the location is housed and whether that location is more or less likely to face risks like natural disasters.  
  • Loss history: A previous history of safekeeping can positively impact the end price of the policy. 
  • Transit: Prices are impacted by how often the objects are moved, packed, and transported from one location to another, as transit poses the largest risk to your client’s collection. 

If your client wants a quote for their collection, reach out to one of our expert underwriters today, and we can get you a quote anywhere from 1-2 business days with the goal of getting back to you as soon as possible. 

To submit, simply register as a broker and fill in an application form with all the relevant details.  

Why Distinguished’s Fine Art and Collectibles Insurance Is Right For You and Your Clients 

The Distinguished Fine Art and Collectibles Insurance Program stands above our competitors by offering you and your clients the expertise that comes from years of working in the fine art and collectibles industry.  

Our experience ensures that whether you represent a private wine collector or an international museum, you get coverages, deductibles, and limits that make sense for your client.  

We are more than just insurance experts; we’re also passionate collectors and art enthusiasts. That’s why we can offer your clients an insurance product that combines: 

  • Experience: Our expert underwriting and claims teams have years of expertise that cover everything from fine art to niche collectibles. 
  • Client-forward service: Service and a strong personal connection with all our partners is one of the guiding principles here at Distinguished. This focus allows us to help you in all aspects of a policy, from getting a quote for coverage to issuing policy changes and more. 
  • Passion: We share your client’s love of priceless fine art and collectibles. That means if something goes wrong, we will always explore the possibility of repairing and restoring these treasures. 
  • Flexibility: The art and collectibles world is constantly changing, and we want to ensure we can help your clients regardless of whether they’re collecting centuries-old fine art or the latest limited-edition sneaker.  
  • Connection: We are proud to collaborate with an extensive network of industry professionals, including specialty fine art insurance brokers, advisors, appraisers, restorers, attorneys, and more.  

All of these qualities come together to create a compelling fine art and collectibles insurance option that can win you accounts from across the spectrum of the art world.  

Sign Up Today With Distinguished 

Signing up your agency is the first step you need to take to get your client insured through Distinguished. After This process is complete, you can simply fill in and submit your application. 

When filling in the application, you’ll need details like security information, property covered, and loss history. We also accept ACORD applications with a Distinguished supplemental.  

In some situations, we may require additional information, such as a copy of a consignment agreement for a dealer or a complete description of the collection. However, our goal continues to be to offer an easy way to do business as we assist you in growing your business. 

If you have any questions about our Fine Art and Collectibles Insurance, please contact us at fineartandcollectibles@distinguished.com or see our Fine Art and Collectibles Insurance product page for more details.  

Distinguished’s Fine Art and Collectibles Insurance FAQs 

What type of items can you insure?  

We can insure any items that have an established value and that can be sold on a secondary market. This includes but is not limited to the following:  

How do I figure out what my property is worth?         

An independent appraisal is the best way to determine your property’s value. When selecting an appraiser, look for the following: 

  • Appropriate credentials like a USPAP certification 
  • Membership in a professional association 
  • A good reputation 
  • Experience or specialization in the type of property you want to be appraised 

When we are agreeing to a value for your property, we’ll ask for an appraisal (typically completed within 3-5 years prior to application) or an invoice or receipt from the purchase if the piece is new. 

Will it cover my houses, offices or other secondary locations? Or my collection items overseas?            

Yes! We will cover property worldwide (except as prohibited by law). We’ll also want to list any of your permanent locations, like second homes or storage facilities, on your policy. 

How is this different from my homeowner’s coverage? 

Specific differences will depend on what type of homeowner’s policy you have. However, differences may include: 

  • Lower deductibles 
  • More flexible or beneficial valuation of the property 
  • Automatic coverage for your newly acquired property 
  • Better equipped to handle the specific needs of collectors 

Our team—including claims—focuses entirely on fine art and collectibles and has years of experience in this space. Another focus? Making it easy for you to do business with us, and making sure you are pleased and satisfied with the entire experience! 

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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