Insure Your Art Collection

Information on shipping, storing and repairing your art, plus your reviews on products for art collecting, making, storing, etc..

Postby andyfarrimond on Mon Apr 30, 2018 11:24 am

xangelx wrote:I use collectinsure, sign up was easy, premium was reasonable from others I looked at it. Luckily I guess I have not had to file a claim so can't speak as to how that would go. But as with any other kind of insurance I would expect that they will try to drymount you any chance they get.


I use Collectinsure, I've had 2 claims for items destroyed by the USPS and they have been amazing to work with. Claims paid quickly and with very little fuss, both were fairly low value items around $100 or so. Really happy with every aspect of their service to date.
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Postby ToolFanFromWayBack on Mon Apr 30, 2018 11:55 am

brewdog123 wrote:not sure i would want to hold on to all my drop receipts or paypal receipts. might be slightly depressing


and dangerous if the wife is not in the know on how much you spend on paper...
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Postby sendit2d on Mon Apr 30, 2018 1:39 pm

andyfarrimond wrote:
xangelx wrote:I use collectinsure, sign up was easy, premium was reasonable from others I looked at it. Luckily I guess I have not had to file a claim so can't speak as to how that would go. But as with any other kind of insurance I would expect that they will try to drymount you any chance they get.


I use Collectinsure, I've had 2 claims for items destroyed by the USPS and they have been amazing to work with. Claims paid quickly and with very little fuss, both were fairly low value items around $100 or so. Really happy with every aspect of their service to date.


This is good to hear. How did they determine the value of the items destroyed by the USPS, by the sale price (if you were shipping them for a sale)?
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Postby lcsproductions on Mon Apr 30, 2018 1:49 pm

Does Insurance cover replacement value?

I thought insurance only covered what you paid for something - not what it grew to be worth -
I can see them paying out the prices listed on a receipt or invoice in a claim but not replacement cost.

Can someone elaborate
Thanks
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$250 for the pair shipped and insured. Both are mint. Shipping should be around 7 or 8 bucks.

FYI: this was the collection that didn't make my walls, still beats your shitty little collections...and if it doesn't, I still couldn't care less.

Postby brewdog123 on Mon Apr 30, 2018 2:12 pm

ToolFanFromWayBack wrote:
brewdog123 wrote:not sure i would want to hold on to all my drop receipts or paypal receipts. might be slightly depressing


and dangerous if the wife is not in the know on how much you spend on paper...

ha ha...ug
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Postby ToolFanFromWayBack on Mon Apr 30, 2018 4:25 pm

lcsproductions wrote:Does Insurance cover replacement value?

I thought insurance only covered what you paid for something - not what it grew to be worth -
I can see them paying out the prices listed on a receipt or invoice in a claim but not replacement cost.

Can someone elaborate
Thanks


In most cases you can pay to insure at original cost or replacement value, with replacement value being more expensive. It's really dependent on the company. On super pricey art (Monet, Picasso, Jackson Pollock), the owners get appraisals for current worth and they are insured it for that price. On the type of artwork we are talking about, aside from maybe Banksy pieces, I wouldn't think they would be insuring individual pieces, but rather the whole collection.
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Postby bigmuls on Mon Jul 02, 2018 12:31 pm

I'm looking into insuring my whole collection as well as a few prints that are valued over 10K. Trying to figure out the best route to go for each option. Any idea how to get a valuable print appraised?
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Postby Codeblue on Mon Jul 02, 2018 12:38 pm

Whatchu got baller? Some Banksys?
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Postby bigmuls on Mon Jul 02, 2018 12:47 pm

Codeblue wrote:Whatchu got baller? Some Banksys?

Alas no. My valuable print is an Invader. The more it goes up in value the more worried I get about owning it.
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Postby Codeblue on Mon Jul 02, 2018 1:13 pm

Luls. I used to have a few invaders. Glad I don't have to worry about teh insurance now. #silverlinings #silentlycrying
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Postby chevyav53 on Mon Jul 02, 2018 1:14 pm

bigmuls wrote:
Codeblue wrote:Whatchu got baller? Some Banksys?

Alas no. My valuable print is an Invader. The more it goes up in value the more worried I get about owning it.


Don't worry about it his prices are coming down :P

JK..... this article was helpful for me a few years back. I'm lucky for my more expensive ones they send me updates whenever the value increases but others you are really worried about the price going above what you paid, get the appraisal. I'm about to update mine as my 3 year old is on a rampage since his little sister came and I'm getting worried :shock: a toy's going to go flying.....

How much is your stuff worth?
It’s often a good investment to spend the time and money on an appraisal
https://www.consumerreports.org/cro/mag ... /index.htm
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Postby bigmuls on Mon Jul 02, 2018 3:08 pm

chevyav53 wrote:
bigmuls wrote:
Codeblue wrote:Whatchu got baller? Some Banksys?

Alas no. My valuable print is an Invader. The more it goes up in value the more worried I get about owning it.


Don't worry about it his prices are coming down :P

JK..... this article was helpful for me a few years back. I'm lucky for my more expensive ones they send me updates whenever the value increases but others you are really worried about the price going above what you paid, get the appraisal. I'm about to update mine as my 3 year old is on a rampage since his little sister came and I'm getting worried :shock: a toy's going to go flying.....

How much is your stuff worth?
It’s often a good investment to spend the time and money on an appraisal
https://www.consumerreports.org/cro/mag ... /index.htm

I'm worried about the same thing with 2 and 5-year old boys who might one day find daddy's collection and make paper airplanes out of them.
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Postby kansasbbq on Wed Jul 04, 2018 9:46 am

^That's why doors come with locks. :lol:
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Postby soupysound on Wed Jul 04, 2018 10:01 am

my wife and i have already agreed on our escape plan in case of an emergency... she grabs the kiddo, i grab the art. :lol:
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Postby chevyav53 on Wed Jul 04, 2018 10:04 am

kansasbbq wrote:^That's why doors come with locks. :lol:


Not sure about Texas but in Cali if you lock your kids outside you’ll have Child Protection Services called on you :wink:
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