When news of art theft breaks, it can be difficult to comprehend why anyone would want to take away something that adds joy to the world. The reality is that thieves often steal art for ransom or resale, making it a profitable business. As fine art pieces tend to be lightweight and easy to move, this presents a relatively low-risk opportunity for criminals. Unfortunately, fine art loss isn't something that only affects museums, but also private estates. Without the same level of security in place as galleries, collectors can find themselves vulnerable. Although some may know the value of their art collections, many underestimate the risk and potential losses from theft, natural disasters, and other occurrences.
When selecting insurance for your art collection, there are few key points to keep in mind. Firstly, make sure you research what type of coverage is best for you and your collection. Each policy should be tailored to your specific needs - this could include coverage for fire and water damage, theft, and even appraisal costs. Secondly, ask your Trusted Choice agent to ensure the policy features full replacement value coverage. This guarantees that you'll get full market value in the case of damage or theft. Finally, you should also find out if the policy includes reimbursement for lost profits if your artwork is stolen and you're unable to sell it.
It's important to stay prepared and protect your valuable art collection. With the help of Trusted Choice agents and the right policy, your collection can be safeguarded against theft, damage, and other unexpected events. To get started finding the perfect policy for your art collection, contact a Trusted Choice agent today and speak with them about your needs. They'll help find the coverage that suits you best, so you have peace of mind in protecting your investment.