Fine art and specie insurance protects customers’ most precious possessions, including fine art, antiques, jewellery, collectibles, coins, and other valuable properties. The valuable possessions are covered against all risks of loss or damage in storage and in transit. Fine art and specie insurance is suitable for individuals, corporations, exhibitions, museums, commercial art galleries, and antique merchants.
The sum insured of fine art and specie insurance is generally higher than household insurance. It is determined based on the value from expert appraisal as agreed by the insurer and policyholder, or the record of purchase. If the insured possession is damaged, the insurance company would offer compensation according to the agreed value.