Bruce Gendelman Insurance Services is a high net worth insurance brokerage specializing in coverage for Fine Art. We insure multi-million dollar paintings across the United States and in several countries. If you have pieces of art that are valuable to you financially or sentimentally, we recommend that you insure your art with Bruce Gendelman Insurance Services.
There are several advantages to insuring your art separately:
- Broader coverage
- Coverage extends worldwide
- Homeowner’s policies typically put a restriction on the amount of coverage afforded away from your home. Our companies write coverage on art that extends around the globe. So whether it is in transit, or at another location, your art would be covered
- 150% of scheduled amount
- If the market value of the scheduled item exceeds the amount of scheduled coverage for that item, our companies would normally pay its market value up to 150% of the amount scheduled value
- Newly Acquired Items
- If you scheduled your art work separately, our insurance companies would cover your newly acquired valuable articles, up to 25% of the amount of scheduled coverage. For appropriate coverage, you would have to request coverage for all newly acquired art within the first ninety days after your acquisition, and pay any additional premium from the date acquired
- Articles of Others
- Our companies would cover damage to the art of others while temporarily in your care, custody and control up to a limit of $1,000,000
- There is no deductible
- High net worth homeowner’s insurance policies often have very large deductibles to keep the premium down. Insuring your fine art separately would eliminate this deductible, resulting in no out of pocket expense to you if you art were stolen or damaged
- Coverage is very affordable
- Of all the classes of items that can be specifically insured, art is the least expensive. A painting of $100,000 could cost as low as $200 annually to insure
- Many of the insurance companies that we work with offer a homeowner’s discount of up to 5% of the total homeowner’s premium for clients who insure art separately (subject to a minimum limit).
- Flexibility of Coverage
- Coverage may be scheduled separately or added as a blanket. If you choose to blanket your coverage for a certain limit, art coverage would be afforded up to that limit (with a per item limit as well). An appraisal would not be necessary and the description would not need to be provided. Our companies would pay the amount for the covered item in the event of a total covered loss (150% of scheduled amount would not apply here)
Please call us at 1-800-845-4145 to discuss setting up a complimentary assessment of your art collection. We are prepared to discuss your art with you to determine the type and coverage limit that best fits your collection. We look forward to hearing from you.