Fine Art & Home Insurance: Your Questions Answered

Are you wondering what insurers consider Fine Art or how you can best protect your valuable items? In this comprehensive Q&A guide to home insurance, we explain what qualifies as Fine Art, outline the benefits of listing high-value items separately, and highlight why it’s essential to have professional valuations. Additionally, you’ll learn how home contents insurance, accidental damage cover, and listed building insurance apply to your individual needs.

What Is Considered Fine Art for Insurance Purposes?

For insurance purposes, Fine Art includes items typically bought and sold at specialist auctions. Examples include:

• Paintings
• Sculptures
• Rare books and manuscripts
• Coins and medals
• Antique furniture

Importantly, listing Fine Art separately on your home insurance policy can result in lower premiums. This is because insurers often rate Fine Art differently — usually at a lower rate than standard contents. For instance, a £10,000 painting listed under general contents might not be fully covered, depending on your policy’s limits.

Therefore, to avoid disputes during a claim, it’s highly advisable to have a professional inventory and valuation prepared for your Fine Art collection.

What Is Covered Under General Contents Insurance?

General contents insurance covers your personal possessions and furnishings on a new-for-old basis. Typically, this includes:

• Furniture
• Curtains and carpets
• White goods and appliances
• Clothing and electronics (e.g., TVs and computers)

However, high-value items such as jewellery or watches exceeding £5,000 often need to be listed separately as specified items. In these situations, insurers may also require enhanced security measures, such as a safe or an upgraded alarm system.

What Does Accidental Damage Insurance Include?

Accidental damage refers to sudden, unforeseen events that damage your home or its contents. For example:

• Spilling a drink on your carpet
• Knocking over and breaking your television

Usually, this cover is an optional extra in a home contents insurance policy. Therefore, it is a good idea to confirm with your provider if you’re unsure whether accidental damage is included.

Are My Contents Covered When I Travel Abroad?

Yes, in many cases, home contents insurance includes worldwide cover for short trips. This can extend protection to:

• Mobile phones
• Laptops
• Cash or currency
• Jewellery and personal belongings

Nonetheless, policy conditions vary, so always confirm the duration and territorial limits of overseas cover with your insurance provider before travelling.

Can Tenants Get Cover for Interior Decorations?

Yes, tenants can arrange cover for:

• Wall coverings
• Interior decorations
• Improvements to the home

In the event of damage to the tenant’s interior decorations and improvements, you may be able to claim back costs for reinstatement or restorations under certain provisions.

What Is an Approved Safe with a Cash Rating — and Do I Need One?

An approved safe is one that meets standards set by the Association of Insurance Surveyors (AiS). A Cash Rating is the amount an insurance company will cover in a safe/cabinet overnight.

For example:

• A £3,000 cash rated safe is acceptable for up to £30,000 of jewellery
• Multiply the cash rating by 10 to give the level of cover for valuables

Ultimately, installing a safe with the correct rating not only helps secure your valuables but can also satisfy insurer requirements. For more guidance, visit independentsafes.co.uk, a specialist UK supplier of domestic and commercial safes and vaults.

Should I Get My Jewellery and Watches Valued?

Absolutely. You should obtain a professional valuation for jewellery and watches at least every three years. Because precious metal prices fluctuate, updated valuations help ensure:

• Accurate cover in the event of a claim
• No risk of being underinsured

Moreover, most high-street jewellers offer written valuations for a fee — either per item or as a percentage of its value. Alternatively, online valuations have become an increasingly convenient option.

Do You Offer Insurance Policies for Listed Buildings?

Yes. At Anthony Wakefield & Company, we specialise in Listed Building Insurance. Unlike standard home policies, our bespoke cover is designed for the unique demands of historic and period properties.

This is essential because:

• Repairs often require specialist materials and techniques
• The cost of reinstatement is usually higher
• A professional valuation helps avoid underinsurance

Therefore, we recommend speaking to one of our experts for personalised advice on protecting your listed property.

Need help with Your Home Insurance policy?

Whether you need advice on Fine Art insurance, contents cover, or listed building protection, our dedicated team is here to assist.

Contact Robyn Homewood
📧 Email: rh@anthonywakefield.com
📞 Phone: 01306 734 100