Fine Art & Home Insurance: Your Questions Answered

Are you wondering what’s considered Fine Art for insurance purposes or how to best protect your valuable possessions? In this Q&A guide to home insurance, we explain what qualifies as Fine Art, the benefits of listing high-value items separately, and why it’s crucial to have professional valuations. Learn how home contents insurance, accidental damage cover, and listed building insurance apply to your specific needs.

What is considered Fine Art when it comes to insurance?

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

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

One major benefit of listing Fine Art separately on your home insurance policy is the potential for lower premiums. This is because many insurers 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.

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

What is included in my general contents?

General contents insurance covers your personal possessions and furnishings on a new-for-old basis. Commonly covered items include:

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

High-value items such as jewellery over £5,000 often need to be listed separately as specified items. In such cases, insurers may require enhanced security, such as a safe or an upgraded alarm system.

What is considered Accidental Damage?

Accidental damage refers to sudden, unforeseen events that damage your home or contents. Examples include:

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

This cover is typically an optional extra in a home contents insurance policy. Check with your provider if you’re unsure whether accidental damage is included.

Are my contents covered if I go abroad?

Yes, in many cases your policy will offer worldwide cover for short trips. This can include protection for:

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

Be sure to confirm the duration and limits of overseas cover with your insurance provider.

As a tenant, can I get cover for any interior decorations?

Yes, tenants can get 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. 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

Installing a safe with the correct rating can help secure your valuables and meet insurer requirements. For more information on cash rated safes, visit independentsafes.co.uk, a specialist UK supplier of domestic and commercial safes and vaults.

Should I get a valuation for my jewellery and watches?

Yes, you should obtain a professional valuation for jewellery and watches every three years. Since precious metals fluctuate in value, this helps ensure:

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

Most high-street jewellers offer written valuations for a fee — either per item or as a percentage of its value. Online valuations are also increasingly popular.

Do you offer insurance policies for Listed Buildings?

Absolutely. At Anthony Wakefield & Company, we specialise in Listed Building Insurance. Standard home policies are often inadequate for these historic properties.

Why? Because:

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

We strongly recommend speaking to an expert for tailored advice on insuring a Listed Building.

Need help with your Home Insurance policy?

Whether you have questions about home insurance for Fine Art, contents abroad, or specialist cover for Listed Buildings, we’re here to help.

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