Keeping Your Art Collection Safe

How Insurers Think

If you love your art, you’ll probably want to display your art collection in your home. And why not? Art should be enjoyed. However, you expose art in the home to an array of risks. We have the insight into how you can protect it from damage or theft.

Cyrus Wakefield is a CII Diploma qualified UK insurance broker at Anthony Wakefield & Company Ltd. He specialises in Art, Antiques and Private Clients’ risks across the country.

Location, Location, Location

Naturally, sculptures in the garden are at some risk. Normal weathering would be excluded from an insurance policy. But, depending on the size and weight of the pieces, they can be especially vulnerable to theft. Criminals may consider the value in some metal sculptures and look at what they could earn by melting them down.

Art in the home is more susceptible to damage. Because works on canvas or paper can suffer considerable damage from even small volumes of water, insurers often consider where you keep more valuable pieces. Does the piece face the risk of damage from escapes of water from pipes or water tanks above? The risk of accidental damage is also higher if you keep art in a high-traffic, narrow area of the home, such as a hallway. Kitchens and bathrooms can also be problem areas. This is due to water, fire, humidity and accidental damage risks.

Security

Naturally, insurers will want to know about the normal protections of the home (locks, alarms, etc.). However, the occupancy pattern of the home is also important. Burglars are less likely to target a residence that people regularly live in. They are more likely to target one that is left unattended for long periods. Holiday homes or second homes with larger art collections will require careful consideration.

For pieces of particular value, insurers may wish to see a contact sensor placed on the work. This way, the burglar alarm will sound if someone removes the piece. In these cases, we advise consulting a specialist security professional.

Profile

Underwriters will often look at any publicly available social media profiles of the clients they insure. It’s best not to show-off. Any images which reveal the collection inside the home, or which could reveal the security protections used, will be viewed unfavourably. Similarly, it is best to avoid sharing when you are away from the home. This can be an invitation for unwanted visitors to come around.

With some planning and consideration, you can display art collections safely in your home and enjoy them for many years to come. An insurance broker is in the best position to review the risks you face and make recommendations.

For independent advice and a personalised, friendly service, contact Cyrus to discuss insurance matters on 01306 734 102 or by emailing cw@anthonywakefield.com