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Protect Your Collections

Tips and resources for Art Advisors to add more value to your clients.

As an art advisor, your business priority is simplifying the art acquisition process for your clients and informing their collection choices. But, like many in the industry today, you may be looking for new ways to add value and grow your business. One way to do this is by understanding and addressing your clients’ need to ensure that their passion is protected through adequate insurance on their collection.

AN OPPORTUNITY FOR BOTH YOU AND YOUR CLIENTS

Recognize the gaps your clients may have

Market protection

With Chubb, if the market value of an item on the policy before a covered loss exceeds the amount of coverage for that item, your clients are still protected. We’ll pay the market value before the covered loss – up to 150% of the amount of the itemized coverage. If your clients’ collections include work by artists who have quickly appreciated in value, they can have peace of mind with this coverage enhancement.

Recovered art

If artwork is stolen and recovered right away, regardless of the current value of the item, we’ll offer an item back to the client for no higher an amount than what was paid out.

If the artwork is recovered later and has increased in value since the time of loss, Chubb will offer the client the opportunity to purchase the item at a price that is no higher than what we paid the client at the time of loss.

Check out a real life claims example
Newly Acquired Items & Works in Progress
Newly Acquired Items & Works in Progress

If your client already has itemized fine art coverage, newly acquired items are automatically included in your policy for up to 90 days for up to 25% of their limit. This includes a purchase at an art fair or while visiting a gallery. With this coverage, your clients can focus on their passion first, knowing that they have coverage in place. If your clients take an item on approval prior to purchase, Chubb has them covered. Our policy provides coverage for works on loan or consignment.

If you are assisting a client with a commissioned work, you can have peace of mind that all risk coverage is in place, up to $100,000.

Claim scenarios

Stolen painting found years later

Watch how Chubb responded after a client's painting was stolen from their home and recovered years later.
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Commissioned painting is destroyed

Watch how Chubb responded when a painting in progress was damaged from a fire in the artist’s studio.
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Did you know?
Did you know?

The risk your clients are facing

It is important that collectors are proactive in taking the necessary steps to ensure their newly acquired artwork is preserved for generations to come. By providing resources and educational tips on how they can preserve their collections, you can help them reduce their chances of loss in the future.

Click here for more information
Additional Resources

How to minimize risks that your clients face

Resources

Through our Preferred Service Provider Network, Chubb clients can receive complimentary referrals to qualified specialists and discounts on a range of services. Our network is carefully vetted to provide the finest service, quality, and expertise.

By providing your clients with important resources related to their fine art collection, you can stay one step ahead of their needs. Chubb clients have access to fine art appraisers, conservators, storage facilities, transporters and more within the U.S. and internationally.

In-house services for Chubb Clients

Chubb in-house specialists provide risk consultation on topics ranging from fire and security protection to conservation and preservation.

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Chubb’s Fine Art and Collections Practice

Chubb’s Fine Art and Collections Practice brings together the expertise of our worldwide resources in loss prevention, underwriting, and claims to respond to the evolving needs of personal insurance clients with large and valuable collections. Chubb’s team of specialists have degrees and advanced training in art and collectibles, as well as prior experience working for museums, galleries, auction houses, and advisory firms.

Laura Doyle, Vice President
Art, Jewelry & Valuable Collections Manager
lmdoyle@chubb.com

 

Tannie Ng, AVP
Senior Art, Jewelry & Valuable Collections Underwriter,
tng@chubb.com