chapter  15
6 Pages

Insurance

WithJeffrey Taylor

Depending on the type of venue being operated, many different forms of insurance policy can be considered. Storage insurance covers the long-term possession of pieces in relatively stable, secure locations. For collectors this kind of insurance can be a basic home-owners policy adapted with riders for their particularly large and valuable art collection. The best insurance for safe transportation of artworks is good packing. Numerous incompetent individuals may handle the freight a less-than-ideal manner, and still the artwork will arrive intact because superior quality packaging takes in to account this eventuality. Title insurance for movable property is a relatively new concept, and one that is intended to directly address the perils of improper title, and specifically improper title because of some earlier theft or appropriation. The fact that so many owners have found that their artworks are now being taken from them as a result of the restitution process has led to the creation of the title insurance industry.