Should you get insurance coverage when moving fine art?

Moving house was always challenging and costly. You must prepare all your belongings, pack them, and find reliable New York movers to help you out. And the entire thing becomes even harder if you have highly valuable items with you, like antique furniture, artwork, and memorabilia. Keeping that in mind, aside from having movers to assist you, you should find another way to protect such items. Therefore, if you’re wondering if should you get insurance coverage when moving fine art, we’re here to answer that question.

The fine-art moving preparations

As you may know, the insurance will reimburse you if something bad happens to your items. But everything that comes before and after should be handled by you or your fine art movers New York. So, should you get insurance coverage when moving fine art, or can you cover everything without it? Well, it depends on how good your moving organization is and where you move. If you have a long way ahead and higher chances of moving mishaps, then you should.

fine art studio
Fine art must be prepared properly for moving if you want to avoid unfortunate events.

If you must pack everything by yourself, you must consult the fine art dealer first and learn more about protecting artwork properly. After that, go out and get all of the packing materials you’ll need. Or you can order online or purchase packing supplies from your movers. Additionally, consult with your moving representative and let them stop by to confirm your home is a safe environment for moving. One set of stairs or a narrow corridor can easily contribute to permanent damage to your items. To make things easier, it’s best to let professional movers cover this part.

Should you get insurance coverage when moving fine art and where to find one

As a fine art owner, you probably already know what fine art insurance is. If not, let us quickly explain why it is good and where to find it. Firstly, you should know that fine art insurance works like any other insurance related to personal property. The only difference is that this property is really valuable, which results in delicate handling, all kinds of legalities, and a small but highly competitive market. It’s good to know that if anything goes wrong, the insurance company will reimburse you in full.  The only downside is that it is fairly hard to find a good fine art insurance company.

The first way of finding a reputable insurance company is to obtain references from friends, family, or trusted associates. The second way to do it is to search online. And this is a tricky part because you will find hundreds of companies. But before you talk to any of them, check out the reviews, external blog posts, their official website, and social media networks. Dig out anything you can about them just to confirm they are legit and a reliable choice. Remember to ask your furniture movers Brooklyn as well. Maybe they can offer insurance. If not, at least they can point you in the right direction.

How does art insurance work?

The whole concept is simple. You will insure your belongings, and if something gets damaged during transport, you get reimbursed. But what you should know more about is how each piece is valued. There are several ways of doing this, but in most cases, insurance companies focus on the item’s value at the time when the damage occurred. Also, there is a declared value that comes from your fine art dealer, and the purchase price, along with the replacement cost in case of damage. If your item is irreplaceable and worth millions, then there are only a couple of companies in the world that will insure it.

two people discussing should you get insurance coverage when moving fine art
Make sure you understand how it works and what your coverage is before signing an insurance policy.

Think of insurance as a safety net in case something bad happens. If you don’t have it, an accident can cost you a fortune. So, do not dismiss fine art insurance when you realize how expensive it can be. But this is something else, and you should think about your budget before you ask yourself, “Should you get insurance coverage when moving fine art?”.

Several scenarios you should be aware of

When you talk to your insurance agent, be persistent and ask them to go through all the scenarios where you are getting compensated. Especially to go over those where you are not. For example, you can purchase moving insurance where your items are covered during transport. However, there are some things that can happen before and after this period that might directly affect your items. This can be improper packing, damages while loading the vehicle, etc. In those cases, unless you have purchased the full coverage, the responsibility for your artwork will be on you.

Don’t ask your company to reimburse you after storing your artwork in a moldy and moist storage unit for a month. Such improper handling is your fault, and you will never be reimbursed for it. On the other hand, you will be reimbursed if your items are damaged by a flood, fire, blizzard, or any force majeure. But when you draw the line, insurance companies will assess the damage and upon evaluation, decide if you are eligible for reimbursement and for how much.

Who will transport your fine art?

Obviously, you will settle with a reputable and professional residential movers Brooklyn. Most moving companies have dedicated experts skilled in fine art moving. All you must do is find one online and do a background check as we have mentioned before. More so if you are purchasing the insurance from them. So, check FMCSA to confirm your moving company is licensed and eligible to transport such valuable cargo. Then simply call them for all other specifics such as tools, vehicles, manpower, knowledge, prices, quote, etc. Find a good moving team and it will lower the chances of moving mishaps significantly.

two movers carrying a chair
All you need to transport your fine art safely is a reputable moving company.

Should you get insurance coverage when moving fine art – the final decision

You are the only one that can decide whether should you get insurance coverage when moving fine art or not. Start by going over the costs you must include in the moving budget to figure out if you can afford this. However, we can tell you that it is always good to have some kind of insurance when relocating valuable items. And the higher the item value, the higher the need for good insurance and proper coverage.