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Insure Expensive Artwork

How to Insure Expensive Artwork

Artwork has always been a favorite of collectors and an increasing number of people are purchasing artwork not for its aesthetic value, but for its value as a financial asset. Anyone that obtains an expensive piece of art should waste no time in having it insured to protect it against damage from a wide variety of sources.


It’s critical for individuals to ensure they have all the necessary documentation to prove they own a piece of art, it’s been valued by an expert in the field, and its current valuation. A bill of sale is also required, photographs of the item, and a replacement estimate. The next step is locating an insurance company to provide coverage.

Insurance Companies

It’s important for people to know that all insurance companies don’t cover fine art. Insuring a painting or sculpture isn’t like getting coverage for a home or vehicle. Individuals will need to find an insurance company that specializes in works of art.

The average homeowner’s policy typically doesn’t cover those types of items and the insurance company will view the artwork as just another possession. Look for a company that specializes in insuring art. The art object will be insured at its most recent appraisal amount.


A wide variety of damage can occur to artwork including fire, floods and natural disasters. The damage can also happen from more mundane causes such as punctures, cracks and stains. The art could be stolen or damaged during the transportation process if it’s on loan to museums or for exhibitions. Restoration costs may not be included in the policy.

Keep Current

It’s a good idea to maintain provenance by having the piece appraised each year. It will be needed at tax time, ensures the valuation is current, is important for insurance purposes, if its being sold, and even for estate planning. Be sure and let the appraiser know that the assessment is being done for tax purposes.

For more information about how The Sena Group can help you with any

of your insurance needs, please contact us at 561-391-4661.

We can be found on Social Media at the following links.


The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487