Art insurance is a type of specialty insurance that covers fine art, including paintings and sculptures, and there are two types of art insurance policies available. Property policies cover your pieces from damage and theft, and title policies reimburse you for the cost of the artwork if a lienholder comes forward and claims rightful ownership.
Art insurance is not as widely available as home or auto insurance. To help you find the best art insurance provider for your home collection, we identified the top art insurance companies based on coverage options, unique features, policy limits, and price. We paid special attention to companies with many years of experience insuring fine art. Keep reading to find out which insurance is best for you.
Best Overall : PURE Insurance
Why We Chose It: With flexible coverage options, a dedicated concierge service, and fair pricing, PURE Insurance is the best overall fine art insurance provider.
Affordable policies that are based solely on collection value
Savings opportunities for safe storage
Member concierge program
No title coverage available
Policies don’t include coverage for loaned pieces
PURE Insurance, which stands for Privilege Underwriters Reciprocal Exchange, was formed in 2006. The company sells a variety of insurance products, with a special focus on high-value homeowners insurance.
PURE Insurance offers customizable coverage with either scheduled or blanket coverage based on the size and value of your collection. If you move houses or travel with your art, your pieces are automatically covered anywhere you go.
One of the most unique features of PURE Insurance is the member concierge program. New policyholders get partnered with a dedicated representative who can schedule appraisals, find home security companies, and more. If you need to file a claim, you’ll work directly with your concierge, who will advocate for you throughout the claims process.
With a scheduled coverage policy, you have up to 90 days to insure newly purchased artwork. If something happens to the piece before it’s scheduled, PURE will cover it up to your policy’s replacement cost limit. PURE also protects market increases and losses to pairs and sets.
PURE Insurance prices its policies based on the value of your collection without any markups. You can get a lower insurance premium by storing your art in a bank vault or home safe and getting updated appraisals at least once per year.
To get a quote, you’ll need to request a proposal online and submit some basic information about yourself and the type of policy you’re looking for.
Best for Title Policies : Chubb
Why We Chose It: Chubb is one of the few art insurers that sells art title policies, which is something you need if your pieces have had multiple owners in the past.
Policies include agreed value coverage
Approved claims are paid out within 48 hours
Cash settlement option for total losses
Policies tend to be more expensive
Few options to customize your coverage
Chubb is the biggest publicly traded property and casualty insurance company in the world, serving customers in 54 countries. The company is known for its high-value home insurance policies and valuables coverage.
Chubb’s fine art insurance coverage is generous with lots of unique protections. Your collection is covered under agreed value so you know exactly how much you’ll get after a covered claim. Every policy includes worldwide coverage, automatic coverage for new items, and market increase coverage. Plus, your policy stays active if you loan pieces to a gallery or museum.
If you get involved in a title dispute, Chubb will reimburse you for your legal costs. And if you are not the rightful owner of the artwork, Chubb will reimburse you for the cost of the piece. The maximum amount that Chubb will pay out for a defective title claim is $100,000 per policy period.
One of the only downsides of Chubb is that the policies tend to be expensive. The standard art insurance policies come with a high level of coverage, but you don’t have the option to customize a policy and remove coverages you might not need.
In terms of claims processing, Chubb is one of the best. In 98% of cases, Chubb’s claim adjusters reach out within six hours after the claim is filed. Assuming your claim gets approved, you’ll get paid within two days. The company also has good customer service, and you can call an agent in your state to get a quote.
Best for Property Policies : Huntington T. Block
Why We Chose It: Huntington T. Block specializes in art insurance, so its property policies are designed to cover your collections against any potential loss you might face.
Comprehensive property protection for single pieces or collections
Claim adjusters have expertise in fine art losses
Several endorsements available for extra protection
Not much coverage outside of property protection
Website information is somewhat limited
Huntington T. Block (HTB) was founded in 1962 and was the first fine art insurance policy underwriter in the United States; today, it remains the largest carrier.
HTB’s art insurance policies are written on an all-risk basis, which means virtually any type of loss is covered, including flood, breakage, and even mysterious disappearance. The only perils that are not covered are war, terrorism, nuclear events, wear and tear, insects, pests, and inherent vice. If your pieces are damaged, destroyed, or stolen, a policy from HTB will reimburse you for the item’s value.
Whether you keep your fine art collection at home or loan pieces to a museum, HTB will cover your items, anywhere in the world. You can also add extra protection for domestic and overseas transportation if you need to travel with or ship your artwork to another location.
Additionally, HTB offers several policy enhancements, including coverage for fine art legal liability, valuation clauses, and waivers of subrogation. HTB will also work with you to word your policy in a way that meets your specific needs.
To get a quote from HTB, start by filling out their online contact form. Then, you will need to submit a formal application with detailed information, like what type of home you live in, the distance to the nearest police station, and the value of your collection and number of items. You can use an online form to file a claim.
Best for Policy Customization : AIG
Why We Chose It: AIG offers the most customizable art insurance policies with generous coverage and unique features you won’t find from other providers.
No deductible policies
Art is covered on an agreed value basis
Standard policies come with lots of different coverages
Loss prevention advice and disaster planning
No title insurance policies
Policies can be expensive
AIG was initially founded in 1919 as AAU in Shanghai, China. The company expanded to the United States in 1926 and became a publicly traded company in 1984. Today, AIG operates in 80 countries. Of all the art insurance providers we reviewed, AIG offers the most customizable art insurance policies on the market.
With a policy from AIG, your collection is insured based on its agreed value. Policies include worldwide coverage, including during transit. You can get immediate coverage for newly purchased artwork, plus coverage for pairs and sets. And best of all, you never have to pay a deductible.
AIG is the only art insurance provider we reviewed that will insure artwork that is used as loan collateral. If you take pieces home on loan before you make the final purchase, your fine art policy from AIG will cover them. Plus, AIG offers coverage for commissioned, in-progress pieces.
In addition to the generous coverages that come standard with every policy, you can also take advantage of services like on-site vulnerability assessments, emergency planning, coverage reviews, and framing assistance, to make sure that your collection is always adequately protected.
You can purchase fine art insurance through AIG’s exclusive Private Client Group, which has many years of experience handling artwork. Fine art specialists work closely with conservators and appraisers to manage your claim, safely pack and ship your art when necessary, and help you get the highest payout.
You can request a quote from AIG by filling out an online form with some basic personal information. Keep in mind that AIG does not underwrite its policies in every state, so your quote might be provided by an independent agent.
Best for Art on Loan to Museums : Travelers
Why We Chose It: If you’re planning to loan pieces in your personal collection to a gallery or museum, a policy from Travelers will make sure your fine art is protected during transport, installation, and presentation.
Travelers understands the risks that artwork faces during the loan process
Almost any type of art qualifies for coverage
Works with expert shippers to transport art safely
Fewer coverages than other providers
Limited information online about its policies
Travelers Insurance was originally founded in 1864. The company merged with The St. Paul Companies in 2004, and three years later, officially rebranded as The Travelers Companies, Inc.
We recommend Travelers to art owners who plan to lend pieces in their collection to museums, galleries, or other institutions. Travelers’ fine art insurance policies protect your artwork in any fixed location, during transit, and while the pieces are being loaned to other organizations.
Travelers has experience working with galleries and museums to insure and protect their permanent installations, so you can rest assured that the company will take care of your pieces using the safest care and most reliable handling.
In fact, Travelers partners with special fine art shippers that handle, pack, transport, and store artwork as their sole responsibility. If you need a specific type of transit, Travelers can work with you to find a solution that will meet your requirements and keep your art safe.
While Travelers is a great insurance provider for loaning your artwork to other people, it has a few downsides. For one, the company offers fewer coverage options than many other providers we reviewed. Travelers doesn’t advertise coverage for market increase changes, automatic coverage for new items, or agreed value coverage.
To get a quote or file a claim, you’ll need to find an agent in your area. We also recommend asking an agent about any unadvertised coverages that may be available in your state.
Read our full Travelers review.
Most Affordable Policy Options : Progressive
Why We Chose It: Progressive is our top pick for low-cost art insurance policies, which is ideal if you need a moderate amount of coverage without the hefty price tag.
Progressive offers some of the cheapest policies on the market
Art insurance is available as a home insurance endorsement or standalone policy
Best for moderately priced pieces in your home
Limited coverage options and information online
Doesn’t cover art that is outside of your home
Progressive was founded in 1937 and is a leading property and casualty insurance provider. As of 2018, Progressive had 20.4 million policies in force, serving more than 18 million customers around the country.
If you’re looking for an affordable policy to cover your fine art, we recommend checking out Progressive. Progressive’s fine art insurance policies include the basic coverages for property damage, theft, and mysterious disappearance. But the company doesn’t provide coverage for art that is loaned to a museum or gallery, nor does it cover your artwork anywhere outside your home.
Although Progressive’s art insurance policies are cheap, you get what you pay for. The fine art insurance policies offer very limited coverage compared to other providers. We only recommend Progressive if you have a moderately priced piece that needs a minimal amount of coverage and will be permanently installed in your home.
You will need to contact an agent to get a personalized insurance quote for the size and value of your collection.
To file a claim with Progressive, you can contact an agent via phone. If the loss is covered, you will be reimbursed based on the cost of the repairs. If you have artwork that is stolen or lost, you will get reimbursed for the replacement cost value based on Progressive’s calculation.
The art insurance marketplace isn’t huge, but there are a handful of providers that are worth checking out. As you can see, each company has its pros and cons. Chubb and AIG offer great coverage, but the policies are pretty expensive. Travelers and Progressive offer limited coverage with cheaper options.
Overall, you can’t go wrong with a fine art insurance policy from PURE Insurance. Of all the providers on our list, PURE offers the most comprehensive coverage and the best customer service. It’s a solid choice for anyone who is in the market for art insurance.
|Insurer||Why We Picked It||Types of Policies||Policy Costs|
|PURE Insurance||Best Overall||Property||Price by quote|
|Chubb||Best for Title Policies||Property and title||Price by quote|
|Huntington T. Block||Best for Property Policies||Property and title||Price by quote|
|AIG||Best for Policy Customization||Property||Price by quote|
|Travelers||Best for Art on Loan to Museums||Property||Price by quote|
|Progressive||Most Affordable Policy Options||Property||Price by quote|
What Does Art Insurance Cover?
Art insurance protects your fine art collection from potential losses. There are two types of art insurance available, property policies and title policies. Property policies reimburse you if your artwork gets damaged, lost, or stolen. Title policies pay for your legal fees and the cost of the artwork if you get involved in a title dispute and are not found to be the rightful owner.
How Much Does Art Insurance Cost?
The cost of art insurance depends on several factors, like the value of your individual pieces, the value of your collection as a whole, the type of policy you need, the amount of coverage you need, and your deductible (if there is one). Additionally, every company charges a different base rate for art insurance.
Should I Purchase an Art Insurance Policy?
Purchasing art insurance is a personal choice and not everyone needs it. You should base your decision on the value of your collection and the risks your artwork faces. For example, if your art collection is kept in a bank vault, you might be able to get away without insurance. But if your art is hanging on the walls of your living room, or you often lend pieces to other people, investing in an art insurance policy is a good idea.
Is Art Insurance Worth the Cost?
Having art insurance is worth the cost if you have a large collection or even a single piece of art that is worth a lot of money. Without art insurance, your pieces are vulnerable to potential losses, like a home break-in or water damage. If anything were to happen, you would be financially responsible for repairing or replacing your pieces out-of-pocket, as well as your legal fees in the event of a title lawsuit.
To compile this review of the best art insurance providers, we researched and evaluated 10 companies and rated each one using criteria like coverage options, unique features, policy limits, price, customer service, and claims handling.
Our top picks all stand out for their custom pricing, industry experience, coverage options, and top industry and third-party ratings.