Art, Antique and Collectibles Insurance in South Africa

The art of insuring the irreplaceable...

Art Antiques and Collectible Insurance 
Consider appropriate Art Insurance where paintings, antiques, sculptures
and other collectibles are exposed to risks

Why Art, Antique and Collectibles Insurance:

Valuable art, antiques, collectibles and jewellery are stolen from corporates, collectors, exhibotors, art & antique dealers and individual home-owners every year. These items may have been bought as investments, or they may have been inherited pieces with both sentimental and financial value. How does one go about insuring such valuable items appropriately?

Very often the clients themselves don’t have all the necessary information about the nature and value of an item. There is frequently a large gap between what the client believes the artwork or collectible is worth and its actual value. The important thing is to do considered underwriting and obtain credible valuations upfront. Consult experts who can confirm authenticity and provide an expert valuation. It is crucial to do this at the outset to ensure appropriate insurance cover. No-one expects the Broker to know the value of a collector’s piece – that is why you need a specialist valuation.

Works of art, antiques, collectibles and valuables are unique in that any damage to them results in immediate devaluation. Precious collectibles are irreplaceable – even if you receive monetary compensation in the event of a loss. You still want to be financially compensated if they’re lost, stolen or damaged.

Risks to also consider: Art works covered under a general household or commercial policy will be subject to 'the average clause'; Damage due to fire, more-soever, the smoke from the fire is a huge risk; Water damage is also a huge risk factor; Artworks covered under a general household or commercial policy will be subject to 'the average clause'.

The value of art collections can escalate fairly rapidly, therefore it is necessary to re-evaluate these artworks at least once a year to ensure the art insurance cover remains adequate. It is also worth acquiring the help of a professional appraiser, to determine how much insurance is best suited to your needs.

It is important to keep well documented records of receipts of sale and any other information to substantiate the value of the art work/s. You could even take photographs or a video clipping of the collection. Always keep a list of inventory items of all the artworks, even if you are only insuring some of them.

DIB Solutions (Pty) Ltd have partnered with reputable underwriters and various insurance companies in order to assist our clients with appropriate Insurance cover – we can therefore also assist clients with tailor-made products (where applicable) at competitive premiums. We provide a professional and personal service, as well as build long-term relationships with our clients. Being a specialist niche area, all product options should be considered. These options may be confusing – therefore discuss your individual needs with one of our experts.


Items that may fall under Art, Antique and Collectible Insurance:

  • Antiques, rare books and carpets;
  • Coin collections, valuable paintings, stamp and similar collections, vases and ceramics.
  • Jewellery, metal ware, gold and silver tokens;
  • Militaria and musical instruments;
  • Paintings, sketches and prints;
  • Political memorabilia or collections;
  • Porcelain, pottery, ceramics, glass and similar objects of virtue;
  • Sculptures and statues;
  • Sporting memorabilia or collections.

Art Insurance cover options may include the following:

  • Access to specialist restorers and appraisers;
  • Art frequently requires transportation and many claims arise as a result of damage and theft during transit. There will be situations that works of art will need to be in transit to destinations for framing, display purposes at an exhibition or for restoration purposes;
  • Buy-back – in the event of recovery;
  • Consider full coverage for the loss, theft, or damage (including fire & water) – whether on your premises, in transit, or entrusted to third parties;
  • Damage due to water, fire and even smoke, are huge risk factors;
  • Defective title cover;
  • Full cover on accidental damages;
  • Recognising certain items forms parts of sets or pairs;
  • Temporary storage;
  • Third party entrustments.

Please contact us today for fast, friendly, professional advice and service!

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