Art can be a fickle property to insure from many standpoints. All homeowners’ policies either limit certain types of property such as collectibles, guns, silverware, jewelry, and furs to maximum dollar limits, which generally do not exceed $2500. Artwork such as paintings, sculptures, rare photos, and manuscripts are never covered for their appraised value unless they are scheduled on a floater policy, which agrees to insure each piece on an agreed or stated value which is supported by a bill of sale or appraisal. These policies are referred to as fine arts policies and are not as expensive as one might think. If you have inherited a family heirloom or have been given a beautiful painting, spend the time and money to get it appraised and insured properly. In the event of a unexpected loss, you will be happy that you did!
1676 Route 7A, Copake, N.Y.