Insurance for the transport of works of art and valuable items

The transport of works of art and valuable items requires increased vigilance and robust protective measures to ensure the integrity and security of the goods being transported. Transport insurance is one element of this protection. There are two main types of insurance used for the transport of works of art, which cover the services offered by Group ESI: nail-to-nail insurance and ad valorem insurance.

Nail-to-nail and ad valorem insurance: two types of coverage for your transported and stored works of art

Nail-to-nail insurance

Nail-to-nail insurance covers works of art from the moment they are taken down or dismantled from their original location until they are installed at their final destination, from the initial hanging nail to the hanging nail at the destination. This insurance is particularly useful for temporary exhibitions, loans of works, and auctions.

It is aimed at museums, art galleries, art dealers, and private collectors in particular.

In the event of a claim, it guarantees compensation in accordance with the terms of the signed insurance contract, covering the entire duration of transport, including temporary storage phases. Insured parties benefit from comprehensive coverage throughout the entire duration of transport.

As a carrier, whether by sea, air, or land, we ensure that every step, from loading to unloading, is covered.

Ad valorem insurance

Ad valorem insurance covers goods up to their declared value.

Unlike insurance based on weight or volume, ad valorem insurance guarantees compensation proportional to the value of the goods transported.

This coverage base is more suited to the high value of exceptional items such as works of art, which are valuable objects requiring comprehensive financial protection.

Group ESI emphasizes the importance of insurance for the transport of works of art

Taking out insurance for the transport of works of art is essential for several reasons.

It offers financial protection by compensating for the value of the works in the event of damage, loss, or theft, which is essential for collectors, museums, and galleries handling valuable items.

Insurance also provides significant peace of mind, allowing works to be transported and exhibited without fear of damage.

 

What risks are covered by the insurance policies included in Group ESI’s services?

The insurance policies included in Group ESI’s services cover several risks associated with the transport of works of art:

  • They offer essential financial protection in the event of a disaster. This means that compensation is paid out quickly if damage is suffered.
  • They cover carriers’ limitations of liability and possible exemptions, such as cases of force majeure or gross negligence.
  • Insurance covers the specific risks associated with each type of transport used during the journey (sea, river, road, or air).
  • Property damage, theft, loss, and natural disasters are also covered.
  • Insurance guarantees the protection of the works during handling, loading, and unloading operations, ensuring that the works arrive at their destination in perfect condition.

Transport and storage insurance for artworks for museums, galleries, and private collectors

For museums, galleries, and private collectors, transportation and storage insurance is necessary to protect valuable works of art against theft, accidental damage, loss, and natural disasters.

To do this, you must first accurately assess the value of the collections in order to obtain adequate coverage. Specialized insurance policies include specific clauses for works of art, such as increased protection during temporary exhibitions or inter-institutional loans.

Thorough documentation of the condition of items before and after transport is essential to facilitate claims. Investing in appropriate insurance protects not only the financial value of the works, but also their cultural heritage, whether through nail-to-nail or ad valorem insurance.

Transport insurance for interior architects, designers, and decorators

For the transport of furniture from one home to another, for installation on a private yacht, etc., for works of art from auction houses or art dealers, or for prototypes, it is essential to take out specific transport insurance.

This insurance covers the risks of damage, loss, or theft during transport. It is recommended that you thoroughly document the condition of the items before they are shipped.

It is essential to carefully read and fully understand each term and condition of the insurance policy to ensure that all possible situations are covered.

At Group ESI, our team of technicians are experts with globally recognized expertise. We offer secure, high-quality transportation services to ensure that the integrity of the works of art and precious objects being transported is preserved.

By understanding insurance coverage and the insurance process, owners and carriers ensure that these treasures arrive in perfect condition.

When should I take out transport insurance for shipping my works of art?

If your products are not covered by a floating policy, Group ESI can take care of covering you with comprehensive insurance. This service allows you to plan your next shipment to a trade show or exhibition, or throughout your move, with peace of mind. Although some standard insurance policies may cover the works, it is important to check the amounts covered and the specific conditions of transport. As soon as the value of your works exceeds these liability limits, it is essential to take out appropriate transport insurance.

Should you take out insurance for your art objects during storage?

Yes, it is essential to take out insurance for your art objects when storing them. It is essential to cover various risks such as fire, explosion, lightning, and natural disasters, as well as water damage, electrical damage, and burglary, to name a few. The customer, as the principal, must ensure that their property and goods are protected. Specific insurance can be taken out on request, specifying the risks to be covered and the values to be insured. The cost of this additional insurance shall be borne by the principal.