Art insurance covers your works of art and art collections (e.g. paintings, prints or sculptures), antiques, jewellery or themed collections (e.g. classic cars, toys) against risks such as vandalism, theft or damage caused by accidents. The cover also extends to increases in value and new acquisitions.
Your benefits
Why take out art insurance?
Prompt assistance in the event of a claim
Coverage of the costs of restoration or replacement up to the insured value
Comprehensive cover
Damage caused by fire, water, burglary, robbery, vandalism and simple theft is covered
Accidents covered
Coverage of costs incurred, even in the event of mishaps caused by others or by yourself
Tailor-made solutions
Coverage is available for individual works of art, or can be extended to cover other residences
Fair value
Valuations of the insured sum by experienced art experts and a mutually agreed value
2 packages to choose from
Art insurance only, or a combined policy covering home contents and art, including transport cover for jewellery
The premium is always calculated on a case-by-case basis – it depends primarily on the items to be insured and the policyholder’s needs.
How is the value of the art collection and the sum insured determined?
1.
You decide which works of art you wish to insure and have valued.
2.
Experienced art experts will catalogue and photograph your selected artworks on site.
3.
This is followed by a reliable valuation. There is absolutely no hassle for you.
4.
The final step is to agree on the sum insured.
What should you bear in mind when upgrading or buying a new one?
Should you expand your art collection, insurance cover is also available for new acquisitions.
Should the value of your insured art collections increase, this increase is also covered up to 20%.
Protecting your art – real-life examples
Case study 1
Marius Muster (42) is a keen collector of antiques. His flat is home to many unique works of art. He also enjoys wearing high-quality wristwatches. He is keen to protect his valuables with the right art and home contents insurance, which covers valuables, watches and jewellery.
Case study 2
Maria Muster (56) is an art lover who has devoted herself to collecting exceptional works of Fauvism and Expressionism. In her home, she has a number of antiques as well as several works by the French artist Henri Matisse. Maria Muster wants to ensure that all her cherished works of art and antiques are well protected.
Good to know
Frequently asked questions about art insurance
Are my artworks insured whilst in transit?
Yes, works of art specified in the insurance policy are also covered by the included third-party liability cover up to €100,000 whilst in transit.
Is my jewellery insured when I'm wearing it?
Yes, jewellery is covered under the art and household insurance policy up to €5,000 under the included personal wear and tear cover. This applies, for example, to pearl necklaces, rings set with gemstones and wristwatches.
Can you cancel art insurance?
If your art insurance policy has a term of more than three years, it may be cancelled for the first time at the end of the third year of cover and thereafter on an annual basis, subject to one month’s notice. You may also cancel your Allianz art insurance policy following the occurrence of an insured event.
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