4 Pillars of Good Stewardship for Art & Instruments
Those of us privileged with owning fine art and instruments have a responsibility to protect them for future generations.
These good practices will help protect your art and instruments, your bank balance, and – to some extent – your legacy…
1. Valuation: changing trends in the art, antiques and jewellery markets mean that the replacement value is constantly shifting - and premiums may need adjustment (up or down). If you’re not aware of the value of your assets (or if it’s not documented), you could find yourself significantly under-insured. After the trauma of a theft, the last thing you need is the worry of a difficult negotiation over the value of each piece. Regular valuation, inventory appraisal and photographic records will all help.
2. Security: better protection can mean lower premiums; insurers recognise the extra care taken. If your jewellery collection is valued over £15,000, consider installing a home-safe (and for collections over £30,000, a second safe connected to the alarm system). We can advise on security marking, and anti-intruder installations that won’t compromise the integrity of your home.
3. Insurance: make sure you have a personalised policy fine-tuned for your specific needs and lifestyle. These need not be prohibitively expensive; indeed fine art and instruments normally cost less to insure than standard contents - especially if you have evidence of taking extra steps to protect your belongings. If you’re still buying ‘standard’ homeowners’ policies, you might be in for some surprises when you make a claim - read our 5 good reasons art & instrument collectors need specialist insurance.
4. Documentation: it’s important to keep safely:
This can really help with claim resolutions and the repair or replacement process.
Talk to one of the La Playa team for guidance and a no-obligation review of your insurance needs.
T: 020 7002 1544
Mr P, Private Client
You can call us to talk more about your business on +1 646 665 7737
La Playa's Personal Risk Concierge service means advice you can trust - from an expert who understands you:
As an independent broker, we can advise on the best policies available - and on risk management measures including valuations, security, fire prevention and property marking - preserving the value of your property and giving you complete peace of mind. We have access to excellent terms with high net worth insurers including Chubb, Hiscox and Hartford.
What does “Boutique Service” actually mean?
La Playa’s Personal Risk Concierge means:
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*subject to availability with our insurer panel