Personal Collections Insurance
Individuals who have created a personal art collection will normally want to ensure that their collection is comprehensively protected against loss, theft, or damage.
CCW Global can provide high quality Personal Collections Art Insurance plans to individuals in Hong Kong which will provide high-quality coverage for your collection against a range of diverse risks.
Art Insurance Benefits
Coverage Against Loss or Damage of the Collection
With this type of Hong Kong Insurance plan your collection will be covered against the risk of physical loss or damage while in your home, and any eligible expenses associated with the loss or damage incident.
The Personal Collections Art Insurance policy will also provide coverage, on the same terms, in the event that your collection, either in whole or in part, is temporarily located outside of your home. This coverage is available no matter where in the world the items may be located, provided that appropriate measures have been taken to properly transport the collection or items within the collection to a secondary location.
60 Day Coverage for New Acquisitions
A Personal Collections Art Insurance policy in Hong Kong will provide insurance coverage against any physical loss or damage to newly acquired items within the collection. In order to receive this protection policyholders must notify the insurer within 60 days of purchase of the item and pay an additional premium.
Coverage against Defective Titles
One of the biggest fears for individuals with valuable personal art collections is having to relinquish possession of a prized item due to a defective, challenged, or non-existent title provided by the original vendor. Incidents of disputed ownership for valuable works of fine art are increasing, especially as the works themselves continue to rise in value.
With a Personal Collection Art Insurance plan in Hong Kong you are covered for the amount you paid for a work which you have been required by law to relinquish due to a vendor’s lack of title or defective title on the item you purchased. Additionally this coverage also includes any charge or encumbrance placed on the work prior to your purchase, of which you were not aware.
Coverage against the Death of the Artist
In the event that the artist who produced works within your collection dies, leading to an increase in value of the works, where the art then suffers physical loss or physical damage, you can be covered for up to 100 per cent of the agreed valued of the works.
This coverage is subject to the provision that you are able to provide an independent valuation, not more than 3 years old, showing that the works have increased in value over the coverage agreed upon when you initially purchased the insurance plan.
Personal Collection Art Insurance Quote
If you would like a free quote for a Personal Collection Art Insurance plan in Hong Kong please complete the short form located here.
If you have questions about CCW Global's Art Insurance and specialist insurance quotation process please visit Specialist Art Insurance Quotes for more information.
You can also learn more about the Personal Collection Art Insurance plans offered by CCW or our complete range of Art Insurance products in Hong Kong, by Contacting Us Today.
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