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From your home and valuables, to prized collections and jewellery, you have a lot to insure. When you insure your home and contents with Chubb, you will receive a high level of service from an insurer who is specialised in working with successful individuals with high value assets.
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You’ve worked hard to assemble an art collection you can be proud of. To help ensure that it stays in top condition, year after year, we’ve put together five essential strategies for you to follow regularly.
1. Make sure your disaster preparedness plan is up to date
Update contact information for your emergency response team, including art handlers, storage facilities, and conservators. You may want to contract with a specialised storage facility that can allocate handlers, vehicles, and storage space for your collection in the event of a disaster. Update any special considerations for moving items, such as unique tools required, the location of crates, or instructions for unlocking display cases, and make sure your household is prepared to respond quickly and efficiently.
2. Update your inventory
If you don’t keep a detailed inventory, consider hiring an appraiser to complete a thorough inventory then upload the inventory to a cloud-based or online asset management system. Store a back-up version in a secure secondary location.
3. Get updated appraisals
To locate a qualified appraiser, consult the member databases of Auctioneers and Valuers Association of Australia (AVAA). Confirm with the appraiser that their reports are compliant and let them know how the appraisal will be used, so they can provide the appropriate report.
4. Inspect frame hardware
Over time, nails can become brittle and nails used for hooks can loosen in the wall, causing the painting to fall. Consult with a professional art handler to inspect your collection’s hardware and make any necessary updates.
5. Consult a conservator for outdoor sculptures and works on paper
Consider getting an annual or seasonal inspection of your delicate paper works of art and any outdoor pieces that are exposed to weather, to keep them in good shape. To locate a quality conservator, consult the member database.
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