If you love collecting pieces of artwork for your home, whether they are fresh new pieces by up and coming artists and designers or old faithful family heirlooms that have been passed down to you over the course of several centuries, you will be sure to understand the complex values a beloved piece of artwork can present. Not only are many of these pieces valuable in terms of material cost, they can also come to hold a value immeasurable in terms of money.
First of all, it is vital to consider just where the artwork is going to be displayed. Certain locations around the home will present a greater risk to the work itself. Hanging paintings above a fireplace, for example, could incur heat and smoke damage and any artwork in your kitchen needs to be thoroughly protected from cooking oils and odors which may interfere with certain kinds of paint and textiles.
Most home insurance policies, such as home contents insurance from Legal and General, will allow you to name certain items on the policy with a specific replacement value. This means that they are not merely included under the umbrella of your general possessions, but they will be given specific consideration within the policy and will be protected up to a specific value of your choosing.
Another possibility is to ensure the artwork within your home using a specialist insurance service, designed with art collectors and art lovers in mind and tailor made to fit their needs. Whichever option you choose, you need to take note of what your policy will cover you for. Is accidental damage included, for example, or would you only be covered for theft or domestic disaster such as a house fire? Filing through the small print will help you to fully understand the kind of deal you are signing up for.
However you choose to protect your artwork, it is important to take action immediately in order to minimize risk regarding those precious items that help to turn your property into a space that reflects your tastes and passions and thus becomes your home.
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