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.
Quote within 24 hrs
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.
Careful listening to really understand your needs and priorities
As much help as you need with completing forms to provide risk information
A discreet and complimentary appraisal* of your property to assess the risks and ensure you have the right cover where you need it
An independent market review - so you don’t have to shop around comparing policies, cover limits, risks covered and smallprint exclusions
Careful monitoring of the insurers’ financial strength, claims and customer service
An independent recommendation of the best policy for you - and why
Specialist policy wordings from underwriters who have demonstrated excellence and deep understanding of your risk exposures. We have analyzed a wide range of policy wordings and have selected only the best for our panel. Our advisors have a deep working knowledge of these policies
An intelligently designed portfolio of protection across multiple asset classes and territories
Advice on how best to manage your risks - to keep you safe but also to keep insurance costs down
A dedicated advisor so you can speak to the same person each time.
Expert guidance on valuations, security and risk management, and connecting you with specialist advisers and suppliers
Direct phone and email access to your adviser for questions and advice. We aim to pick up calls within 3 rings and to respond to emails within 60 minutes
Policy documents emailed to you - no logins and passwords to remember
An advocate beside you if you make a claim - thinking laterally to mitigate the impact, making useful connections to get you back up and running, and driving through a swift financial settlement
No call centers, hold music, hidden fees. with La Playa, you are our most important client.*subject to availability with our insurer panel