Artwork insurance

[lightinthemirrorstormyoutside]

Bit of a random one but we've just come into possession (legally ;) of a painting which I'd like to get insured and no idea if I can just add this to my home insurance or it would make more sense to get it insured separately.

It's not something I've ever had to think about before - does anyone know the best way / company to get it insured.

Thanks

Do you have a valuer’s opinion on what it’s worth? If not then take it to a decent auction house and ask them for an insurance valuation (which is not the same as a valuation for sale - you have to pay a lot more than auction value to buy a replacement at retail prices). Check your home contents insurance policy to see if there are exclusions for something like this, and if not, what the maximum value per item is. If your new piece is within that, you might be able to just add it specifically to your policy.

There are specialist insurers if you need a higher level separately, but I’ve been out of the art world for some time now and I don’t know who would be recommended these days. You could check out magazine ads etc to get some ideas.

Enjoy your new piece!