Insuring an expensive household item

[Thingsthatgo]

This is all new to me because we don’t have expensive things, we tend to spend our money on other things. Even our car is 20 years old.
Anyway, I discovered today that a piece of artwork that we bought 10 years ago for £100 is now worth £10,000. I knew it had gone up a bit because I follow the artist on twitter, and it’s clear that he has become very popular. However, I enquired about a recent print he’d made, and at the same time asked about the value of the work I have, and he said recently a similar one sold for £10k He asked for some decent photos because he is going to send me a certificate of authenticity.
Anyway, I don’t want to sell it, so I shall need to insure it. How do I go about doing that? Do I need to use a specialist art insurance company? Is this going to cost me a lot of money?!

Although we don't have artwork, we do have loads of outbuildings which most household insurers struggle with. A few years ago we found Hiscox. They cover all sorts of situations, looking at our policy schedule, artworks and garden statutes(!) up to a value of £10k each are covered. Over that figure they have to be individually identified. Jewellery up to £5k per item is covered. Never had to make a claim yet but their wordings are clear and unambiguous.

result!!

first thing is to speak to your current insurer - they all have a 'specified high value item' section so you can add it on there, at an increased premium of course. If the figure is too high you can shop around, you may have to pay a termination charge for your current insurer but it could work out cheaper.