If you plan on displaying valuable art as part of your business, purchasing art exhibit insurance could be something that you want to consider. If the art were damaged or stolen, you could lose a great deal of money without insurance. Here are a few things to consider about art exhibit insurance and how it works.

Art Exhibit Insurance

Many businesses have the need to purchase art exhibit insurance at some point. If you have a business that regularly displays art, this type of insurance will be essential. For example, if you attend trade shows or other traveling shows, you should purchase this type of insurance so that your art collection will be protected. This type of insurance is also valuable if you are borrowing art from another business to display in yours.

Coverage Term

When you are considering purchasing art exhibit insurance, you will need to be aware of the coverage term of the policy. Every insurance policy will have a different amount of coverage that is provided. You need to make sure that you understand how long the art exhibit will be covered and exactly when the coverage ends. For example, you could purchase a policy that lasts for only a few days, or several months.

You should also research if the coverage can apply to multiple exhibits. Some policies will only cover one show, while others can be purchased to cover you periodically over the course of a year. 

Attendee Restrictions

Another important factor of this type of insurance is that you should find out whether there are restrictions about the people that can attend the art show. In some cases, policies will require that professionals you are trained in handling art exhibits be in charge of the exhibit at all times. Others are less strict into they allow to be around the art. You need to make sure that you are not in violation of the policy that you select.

What is Covered

Another important factor to look at is what exactly is covered by the insurance policy. There are many things that can happen to your art while it is on display. You need to make sure that all of the different risks that your art is subject to will be covered. For example, the art could be damaged by fire or water. It could also be stolen or damaged by the negligence of guests. Make sure that your policy does not exclude any common possibilities of damage to the art. 

Renewing Coverage

You should also spend some time making sure that you understand how to renew your insurance coverage. Every policy will have some differences when it comes to how they are renewed. Sometimes, you will have to actively seek out your insurance agent in order to renew the policy. Other times, it will renew automatically unless you stop the policy.

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