Art expresses culture, history and personal taste, and is often an investment too. Owners of artworks are responsible for preserving them and face considerable financial risk. Whether paintings, sculptures, antiques, photographs or contemporary art, all of these works can be damaged or destroyed beyond recovery by fire, theft, water damage or damage in transit. Art insurance (Kunstversicherung) gives specialist cover that goes well beyond standard home contents insurance.
Germany has a lively art scene with many collectors, galleries, museums and cultural institutions. Artworks can be worth a great deal, from a few hundred euros to millions. Standard home contents insurance (Hausratversicherung) is usually not enough for valuable artworks, as it either covers no artworks at all or limits their value sharply and deducts for wear. This is where art insurance comes in and gives suitable protection.
Art insurance differs from home contents insurance in several important ways. It covers damage in your own home and usually gives worldwide cover, including during transport, at exhibitions, on loan to museums or in storage. The value of the insured works is also set individually and paid in full after a loss, with no deduction for wear or age. This gives art owners reliable security.
Art insurance is for private collectors, galleries, auction houses, art dealers and cultural institutions. People who bought artworks as an investment, or who own them through inheritance or as a gift, should also think about suitable cover. The value of an artwork rises over time, and so does the risk of an uninsured loss.
Several factors need weighing when choosing art insurance: the type of objects insured, the basis of valuation after a loss, the territorial scope, how restoration costs are handled and how increases in value are treated.
We help you find the right cover for your collection, so your artworks are protected in any situation.
Art insurance benefits
Allianz ArtPrivat: all-risks cover for art and valuable furnishings.
Insured items: valuable paintings, sculptures, antiques, designer furniture, carpets, silver objects, collectibles, wristwatches, jewellery. Entire household contents from a sum insured of €500,000. Cash in unlimited amounts.
Scope of benefits: all-risks cover against every conceivable type of damage. New-value compensation for total loss. Replacement value for stolen or destroyed artworks. Restoration costs for damage. Worldwide cover (also while travelling). Can be extended to a second home or holiday house in Germany/the EU. 24/7 direct claims line. Expert advice from art specialists. Art Loss Register membership.
Damage included: fire, tap water, storm, burglary, robbery, vandalism, simple theft, loss, distraction theft, mishaps caused by residents or visitors, objects falling down.
Requirements: adequate security measures (safes, alarm systems).