Fine Arts – Museums & Dealers

Fine arts coverage is available for museums and fine arts dealers and may also be used to provide floater coverage for antique and collectible items for other businesses.

Features:

  • Broad definition of Fine Arts, including: paintings, etchings, pictures, tapestries, rare or art glass, art glass windows, valuable rugs, statuary, sculptures, antique* furniture, antique* jewelry, bric-a-brac, and porcelains. (* Antique is defined as 100 years old or older)
  • Can also cover sports memorabilia and vehicles at least 25 years old.

Examples of Desirable Risks:

  • For museums, our coverages are ideally suited for local or regional museums and historical societies.
  • For dealers & general floaters, our programs target well established businesses with experienced and financially secure owners, good inventory controls and record keeping, operating in good quality buildings with good housekeeping and appropriate fire and theft protection.

Low Desirability:

  • Poor housekeeping
  • Inadequate theft or fire protection
  • High values in transit or at shows
  • Flea markets
  • Poor record keeping
  • Items located or shipped outside of Indiana Insurance operating territory (IA, IL, IN, MI, MN, ND, NE, SD, WI)

Museum Coverage

  • Coverage available for owned property and property of others that is on display (70% coinsurance applies)
  • Valuation for owned property is cost to restore, to replace or fair market value. Valuation for Property of others is cost to restore, agreed value, or fair market value if no agreed value is documented.
  • $20,000 automatic sublimit for property in storage (no coinsurance applies to this sublimit)
  • $15,000 for property at other locations
  • $15,000 for property in transit
  • $15,000 for cost of preparing inventory
  • $15,000 for equipment, tools and packing materials, both on premises and accompanying outgoing loans
  • $5,000 for off-premises power service interruption coverage
  • $10,000 reward coverage

Floater Coverage

  • Valuation is on an agreed amount based on schedule provided
  • Appraisals required on items valued at $25,000 or more
  • May add transit coverage and coverage for property temporarily off premises for framing, exhibition, renovating, packaging or appraising
  • Endorsement available to provide coverage for breakage, marring and scratching
  • Flood and earthquake coverage available

Dealer Coverage

  • Valuation is purchase price plus expenses (up to 25%)
  • Provides coverage for fine arts of others in your care, custody or control including on consignment
  • May add coverage for transit, exhibition, property at premises of a customer, or property temporarily off premises
  • Flood and earthquake coverage available

Antique Auto Coverage

  • Eligible vehicles must be maintained solely for investment, hobby or exhibition
  • Valuation is agreed amount with supporting appraisal
  • Spare or replacement parts may be covered upon request
  • May cover dealer and museum exposures
  • Antique Autos must be:
    • At least 25 years old
    • All original or restored to original condition
    • Garaged when not in use
    • Operated by driver with clean driving record
  • Antique Autos may not be:
    • Driven more than 2,500 miles per year
    • Driven for daily transportation
    • In poor condition
    • Modified from original design
    • A hot rod or high performance vehicle


Contact us at:

inland@indiana-ins.com

Indiana Insurance member underwriting companies: (Not all companies may be licensed in all states.) American Economy Insurance Company, American States Insurance Company, American Fire and Casualty Company, American States Preferred Insurance Company, Consolidated Insurance Company, First National Insurance Company of America, General Insurance Company of America, Hawkeye-Security Insurance Company, Indiana Insurance Company, The Midwestern Indemnity Company, The Netherlands Insurance Company, The Ohio Casualty Insurance Company, Ohio Security Insurance Company, Peerless Indemnity Insurance Company, Peerless Insurance Company, Safeco Insurance Company of America, Safeco Insurance Company of Illinois, Safeco Insurance Company of Indiana, Safeco National Insurance Company, and West American Insurance Company.