Fine Arts And Antiques Insurance
Definition of "Fine arts and antiques insurance"
Coverage for paintings, pictures, etchings, tapestries, art glass windows, antique furniture, coin collections, and stamp collections owned by individuals and businesses. These works are not covered if owned by dealers or auction firms. Protection is on an all risks basis subject to exclusions of damage from ordinary breakage, wear and tear, war, and nuclear disaster. Each item must be specifically listed and valued in the policy.
Popular Insurance Terms
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Cost of replacing damaged or destroyed property with comparable new property, minus depreciation and obsolescence. For example, a 10-year-old living room sofa will not be replaced at ...
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