Every work carries real value, so even a small scratch in transit is a worry. Fine art insurance for museums, galleries, auction houses and private collectors covers the whole span of exhibition, storage and transit on an Agreed-Value All Risks basis. A single work or an entire collection — compare quotes from 6 insurers at once.
Fine Art Insurance
Overview
Fine art insurance covers paintings, sculpture, ceramics, antiques, digital art and other works on an All-Risks basis against fortuitous loss throughout storage, exhibition, transit and loan.
Cover can be taken per work or per collection, with indemnity on an Agreed Value basis as standard, using Chubb's dedicated Fine Art underwriting team and global claims network.
Key features
01
All-Risks cover
Any fortuitous accident except policy exclusions
02
Agreed Value indemnity
Indemnity set at a pre-agreed appraised value — minimizes disputes
03
Storage + exhibition + transit
One wording covers storage, exhibition and domestic/international transit
04
Wall to Wall transit
Seamless cover from origin to destination
7 cover conditions — integrated in one wording
Fine art cover is taken by selecting and combining the following 7 conditions in a single wording. Galleries, dealers, auction houses and museums can choose only the conditions they need.
Code
Name
Meaning / scope
01
In Transit
In transit — impact, dropping, theft or traffic-accident loss when moving between studio, gallery, auction house and collector
02
On Exhibit
On exhibit — visitor contact, fixture collision, fire or theft during a gallery/museum/art-fair exhibition
03
On Custody
In custody — storage risks (fire, flood, theft, etc.) in a gallery vault, rented store or studio
04
Removal
Removal — moving works within the same building or to a nearby facility (display changes, vault reorganization)
05
Packing
Packing — loss during packing for transit or exhibition
06
Setting
Setting — fall or contact loss during installation at a venue or collector site
07
Unpacking
Unpacking — loss while unpacking at the destination
※ Wall to Wall cover: combining the 7 conditions gives uninterrupted cover from the artist's studio to the collector's destination.
Adding a Waiver of Subrogation option waives recovery against carriers and venues in advance, preserving working relationships.
Main losses covered
Fire, theft, breakage, flooding or damage in storage
Impact, dropping or theft in domestic/international transit
Visitor or fixture contact damage on exhibit
Damage during packing, setting or unpacking
Restoration / reworking costs
Pair & Set loss (depreciation of remaining pieces when one of a pair/set is damaged)
Agreed Value basis — indemnity at a pre-agreed appraised value
Risk-assessment checklist (underwriting items)
Insurers (Chubb · AIG · DB) assess the following at application to decide acceptance and rating. The more your operating environment meets these, the lower the premium.
01
Building structureRC > steel > brick > timber, in that order of favorability
02
Fire protectionsprinklers, extinguishers, smoke detectors
03
Intruder alarmaccess control, motion sensing, security-firm link
04
24-hour guardingon-site guard or security-firm response contract
05
CCTVblind-spot-free recording of hall, vault, entrances
06
Specialist carrieruse of a fine-art carrier (lowers the rate)
07
Air-ride vehicleair-ride / climate-controlled vehicle for high-value works
08
Guide railsvisitor flow separation to prevent contact
09
Acrylic casesproportion of works in glazed/acrylic cases
30 represented artists × avg. ₩500m = ₩15bn collection. Year-round operation + 3–4 external exhibition shipments. Integrated On Custody + In Transit + On Exhibit.
Scenario B
Short-term art-fair exhibition
5-day KIAF exhibition + round-trip transit. ₩5bn of works. Two-week short-period cover on a pro-rata premium; rate reduced when using air-ride vehicles and acrylic cases.
Scenario C
Overseas exhibition (Wall to Wall)
Korean gallery → Art Basel Hong Kong. Air transit + 1-week exhibition + return. 12 works, total appraised ₩8bn. Single certificate integrating all 7 conditions.
Scenario D
Auction-house transit & custody
Consigned storage of lots + pre-sale exhibition + post-sale delivery to the buyer. A structure where the consignor/buyer automatically becomes the insured across On Custody + On Exhibit + In Transit.
Main exclusions
Inherent defect, material ageing or mould of the work itself
Gradual damage from unsuitable climate/temperature/humidity storage
Authenticity disputes
War, civil war, nuclear risk
Wilful misconduct or gross negligence
Conditions
Period
1-year renewable / short-period (exhibition) available
Payment
Single
Main insurers
Chubb (dedicated Fine Art) · AIG · DB
Turnaround
5–10 business days after review of appraised values
Documents required to apply
Please prepare the following. You can send them via cargoinsu.com's consultation channels; a business registration certificate is required for new policyholders.
1
Business registration certificaterequired for new contracts
2
Schedule of worksartist, title, year, medium, size, appraised value
3
Appraisalor auction hammer price / transaction record
4
Exhibition/storage addressdomestic/overseas, exact street address
5
Transit plansea/air, one-way/round, carrier
6
Security/fire informationphotos of CCTV, guarding, fire systems
7
Periodannual renewal or short-period (exhibition)
8
Special requestsfree text for any specifics
When you need fine art insurance
Situations we see often — a quick self-check by scenario
🖼️
Galleries / art dealers storing and exhibiting works
Covers storage, exhibition and transit under a single wording.
🏛️
Museums' collections and special exhibitions
Covers the collection and loaned works on an agreed-value basis.
🚚
Transporting works (domestic / international, Wall to Wall)
Covers seamless transit from origin to destination.
🎨
Private collectors' high-value art
Covers fortuitous loss to privately held high-value works.
3 things easily missed when buying fine art insurance
The wording and structure points most often overlooked
1
Agreed Value — the pre-agreed valuation basis
Cover pays on the pre-agreed value, so keep your valuation evidence.
2
Pair & Set — partial damage to a set
Check whether loss of value to a whole set from damage to one piece is covered.
3
Whether exhibition / storage / transit are combined
Select every leg you need, matched to how you operate.
Frequently asked questions
The items checked most before buying
What is Agreed Value?
It is a valuation of the work agreed with the insurer up front. It is set from appraisals, sale prices, certificates and the like, and reduces the scope for disputes over value at claim time. The sum insured and premium are confirmed after the insurer's underwriting review.
Can I insure for the exhibition period only?
Yes. Art fairs and special exhibitions can be insured for the exhibition period only (e.g. 2 weeks–3 months) on a pro-rata basis. Cover follows the wording and acceptance terms.
What does ‘Wall to Wall’ cover?
It covers transit, temporary storage, unpacking and installation from origin to destination under one policy without a break, reducing gaps between legs.
If the carrier has liability insurance, do I still need this?
A carrier's liability is often capped and excluded below the work's value, and the burden of proof falls on the cargo owner. It is usual to hold separate fine art insurance from the owner's standpoint.
Guides worth reading together
Lines that combine with or complement fine art insurance
When applying, confirm the basics of the contract — product name, period of insurance, premium payment term and the insured — and be sure to receive and read the policy wording and product brochure.
Coverage exclusions are set out in each insurer's policy wording and brochure; refer to them for details, as claims may be limited by exclusions or payment-limitation grounds.
If the insured event has already occurred when the contract is concluded, the contract is void.
Duty of disclosure: the policyholder, the insured or their agent must answer the application/questionnaire truthfully; otherwise a claim may be declined or the contract cancelled.
Cooling-off: a policyholder may generally withdraw the application within 15 days of receiving the certificate; note that commercial (corporate) insurance taken out by a professional financial consumer cannot be withdrawn.
Providing special benefits in connection with an insurance contract is punishable under the Insurance Business Act.
N2N Insurance Brokerage is a broker registered under Article 89 of the Insurance Business Act; it does not represent any single insurer and advises on the client's side (FSS Reg. No. 2026-012201 · Business Reg. No. 611-23-02374). Application and acceptance follow each insurer's wording.
Full Korean statutory disclosures — depositor protection, tax treatment, signature requirements, the insurance-fraud reporting center and dispute resolution — are provided on the Korean version of this page.
📌 Only marine cargo is quoted instantly on this site.
Transit, fine art and liability lines need asset valuation and underwriting, so they are not auto-quoted here.
When you request a consultation we provide a free simultaneous comparison across 6 insurers (avg. reply within 24 hours during business hours).
