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 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.
Any fortuitous accident except policy exclusions
Indemnity set at a pre-agreed appraised value — minimizes disputes
One wording covers storage, exhibition and domestic/international transit
Seamless cover from origin to destination
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.
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.
30 represented artists × avg. ₩500m = ₩15bn collection. Year-round operation + 3–4 external exhibition shipments. Integrated On Custody + In Transit + On Exhibit.
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.
Korean gallery → Art Basel Hong Kong. Air transit + 1-week exhibition + return. 12 works, total appraised ₩8bn. Single certificate integrating all 7 conditions.
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.
| 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 |
Please prepare the following. You can send them via cargoinsu.com's consultation channels; a business registration certificate is required for new policyholders.
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.
Fine Art Insurance · comparison quote
We design Agreed-Value All Risks cover across storage, exhibition and transit, matched to single works or a whole collection.
Coverage, exclusions and limits are governed by each insurer's wording, and the final premium is confirmed after the insurer's underwriting review. Our fee is paid by the insurer, so there is no extra cost to you (Article 98 of the Insurance Business Act).
