HDFC ERGO Art Insurance Policy

Art Insurance Policy

Fine art, Antique Furniture, Musical Instruments, Statues and sculptures and other important collectibles are increasingly viewed as an asset.

Our insurance cover is designed to meet the needs of Corporate Collector, Individual Collector, Fine Art Dealers, Museums, Antique Dealers and Art Exhibitions. Policy provides comprehensive protection to the insured property including insured property while in transit within India.

Coverage includes any unforeseen and sudden physical loss or damage from any cause, other than those specifically excluded This Policy also covers all Insured property whilst in transit on “wall to wall” basis whilst on premises on display including storage within the territorial limits mentioned in the schedule for the purpose of business or profession.

Art Insurance Policy is subject to below inbuilt coverage’s

  • New Acquisitions Clause- Up to 25% subject to maximum of Rs 50 lakhs
  • Sue and labour Clause – Upto 10% claim amount
  • Debris Removal Clause – Upto 10% claim amount

For additional premium, the policy can be extended to cover.

  • Defective Title
  • Automatic reinstatement
  • Replacement of Keys and Locks
  • Temporary Storage Costs
  • Exhibitions Coverage

Fair Market Value to be agreed by Insured and us; duly supported with a valuation certificate from a professional valuer

Premium will depend upon :

  • Sum Insured
  • Type of Fine art, Antique Furniture, Musical Instruments, Statues and sculptures
  • Security measures available at the premises
  • Coverage
  • Geographical Limit
  • Type of collector

As may be indicated in the policy schedule

This Policy does not cover:

  • Loss from unattended vehicles
  • Inventory losses
  • Loss or damage at any Exhibition, unless specifically notified to and agreed by the company in advance
  • Wear and tear, gradual deterioration, inherent vice/ defect, rust or oxidation, moth or vermin, warping or shrinkage
  • Mechanical or electrical faults or breakdown
  • Damage during repairing, restoring, retouching, or any similar process
  • Aridity, humidity, exposure to light or extremes of temperature, unless such loss or damage is caused by storm, frost or fire
  • Willful act of insured and its representative working in collusion with the insured
  • Consequential loss of any kind
  • Mysterious disappearance or unexplained loss
  • Biological or chemical contamination caused by or resulting from an act of terrorism.
  • Nuclear reaction, nuclear radiation or radioactive contamination.
  • War, invasion and allied peril
  • Damages following government action