Picture framing insurance

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Gemmie123
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Location: Scotland
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Interests: Framing Art

Picture framing insurance

Post by Gemmie123 » Fri 18 Nov, 2022 1:58 pm

Hi any recommendations for simple insurance ?

I’ve been doing for myself and friends but I am starting to get more and more jobs so feel like need insurance to cover if something happened to the artwork whilst it is with me for framing.
Any recommendations or specifics on what is required would be much appreciated
Thanks in advance

fitz
Posts: 149
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Location: Dunning
Organisation: Latch Burn Framing
Interests: Picture Framing. Watercolour painting, dog walking, fly fishing.

Re: Picture framing insurance

Post by fitz » Sun 20 Nov, 2022 11:43 pm

Hi. I found that Hiscox provides the best cover for me and will cover goods in trust unlike many others.

Justintime
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Location: West Wales
Organisation: George The Framer LLP
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Re: Picture framing insurance

Post by Justintime » Mon 21 Nov, 2022 3:54 pm

Hiscox here too. I would recommend asking Besso (https://www.besso.co.uk/web/product-por ... rt-framing) for a copy of their summary of cover to see what they can offer. I found them expensive, even with an FATG discount. If you don't decide to go with them, you'll have details of the various categories required and be able to build your own policy with Hiscox etc.
The main categories are:
Contents - premises, stock, goods entrusted, fixtures, fittings furniture etc
Business Interruption
Money
Public/Products Liability
Employers Liability
Personal accident
Defective Title
Fidelity - misappropriation by employees
Buildings
Rent
Glass - shop fronts etc
Cheques/Credit cards - forged/stolen
Process Cover - accidental loss or damage of stock & entrustments (customers work)
Legal Expenses.
Obviously not all will apply to your business model, but you can build your own policy to suit yours. Just make sure not to undervalue anything (eg machinery costs should be replacement cost) otherwise what's the point..
Justin George GCF(APF)
Insta: georgetheframer

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pramsay13
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Location: Lanarkshire
Organisation: Picture Framer (ML)
Interests: picture framing (no, really!) sport, music
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Re: Picture framing insurance

Post by pramsay13 » Mon 21 Nov, 2022 6:13 pm

Hiscox for me too.
The main issue for me was finding someone who would cover goods in trust, so other people's belongings while I had them in to be framed.

Gemmie123
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Location: Scotland
Organisation: N/a
Interests: Framing Art

Re: Picture framing insurance

Post by Gemmie123 » Wed 23 Nov, 2022 10:31 am

Thanks soo much for these responses ! I decided to go with Hiscox cause I couldn’t clearly see from the others if they were covering artwork in my care as I frame it 🤦‍♀️
Thank you again 😊

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prospero
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Location: Lincolnshire

Re: Picture framing insurance

Post by prospero » Wed 30 Nov, 2022 4:38 am

I'm with NFU. I have a policy that covers the actual building as well as equipment/stock. Also Public Liability.

One thing to pay attention to: I carry a basic level of cover for "Items Held in trust", e.g. Customer's work kept
on the premises. Do ensure you can prove the value of such stuff. They will not pay out based on what the customer
thinks it worth. A friend of mine had a painting in his window which was done by himself. Priced £75. Some kind soul
broke his window and destroyed the painting. The window was covered but the assessor only valued the painting based
on replacement of the canvas and paint. :? You can see their point. You could price any painting at £75,000 and break the
window yourself. A point to consider...

If you pick the bones out of a policy there are actually quite few 'pay-out' situations. If the damage is caused by you own
negligence then they will not pay out. If you for instance spilled a cup of coffee over customer's item or the dog chewed it
then they are not going to pay out. Even if the place burnt down they would do their best to prove it was your fault.
Robbery? Same thing.

If I have a particularly valuable piece in the shop that exceeds your basic cover amount the my policy allows you to
increase the cover temporarily. I can pick up the phone and arrange an extra £20,000 or whatever for a week or two.

** I often think that if you just had basic cover required by law and payed the saved premiums in a 'disaster account'
you would probably be ahead of the game. If nothing happened you would have a nice little nest-egg. In 40 years I have
never had to make a claim. :lol:
Watch Out. There's A Humphrey About

Justintime
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Re: Picture framing insurance

Post by Justintime » Wed 30 Nov, 2022 8:31 am

That was my issue with NFU (as well as them being politically very right wing), that they raised my cover to £25,000 but then advised that they would only do this once, rather thn what the sales agent had agreed.
Hiscox will provide "process cover", touch wood I will never need it...
Justin George GCF(APF)
Insta: georgetheframer

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