Can I File an Insurance Claim for Stolen or Damaged Art?
If you experience a damaging natural disaster or a burglary, your valuable art pieces are unlikely to remain unscathed. In the event that you’re fine art is damaged, lost, or stolen, it may be possible to obtain compensation through your insurance company. Certain insurance policies do cover art, antiques, and other collectibles in case something should happen. If your valuable art was somehow broken or lost, make sure you know what to do.
Artists and collectors alike should have policies to protect their pieces and collections, especially if the art is kept at home. At a private residence, art can be susceptible to theft, fire damage, flood damage, storm damage, water damage, and various other types of loss. Fine art can be extremely valuable, both financially and emotionally. If you are the artist, these pieces are your livelihood and any loss can be a significant one. For these reasons, it is best that you make sure you understand how your art investments are insured.
Most homeowner policies do cover the loss of artwork, though sometimes there are exceptions. Review your policy to make sure your possessions are insured, or adjust your policy accordingly to make sure you are covered.
If your insurance company wrongfully denied or underpaid your claim for damaged or lost art, you may be within your rights to take further action. Our experienced attorneys at The Morgan Law Group, P.A. can work with you to determine whether or not your damaged property should have been covered under your insurance policy. We can review your policy and investigate the circumstances of the damage or theft in order to prove the validity of your claim. Or, under certain circumstances, we can help you take legal action against your insurance company for a wrongfully denied, delayed, or underpaid claim.