Art Gallery Insurance

In the realm of art insurance, your choice of broker is pivotal. While larger multinational firms have their merits, discover why selecting a small, specialised broker like Hallett Independent can redefine your insurance experience.
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1.  Approach To Claims: Say goodbye to bureaucracy. Our in-house team, dedicated to your claims, navigates negotiations with precision and fights for your interests. As an independent entity, we prioritise your needs without external pressures.
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2. Specialisation In Art Insurance: Hallett Independent focuses exclusively on art insurance, bringing a depth of understanding to the unique risks and requirements of the art world. Your art deserves specialised attention, and that’s exactly what you get.

3.  Personalised Service: Ever felt like just another number in a big system? With Hallett, it’s personal. Our boutique status ensures a level of personalised service that larger firms often struggle to match. Direct access to decision-makers means your needs are heard and addressed promptly.

4.  Flexibility And Customisation: Your art insurance requirements will be unique, and so should be your insurance. Hallett Independent offers flexibility and customisation that may be hard to find in more standardised, one-size-fits-all approaches.
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5.  In-Depth Industry Knowledge: Navigating the art world’s complexities requires expertise. Hallett Independent’s in-depth knowledge of the art industry ensures that they understand the nuances of valuation, market fluctuations, and other unique challenges. Expertise that translates to tailored solutions for you.
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5.  Quick Decision-Making: In the fast-paced art world, time matters. Hallett Independent’s streamlined decision-making process allows for quick responses to your needs, efficient claims handling, and a level of agility that larger firms may struggle to match.
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6. Client-Centric Approach: At Hallett, clients aren’t just clients; they’re partners. The client-centric approach means a commitment to your satisfaction and going the extra mile to meet your expectations. Because your peace of mind matters.
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7.  Local Expertise: Art is a global language, but understanding local nuances is key. Hallett Independent’s local expertise provides an advantage in navigating the intricacies of the art market, ensuring you have the right support on a global scale.
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Choosing an art insurance broker is an investment in the protection and longevity of your art. Consider the boutique advantage with Hallett Independent Specialist Art Insurance Brokers. Your art deserves more than just coverage—it deserves the expertise and personalised service that sets Hallett apart.
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Ready to safeguard your assets? Reach out to Hallett Independent for a consultation tailored to your insurance needs.

The proof of any insurance is its response to a claim, and we only arrange insurances that can be relied upon to pay.

We work with underwriters who understand the nature of what they are insuring, the particular risks, and how to make good in the event of a loss.

For our part, we oversee all claims from start to finish, using our considerable experience and contacts to achieve the best possible claim settlements.We are proud of our ability to settle the most complex claims for fine art, especially those involving damage, restoration and subsequent loss of value.

We are equally well equipped to help in the aftermath of a fire or flood, from arranging appropriate disaster recovery, to negotiating the right form of settlement.  The majority of claims are, however, straightforward, and we aim to settle  quickly and cleanly.

Art gallery insurance policies can vary in coverage and it’s essential to review the specific needs and requirements of the gallery to ensure adequate protection.

Some common coverages offered by art gallery insurance policies include:
1.     Public and Employer’s Liability Insurance: Employer’s liability is a legal requirement in the UK and provides cover for your employees if they are injured at work and you are found to negligent.  Public liability coverage protects against third-party bodily injury or property damage claims arising from gallery operations, events, or activities.
2.     Stock and property Insurance: This coverage protects against all risks of physical loss or damage to artwork, gallery premises, fixtures and other property due to risks such as fire, theft, water damage, vandalism or accidental damage.  Depreciation is also included.
3.     Artwork on consignment coverage: This coverage protects consigned or borrowed works in the gallery’s care against all risks of physical loss or damage (same cover as in point 2).
4.     Business Interruption Insurance: This coverage can provide reimbursement for lost profits and temporary relocation costs if the gallery is forced to close temporarily due to a covered physical loss – such as a fire or flood.
5.     Transit and art fair insurance.  All risks cover for stock whist in transit or at art fairs worldwide.  Transits must be carried out by professional fine art shippers.

Additional covers available NOT included as standard:

1.     Professional Indemnity & Directors’ and/or Trustees Liabilities: These insurances provide cover for claims arising from errors, omissions, or negligence in providing professional services related to artworks.
2.     Personal Accident and Travel Insurance.  Personal accident and travel insurance is designed to address the financial effects of employees being unable to work because they have been injured, and to provide support to employees on business trips.  It can provide cover for emergency medical expenses, delays or cancellations and lost baggage and financial compensation as a result of injury or illness.
3.     Cyber & Data Insurance.  This insurance provides cover for your financial losses as a result of a data breach, threat or security failure.  Insurers also offer advice on cyber security and provide staff training.

Art galleries are unique businesses that require specialised insurance coverage to protect against the risks associated with owning and operating a gallery. Some of the key reasons why art galleries need insurance include:

1.     Liability protection: Art galleries are exposed to potential liability risks, such as accidents or injuries that may occur on the gallery premises. Liability insurance can provide coverage for legal defence costs, settlements, or judgments arising from such claims.
2.     Property coverage: Art galleries often have valuable artwork on display or in storage, and protecting these assets against risks such as fire, theft, or damage is crucial. Property insurance can provide coverage for the physical loss or damage to artwork, gallery premises, fixtures, and other property.
3.     Business Interruption coverage: If an unexpected event, such as a fire or flood, forces an art gallery to temporarily close its doors, it can result in financial loss. Business interruption insurance can provide coverage for lost profit and temporary relocation costs during the period of closure.
4.     Coverage for artwork on consignment: Many art galleries sell artwork on consignment, which means they are responsible for safeguarding the artwork of artists they represent as detailed in a contract. Art gallery insurance can provide coverage for consigned artwork against risks such as theft, damage, or loss whilst in the gallery’s care.
5.     Professional Indemnity Coverage: Art galleries often provide services or advice such as appraisals, conservation advice or restoration of artwork, which can expose them to potential professional liability risks. Professional Indemnity insurance can provide coverage for errors, omissions, or negligence in providing professional advice or services.
6.     Art Fair insurance: If an art gallery participates in trade shows, additional coverage may be needed to protect against risks such as theft, damage, or liability during these activities.
7.     A data breach or cyber event can halt your business by preventing access to crucial systems or obtaining confidential data. Cyber insurance provides financial assistance for breach costs, cyber ransom, civil penalties as a result of GDPR and data recovery costs.