I’m lending a painting to a museum. Is it covered under my personal policy?
Lending a work to a museum or institution is a meaningful gesture – and one that comes with important logistics that are easy to overlook.
Many personal art policies either exclude works on loan entirely or require advance written notice to your carrier before the loan begins. Before any work leaves your home, confirm coverage with your broker AND request a certificate of insurance from the borrowing institution. Reputable museums carry their own fire art coverage and should be able to provide this readily.
You’ll also need a current appraisal on file – the museum will require it for their records and your insurer will too.
We assist collectors with loan-related documentation regularly. Don’t let an exciting opportunity become a coverage gap.
Questions before a loan agreement is signed? Reach us at inquiries@veritasartappraisals.com or (312) 252-9772.
