business insurance in college station texas


The way your building looks both inside and outside gives an important first impression to customers and clients who visit it. If your building is decorated with attractive items and furnishings, you may need additional business insurance to cover them.

Items considered to be fine art pieces are not typically protected with a standard commercial policy sold by business insurance services. To ensure your expensive decorations are covered against breakage or loss, you need business owners insurance with fine arts coverage added.

What Are Fine Art Pieces?

For business insurance purposes, fine art is considered to be decorations, collectibles, and works of art of significant value. These things may include oriental rugs, tapestries, statues, paintings, drawings and sketchings, marble, porcelain, bronze, and other works of art with a high value.

What Does A Standard Policy Cover?

Standard business owners insurance policies protect business property up to the limitations set forth in the policy. These limitations are generally not high enough to cover valuable items that could be worth many times what the policy will pay. This can be even further complicated by the fact that regardless of whether a policy is written for cash value or replacement value, determining the actual value of some fine art items can be challenging. Some items may not even be replaceable.

Considering these factors, a typical business policy sold by business insurance services excludes damage to or loss of works of art and rare or antique items. Policies that may have higher property value limitations usually have exclusions for damage caused by:  extreme temperature changes; water or moisture; incorrect humidity levels, animals; fungi; and other perils that commonly affect antiques and works of art.

Keeping Your Fine Art Protected

To ensure that your fine art pieces are properly protected, it is recommended that separate fine art coverage be purchased in addition to standard business insurance. Another option is to add an extended coverage endorsement or floater to your current business owners insurance policy if such an endorsement is available.

Besides covering fine art pieces that a regular policy excludes, specialty coverage offers other important benefits. Fine art coverage sold by business insurance services usually covers a peril that is not specifically exclued.and protects against most perils. Common exclusions under fine arts coverage include: any type of act of war; wear and  tear; principal or employee dishonesty about the object; and breakage of the fragile items. You may be able to add earthquake or flood coverage separately.

Fine art supplemental policies or floaters provide coverage based on an agreed-upon value. In the event of a loss, reimbursement will be calculated based on the value stated in the policy so there is no conflict. The easiest way to determine an agreed value is to have the items appraised by an approved appraiser, then submitting this information to your insurance company. To further protect your investment, items should be insured for repair or replacement cost only.

If your business decor includes expensive or irreplaceable works of art, be sure to protect these pieces with the right business insurance policy. Never assume a standard business owners insurance policy will cover these valuable items. Most business insurance services will have the fine arts floater or supplemental policy you need to keep your valuable fine art pieces protected!

Need Business Insurance In College Station Texas?

Jones & Associates Can Write Just What You Need!

Call (979) 599-7532!