Works of art
COVERED
Whether your home rivals some of the world’s finest galleries, or you simply have a few items that bring you joy, you want to ensure they’re covered for loss or damage. Here is some more information about what kind of coverage you potentially have for works of art.
What policy covers works of art
What’s covered
We cover works of art, including paintings, pictures, antiques, sculptures, ornaments and art objects. We have flexible limits on these items. You are able to choose to increase this limit for an extra premium.
When you do this they become ‘Specified contents items’ and are shown on your certificate of insurance. The most we will pay for any one incident for a specified contents item will be the amount shown on your certificate of insurance.
Note that for a claim on an item over $3,000, we will ask for proof of purchase, a professional valuation and a photograph.
What’s not covered
There are some instances where you will not be covered for any loss or damage. Such as, items cannot or will not be replaced ‘new for old’.
‘New for old’ means that if the item cannot be replaced ‘new for old’ or repaired, we will pay you what it would have cost to buy the item immediately before the loss or damage occurred, subject to the limits in your policy. We may engage an expert to help determine this.
You can learn more about this coverage and the exclusions or limitations in the Product Disclosure Statement.