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Fine Art Insurance is a property coverage for direct physical loss or damage that occurs to fine art and collectible objects, including but not limited to paintings, drawings, sculptures, photographs, tapestries, rare books and manuscripts. The insurance covers OSU fine art while in a permanent location, as well as in storage, transit or while loaned to others. The insurance can also extend to fine art of others on loan to OSU, when required by an agreement. Please contact OSU Contract Services for the appropriate agreement for art of others on loan to OSU.
To learn more about the Fine Art insurance coverage, exclusions, claims and deductibles, as well as how to protect fine art while on display, in storage and in transit, please expand on the information below.
If evidence of insurance is needed for fine art, please see the Certificates of Insurance webpage.
The policy covers fine art and collectible objects on a "wall to wall" basis that are:
For OSU property, fine art insurance is valued at the higher of the price paid for the Property or the current market value of the property at the time any loss or damage occurs.
The policy does not insure against loss or damage caused by:
The policy has a sublimit for loss or damage to or resulting from any repairing, restoration, or retouching process.
The policy does not provide coverage for personal property of employees or students.
If direct physical loss or damage occurs, please contact Insurance and Risk Management Services as soon as possible to initiate a claim. It is very important to take pictures of the damaged art or objects, including any packaging. Claims will be paid in accordance with the terms and conditions of the policy.
There is a $1,000 deductible per occurrence, which will be accessed to the unit/department.
Maintenance and Protection Recommendations
Packing and Securing Property
|It is a condition of the insurance policy that the University will take all reasonable steps to ensure that property insured under the policy will be packed by competent packers and in such a manner as to withstand the normal hazards associated with transit or storage.
|It is recommended that employees use University vehicles if transporting fine art, or a third party vendor experienced in art transport.