4 Pillars of Good Stewardship for Art & Instruments

4 Pillars of Good Stewardship for Art & Instruments

4 Pillars of Good Stewardship for Art & Instruments
Those of us privileged with owning fine art and instruments have a responsibility to protect them for future generations.

These good practices will help protect your art and instruments, your bank balance, and – to some extent – your legacy… 

1. Valuation: changing trends in the art, antiques and jewellery markets mean that the replacement value is constantly shifting - and premiums may need adjustment (up or down).  If you’re not aware of the value of your assets (or if it’s not documented), you could find yourself significantly under-insured.  After the trauma of a theft, the last thing you need is the worry of a difficult negotiation over the value of each piece.   Regular valuation, inventory appraisal and photographic records will all help.

2. Security: better protection can mean lower premiums; insurers recognise the extra care taken.  If your jewellery collection is valued over £15,000, consider installing a home-safe (and for collections over £30,000, a second safe connected to the alarm system).  We can advise on security marking, and anti-intruder installations that won’t compromise the integrity of your home. 

3. Insurance: make sure you have a personalised policy fine-tuned for your specific needs and lifestyle. These need not be prohibitively expensive; indeed fine art and instruments normally cost less to insure than standard contents - especially if you have evidence of taking extra steps to protect your belongings. If you’re still buying ‘standard’ homeowners’ policies, you might be in for some surprises when you make a claim - read our 5 good reasons art & instrument collectors need specialist insurance.

4. Documentation: it’s important to keep safely:

  • Appraisals/valuations
  • Historical records
  • Insurance paperwork
  • Repair paperwork

This can really help with claim resolutions and the repair or replacement process. 

Talk to one of the La Playa team for guidance and a no-obligation review of your insurance needs.

T: 020 7002 1544

Portfolio_Policies_red_car_gold_jet_2.jpg

“Second to none... thank you.”

Sue H

 

Ready to work with us?

You can call us to talk more about your insurance on +44 (0)1223 200650 or +44 (0)20 3865 0149

What's Covered?

Monthly Payments
Cancel Anytime
Benchmark Us
Quote within 24 hrs

About La Playa Private Client

Specialist & Independent

Specialist & Independent

La Playa Private Client creates a safe space for you to live life to the full, enjoying your family, friends, and assets wherever you are in the world - without worry or hassle.

We can make sense of all your insurance needs - property, yachts and superyachts, high-performance and classic cars, private jets, art, wine and jewellery collections – and your liabilities too. We can pull multiple assets together on a single “portfolio” policy – or if you prefer, take care of each item separately. 

Amid the impersonal and automated world of large insurance corporations, La Playa provides a refreshingly boutique-style service, with individual advice, and cover based on in-depth understanding of your specific situation. After a detailed and confidential review of your needs and priorities, we’ll structure your insurance arrangements so you know you and your family are protected, come what may.  

In-house Wealth Management

We also offer Investments & Pensions and Financial Planning: a joined up approach with a team of advisers working for your best financial interests - all under one roof.

Advice you can trust

…from an expert who understands you

  • Specialist, global policies for affluent lifestyles
  • Independent, specialist advice
  • Boutique–style, luxury service
  • “Can do” culture
  • Worldwide capability: offices in London & New York
Photo from Private Client
MTW-155-col.jpg

Mike Taylor-West ACII

DIRECTOR, PRIVATE CLIENT AND MARINE

Direct Dial: +44 (0) 203 290 1774

Mobile: +44 (0) 7500 109737

Email: mike.taylorwest@laplayainsurance.com

Twitter: @MTWLaPlaya