Your browser version is outdated. We recommend that you update your browser to the latest version.

Frequently Asked Questions

Building a fine art & jewellery collection involves many decisions and requires careful balancing of your personal tastes, lifestyle and financial investments. However, not all collectors will take the same care in selecting the right insurance for their pieces of art and jewellery.


Surprisingly, many collectors insure their art & jewellery under a basic, low-cost homeowner's policy. What most people don't realize though is that such policies rarely cover the full value. So if they do suffer a loss, they may find that they receive less for the damaged item than what it is really worth and find there is little scope for flexiblility when dealing with the claim.


What kind of art & jewellery do you insure?

We insure any item which is normally be traded at an art auction house or by an antique dealer or an art gallery.  Painting, Sculpture, Wine, musical instruments, coins, medals rare books and natural history collections are all included. Please refer to Image Gallery for art we often insure.


Do you apply deductible to art & jewellery insurance?

We don't apply deductible for individual collectors' policies. But we do a small deductible for commerical art & jewellery dealers, in order to minimize trival amount of claims.


What is art & jewellery insurance premium?

Depending on your security and protection, your art medium, and your claim experience, the average annual premium is from 0.05% to 0.5% of your art collection and from 1% to 2% of your jewellery collections subject to minimum SGD500 plus 7%GST per annum.


Do you insure art & jewellery on cost value or market value?

We can insure either cost or market value. Once we agree on value, we write in agreed value of each piece into your policy. 


How do you determine market value?

We use the latest sales transaction of reputable art auction houses and galleries as a benchmark to value your collections.


What does art & jewellery insurance policy cover?

The policy is on all risks worldwide cover basis, which includes accidental and external damages such as fire, water, theft, and robbery. 


What does art insurance policy not cover?

The policy does not cover wear and Tear, inherent defect and breakdown, gradual deterioration, loss by insects or vermin, damage by atmospheric conditions, confiscation and war, radioactive contamination. 


What if there is a loss or damage?

Please contact us immediately and take photos of damage. We will visit you within 24 hours.


What is the Claim Settlement?

If it is total damage beyond of repair, Insurer pays you the amount you've insured, you surrender the property to the Insurer. If it is partial damage repairable, the Insurer pays you the restoration expense and the difference in value, if any, after the restoration.


Why is Charles Art / Insurance?

We specialise in art & jewellery insurance and provide you impartial & personal services from quote to claim. The services are tailored to your specific needs. If you have good security, protection and nil insurance claim record, we can offer you very competitive insurance rates. Even if your record isn't perfect, we still offer good rates.