Find out the answers to your questions.
Question: When I discover my artwork has been stolen, who is the first person that I call? (police, insurance, art loss agency?)
Answer: The insured should contact the police immediately when a covered work is stolen , the quicker police response may yield important information . The agent should be notified right after the police have been summoned.
Question: What is the most common way art is stolen from private collections?
Answer: Burglary is the most common theft of artwork, proper security is essential to prevent this type of crime . Additionally , we have found that contractors or vendors working at the residence have come under scrutiny as possible perpetrators .
Question: Will my insurance agency report the art to the art loss agencies and the FBI, or is that my responsibility?
Answer: The insurance carrier will work with the FBI to recover the work , the insured may be asked to assist with the investigation .
Question: What is the likelihood I will get my art back, how does that process work?
Answer: Unfortunately less than 10% of stolen art is recovered , this underscores the need for proper security.
Question: If I have no art insurance, and something is stolen, what are my options?
Answer: You will need to work with law enforcement to recover the work , if there is no insurance in place there are no good options for recovery.
Question: What are my reimbursements options if I have a current policy?
Answer: You can recover the amount of loss either with an agreed value policy or current market value . The options should be discussed with the broker.
Question: What red flags do I need to look out for when making a claim with my insurance company?
Answer: As long as the conditions of the policy are met and the application form is accurate there should be no red flags.
Question: How can I prevent against art theft?
Answer: There are numerous security measures to be taken Valuable assets in home and facilities may be protected by a general perimeter or motion based security system . Home and building alarms have become very sophisticated as have closed circuit surveillance equipment.