4 June 2024 • iTOO
Long-lost masterpiece almost selling for a song should be a wake-up call for art owners
Bosch says that people who come into possession of artworks should have an up-to-date value of their assets because not...
Why get art insurance with iTOO?
Because our business has been built by collectors, we’re the only insurance provider in Africa that understands the value of art and collectables as much as you do. Because of this, we share the same passion and understanding for the art world, reflected in our highly specialised policies.
By combining our passion and expertise in art-related assets and insurance – together with our excellent global networks in both – you’re in the hands of an expert to help protect your art and collectables that represent years of value.
Our comprehensive offer
What's included?
Our specialists offer first-to-market art insurance cover that’s uniquely tailored to art collectors and the commercial entities that service them.
R6m Paid out in art theft claims by iTOO Artinsure in 2021
Clever insurance for clever people
Our service comes from a love of what we cover.
How to get cover
Ask your insurance broker to contact us for a quote for your specialist art insurance cover. Don’t have a broker and want us to recommend possible FAIS registered brokers trained in our products? Find a broker or contact one of our experts.
How to claim
Simply contact your broker as soon as possible as this could make all the difference in the chances of recovering stolen works or restoring water damage before it becomes permanent. If a loss has occurred, or an event which may lead to a claim has taken place, please complete the Claim Notification form as soon as possible.
Frequently asked questions
Do we have to deal with you through a broker?
In order to comply with regulatory requirements you need to deal with us through a FAIS accredited insurance broker. If you do not have a broker we can introduce you to a local one competent in our products.
Why do artworks, collectables and valuables need to be separately insured?
It is likely that standard asset insurance policies are not sufficient to respond adequately to appreciating assets such as art, collectables and valuables collections if lost, stolen or damaged. Works of art, collectables and valuables are unique and therefore irreplaceable. Even where professional restoration is possible, damage to any item may devalue it. By taking advantage of Artinsure’s specialised products, collectors can ensure that their financial interests in their appreciating assets are fully protected.
How do you get valuations for artworks, collectables and valuables?
Although we don’t value the works ourselves, we have a panel of independent appraisers covering a comprehensive and extensive range of collectables. The valuer charges a separate fee which is for the client’s own account.
Is there a minimum sum insured?
No, but we do apply minimum premiums.
What commissions and fees are there?
All premiums quoted contain a 20% commission payable to the broker with the exception of Classic Cars which is a 12.5% commission. We do not charge fees in addition. Brokers with whom we deal may charge additional fees which must be disclosed to you.
What do we do if the client has a claim?
Our claims process is our expertise. Let us know as soon as possible (the earlier the better to minimise loss) and we will manage the process with the key aim of making this a smooth process that returns your client to the same financial position they were in prior to the claim.
iTOO Insights
20 August 2024 • Sizakele Themba
iTOO Scoops Underwriting Manager Of The Year at the FIA Intermediary Experience Awards!!!
iTOO Special Risks has won the Managing Agency of the Year award at this year’s Financial Intermediary Association (FIA...
30 July 2024 • iTOO
iTOO enters Strategic Partnership with Medical Professional Indemnity specialist EthiQal
iTOO Special Risks, a specialty risk underwriter and EthiQal, a medical professional indemnity provider for specialist doctors, have announced an...
