Art & Entertainment

Commercial Fine Art Dealers & Auctioneers

For art businesses, the risk of damage or theft could severely impact your cash flow and tarnish your reputation.

iTOO’s insurance coverage is crafted to protect your art collection, letting you focus on its growth. Here’s how we make a difference:

  • Agreed Value Coverage: Protect your owned stock with insurance that acknowledges its true value
  • Extensive Recovery Network: We use our far-reaching network to raise awareness and actively engage in recovering stolen art
  • Buy-Back Option: In case of theft, we offer the unique option to repurchase recovered stolen art at the settlement value plus VAT

Why get commercial dealer and auctioneer cover with iTOO?

At iTOO, the team is composed of passionate collectors who bring a deep understanding to the intricacies of the art business. This expertise provides art dealers, auctioneers, and collectors the freedom to focus entirely on their trade’s growth.

With iTOO’s coverage, a guarantee stands that a seasoned and reputable assessor will carefully assess the collection’s value or ascertain the loss extent. Settlement terms are agreed upon in advance, offering solid assurance for any claims. Our proactive and transparent approach ensures a seamless and secure experience throughout the insurance process.

Our comprehensive offer

What's included?

For professionals operating as fine art dealers, antique dealers, auctioneers, gallery proprietors, or those involved in the transportation or custody of appreciating stock on behalf of others, iTOO’s insurance coverage is meticulously designed to meet the specific requirements of these roles.

Reciprocal Valuation Assurance

  • Achieve comprehensive protection for owned stock with coverage on a mutually agreed valuation.
  • Ensure consignment stock is covered, with terms reflecting a jointly agreed consignment value.

Collaborative Network and Art Recovery Option

  • Should theft occur, our widespread network will take action to recover the stolen item.
  • The opportunity to buy back recovered artwork is offered, with financial terms set at the settlement value plus VAT, simplifying the restoration process.

R6m paid out in art theft claims by iTOO Artinsure in the past year

Clever insurance for clever people

Protect your masterpiece with the masters of specialist insurance

How to get cover

Ask your insurance broker to contact us for a quote for commercial dealer and auctioneer cover. If you don’t have a broker, we can recommend FAIS registered brokers trained in our products. Choose whether to find a broker or contact one of our experts below.

Forms and documents

iTOO Commercial Fine Art Dealers & Auctioneers Product Card

This is a concise summary of the product offering, it provides a snapshot of the product's benefits, triggers and valuable partnerships.

Commercial Fine Art Dealers & Auctioneers experts

Our team of passionate, dynamic, and talented individuals.

How to claim

Contact your broker as soon as anything goes wrong. This can make all the difference to the chances of tracking and recovering stolen works or restoring damage. You can also send us an email detailing your claim and our claims department will contact your broker for specific supporting documents and other details we may require.

You’re in the hands of an expert. You can always be assured of professionalism, quick turnaround times and world-class technical knowledge. We’ll keep you in the loop every step of the way.

Frequently asked questions

Do I 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, valuables and collectables 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 iTOO Artinsure’s specialised products, collectors can ensure that their financial interests in their appreciating assets are fully protected.

Is there a minimum sum insured?

No, but we do apply minimum premiums.

How do I get valuations for artworks and collectables done?

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 your own account.

What commissions & fees are there?

All premiums quoted contain a 20% commission payable to the broker. We do not charge fees in addition. Brokers with whom we deal may charge additional fees which must be disclosed to clients.

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.

Gail Bosch
Nhlanzeko Mngomezulu

Still have questions?

Can’t find the answer you’re looking for? Chat to our team.

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