With the start of hurricane season, AXA Art Insurance issued a reminder to collectors on ways to prepare for the worst and save valued possessions and important symbols of cultural heritage.
Recognizing that ensuring the safety of one’s home and family are most important in the face of a potential disaster, Christiane Fischer, CEO of AXA Art, noted that “proper implementation of a few timely precautions can help protect what sometimes translates into millions of dollars in aesthetic investments.” Maintaining a preemptive plan is critical to protecting any collection in an emergency situation.
Included in AXA Art’s checklist, which aids collectors in hurricane catastrophe planning are:
1. Fine art inventory: maintain a list of valuable artworks with descriptions, values and gallery receipts, prepared well in advance. Include emergency telephone numbers of your insurance agents/brokers, insurance company (note your policy number), conservators, art storage facility and local freeze dry facilities. Keep an extra copy with your insurance agent.
2. Protection of documents: secure important documents in water and fire proof safes or storage boxes. Keep additional copies at a separate secure location.
3. Art storage: plan in advance to make arrangements for art transportation to an arts storage facility or create art storage crates for your home.
4. Reinforced home: protective shutters and roof hurricane clips in place, outside furniture securely bolted, tied down, or stored indoors.
5. Emergency supplies: such as flashlights, fans, dehumidifiers, hurricane lamps and oil, matches and coolers. If you have an emergency generator, make sure it is above possible high water levels.
6. Cameras: such as waterproof instant cameras, to take pictures of damage.
But what do you do if your Rodin bronze is standing ankle-deep in water or your favorite Rosenquist print got scratched? Damage control is a matter of foresight and more than often swift, smart action. Putting wet art works on paper into a freezer until professional help arrives is only one of many tips provided by AXA’s specialists who strongly recommend preparing a list of conservators specializing in the respective collection focus with telephone numbers.
The expanded checklist is posted in the company’s hurricane newsletter on www.axa-art-usa.com.
Source: AXA Art Insurance
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