I want to insure some of my expensive paintings. What are my options?
G C Mullik, Delhi
Assuming you are a painter or collector, paintings and other works of art are generally covered under special policies that are not available off the shelf. The policy is so called because it is tailor-made to your specific risk needs. However, these policies don’t cover damage that occurs in the course of repairs to the painting. The usual practice before getting a painting insured is to get it valued from a professional; this value forms the basis of the sum insured. Also, since these policies are not governed by the insurance tariff, their premiums may vary considerably among insurers. Window-shop a bit before you settle on any one insurer.
