Insure all your vehicles—including collector cars, motorcycles and more—on one policy at a competitive rate. We deliver comprehensive coverage around your driven lifestyle, so you can focus on the road ahead.
Get the Facts
In addition to their cultural and aesthetic value, private collections are investments. These tangible assets require proper insurance protection to help preserve long-term value. Most homeowners policies limit coverage for valuables and exclude coverage for perishables, such as wine. The easiest way to insure these items is via a distinct private collections policy.
First Foundation Advantages
Whether you take jewelry on vacation or move art to a summer residence, our policy covers damage due to fire, theft, earthquake, flood and breakage anywhere in the world even while in transit. Our carriers in-house art collection managers assess the vulnerability of our clients’ collections and recommend ways to reduce the likelihood or magnitude of loss.
Some of our Carrier Coverage Highlights include:
Comprehensive CoverageInsure virtually any fine collectible or memorabilia—from autographs to Zulu war masks. Our policy responds to damage from fire, theft, earthquake, flood and breakage.
150% ReplacementIf a loss occurs and the item’s current market value exceeds your coverage limit, you can be reimbursed for up to 150% of the insured amount.
Newly Acquired ItemsNew acquisitions are immediately covered at the time of purchase.
Worldwide CoverageEach piece included on the policy is protected, regardless of location.
Care, Custody and ControlTake items home on loan before finalizing the purchase and know they’re protected.
Collections as CollateralWe can insure artwork used as a loan guarantee. Usually the lending institution will request to be added to your policy as a “loss payee,” as it would have a vested financial interest in its value.
Wine CoverageChoose one overall coverage limit or insure bottles individually. Features include coverage for spoilage due to mechanical breakdown of climate-control systems, breakage and more. Automatic coverage is provided up to 25% of the policy class limit effective for 90 days following the purchase; it is intended to allow ample time to add items to your policy.
Managing Risk, Preventing LossIn addition to robust insurance coverage, Private Client Group can help preserve the value of your collection and keep it out of harm’s way. Our in-house art collection management specialists offer a comprehensive array of services, including:
Coverage ReviewsWe can assess how your coverage compares to current market values and ensure that you have the right amount of insurance in place. If needed, we coordinate with independent appraisers to expedite valuations.
Vulnerability AssessmentsWe complete collections-specific site surveys to identify potential threats to your collection and provide solutions to minimize the likelihood and severity of future damage.
Emergency PlanningTo minimize damage to collections in areas prone to wildfires, hurricanes, earthquakes and other catastrophes, we design customized disaster plans to utilize before and after an event.
What to Expect at Claim Time
Here are examples of our exceptional carrier claims service in action:
First at the SceneA policyholder’s secondary home was burglarized, and several pieces of jewelry were stolen. He reported the loss to his independent insurance advisor moments after reporting the incident to the police, and requested that a claims adjuster respond as soon as possible. Our carrier partners were there within 45 minutes—before even the police. Their claims specialist came armed with copies of the scheduled jewelry list, and the names and telephone numbers of two private security companies available to guard the house until the alarm system could be repaired. They also had arranged for an emergency board-up vendor to head toward the property, in case doors or windows had been broken. The policyholder hadn’t had a moment to consider these critical exposures and was duly grateful.
It Pays to Have Knowledgeable Claims Support
A policyholder submitted a claim under her homeowners’ policy for a lost diamond bracelet. The bracelet, valued at nearly $5,000, had been purchased less than 90 days prior. The homeowners’ policy carried a $2,500 deductible, which meant the policyholder could only recover 50% of the value of the missing bracelet.
Most insurance companies would have simply honored the deductible and paid out the rest. Our carrier claims specialist had the foresight to further review the circumstances. The claims specialist discovered that this client also had a private collections policy, which did not have a deductible. Their savvy specialist also knew that our private collections policy automatically extends to newly acquired items up to 90 after purchase. By attributing the jewelry loss to the more precise policy, the client recovered the full value of the bracelet.
Lost and Found
While lounging on her boat at the marina, a policyholder’s diamond bracelet—a gift to commemorate the birth of her child—fell off her wrist and into the water. Rather than simply pay the claim, our carrier partner recognized the item’s sentimental value and hired a professional diver, who successfully recovered it.