Comments on: How does Lending a Painting to a Museum work? Will the museums cover the insurance? http://www.skylinemags.com/museums/how-does-lending-a-painting-to-a-museum-work-will-the-museums-cover-the-insurance/ Fri, 10 Feb 2012 11:04:59 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: fth106 http://www.skylinemags.com/museums/how-does-lending-a-painting-to-a-museum-work-will-the-museums-cover-the-insurance/#comment-1009 fth106 Tue, 29 Sep 2009 21:46:59 +0000 http://www.skylinemags.com/museums/how-does-lending-a-painting-to-a-museum-work-will-the-museums-cover-the-insurance#comment-1009 I really don't know what type of insurance Museums carry but if they have "bailees" coverage, it covers property of others while in their care, custody and control. I would ask the museum. I'm sure they would be glad to answer that part of your question. Reducing cost is another matter. It it a very valuable painting, and I'm assuming it is based on our question, I wouldn't try to cut corners in order to save a few bucks. You can insure it only against certain named perils, but if something outside of those perils happens, the painting wouldn't be covered. For instance, if you didn't cover it for theft and it was stolen, it wouldn't be covered. If you want to keep it in the family, why not volunteer to help defray the cost of insurance. Chip in and it would allow them to keep the painting so that you could one day have the burden of insuring it. lol<br><b>References : </b><br> I really don’t know what type of insurance Museums carry but if they have "bailees" coverage, it covers property of others while in their care, custody and control. I would ask the museum. I’m sure they would be glad to answer that part of your question.

Reducing cost is another matter. It it a very valuable painting, and I’m assuming it is based on our question, I wouldn’t try to cut corners in order to save a few bucks. You can insure it only against certain named perils, but if something outside of those perils happens, the painting wouldn’t be covered. For instance, if you didn’t cover it for theft and it was stolen, it wouldn’t be covered.

If you want to keep it in the family, why not volunteer to help defray the cost of insurance. Chip in and it would allow them to keep the painting so that you could one day have the burden of insuring it. lol
References :

]]>