By Hope Wolman of Insurance Office of Central Ohio

There are many reasons, and these apply not just to art, but to silver, jewelry, musical instruments, wine and many fine things. We like to think about caring for your art and fine things, just like caring for your home. These things have significant value, and need a bit of attention. For our purposes today Coco, I will just address art.

1. Most policies have limits on what you can recover for certain classes of property. Any many policies have exclusions for the breakage of fragile articles. So if you spend money on buying art, you want it protected; you don’t want to have a loss that is unrecoverable. Moreover, insuring certain art often costs less than insuring general contents.

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Guest Blogger: Rebecca Korach Woan

"Just because you bought it doesn’t mean you own it."
-Lawrence Shindall, CEO, ARIS Corporation

The heightened sensitivity surrounding the provenance, or ownership history, of valuable works of art is a relatively recent phenomenon. While provenance and the related but distinct issue of legitimate title have always been factors in the assembling of art collections it was only in 1998 that the Association of Museum Directors issued guidelines for museums to first determine the provenance of their works to the best of their ability, and then to disclose it.

This was followed a year later by a similar directive from the American Association of Museums. These directives made particular reference to art that had changed hands during the World War II era (1933- 45), a time when looting and theft of artworks by regimes and individuals reached unprecedented levels of scale and value. Also highlighting this relatively recent attention to provenance was the formation in 1998 of the Presidential Advisory Commission on Holocaust Assets, which published its final report in 2000. Provenance alone does not tell the whole story. Good title is spoiled by theft, which includes the "forced sales" that occurred during the Second World War.

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