• Insuring the Irreplaceable

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    On the Personal Insurance side, your dedicated Client Manager, will manage your portfolio of coverage – including homeowners, auto, marine and umbrella policies. If you have the need for an extra layer of support to safeguard your assets, we offer Private Client Group services. The Private Client Group clients are offered comprehensive risk programs and a range of elite services. The Business Insurance group takes the time to understand your unique circumstances, work with you to safeguard your business, resources and assets from potential liabilities. Our proprietary, consultative approach will exceed your expectations.
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    Rogers & Gray Insurance Agency

    Building an art collection is not just a passionate pastime; it also can be a savvy financial move. The value of fine art and jewelry continues to appreciate, but that means that you also need to think about protecting those assets from mishaps.

    Once you purchase a piece of fine art, it’s a good idea to immediately plan your protection strategy. At the time of purchase, inquire as to any special requirements that might be needed for protecting your new artwork. Ask the gallery or dealer for any advice they might have, they or the artist might have printed care and handling instructions available for you.  Then speak with your insurance agent about proper coverage in case of damage or theft.

    “There is growing evidence that people are viewing the purchase of art or collectibles as an investment,” says Martin Hartley, chief operating officer of Privilege Underwriters Inc. (PURE Insurance) “It’s a great deal of diversification from the stock market and bonds — and it’s fun, too.”

    Through their network of insurance agencies, high end insurers like PURE, team up with family offices and wealth managers to provide consulting regarding coverage on higher-end property for clients with significant collections.

    The world of property coverage for the wealthy can be rife with misunderstanding.  As there are typically estate-planning and insurance implications for inherited works of art, having professionals to help navigate is beneficial.

    Contrary to what many people might believe — a typical homeowner’s insurance policy won’t cover all the valuables inside.  Rather, your inherited Picasso painting will need its own policy.

    Should the work require repair or restoration due to an accident, a specific fine-art policy could cover both the restoration and the decrease in value, Mr. Hartley explains.

    While not everyone can own a Picasso, Cape Cod’s vibrant arts community and galleries, can surely help you begin your collection or add to it.

    April 28, 2014