Chubb survey: art aficionados to keep buying in 2015

34 percent buy additional coverage for new art

Most art and antique buyers plan to maintain or increase their spending this year, a Chubb survey revealed.

“Increased buyer activity, coupled with record-setting sales reported by the leading auction houses, can significantly impact art values,” says Chubb vice-president and worldwide fine art manager Melissa Lalka, “and collectors should keep in mind that their art and antiques can become alarmingly underinsured.”

32 percent of survey respondents believe they have sufficient coverage under their homeowner’s or renter’s policy, while 34 percent buy additional coverage for new art. 13 percent do not insure their art and antiques.

Chubb surveyed 445 shoppers at New York’s Winter Antiques Show last month.

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