Duly filled proposal form which should include the following ​

– Location of the Artwork​

– Use of the Artwork (for exhibition or otherwise)​

– Ownership history​

–Title & Date of the Artwork​

–Market Price vs Purchase Price​

–Dimensions (size, width and height)

Appraisal report from a valuer showing its description and value

Other requirements to be communicated during the sign-up process.

​

Q. What does the Art Insurance Policy cover? 


A. The policy covers:

• Accidental damage, theft (with forcible entry and violating breaking), or loss of artworks in or out of the premises.
• Protection during restoration/cleaning by qualified, independent experts.
• Legal liability for accidental bodily injury/death or property damage to visitors.
• Recoverable legal costs and approved expenses.
• Accidental bodily injuryor death of employees.
• Medical expenses from accidental injuries as defined in the policy.

Q. What is not covered under this Policy?

A. The policy excludes coverage for:

• Damage from vermin or insects, wear and tear, or mechanical/electrical breakdown.
• Damage to artwork or other property while being worked on or due to faulty workmanship or operational error during restoration.
• Artworks insured elsewhere (e.g., at an exhibition covered by the gallery’s insurance).
• Theft from damage to movable art or property in the open (wind, rain, flood, etc.).
• Damage to movable artwork or property in the open caused by theft, wind, rain, hail, flood, or dust.
• Damage to artwork in transit due to insufficient packaging or damage to glass or brittle items.
• Damage caused by theft or attempted theft from any unattended vehicle.
• Transit damage due to poor packaging or breakage of brittle items.

Q. How and when do i pay? 


A. Payment is made at the beginning of the policy period and continues based on payment plan (annually/monthly) to Leadway Assurance Companys bank account. Submit proof of payment, proposal form and valid means of identification to .

Q. How do i make claims/How do i get paid for my claim? 


A. Report any accident, loss or damage to us within 30 days, Secure damaged items to prevent further loss, email us at for processing. After review and approval, payment is made according to the policy terms.

Q. How do I cancel the contract? 


A. Email a cancellation request which is 30days after the inception date to . Cover ends the day the cancellation instruction is received.

Q. When does coverage begin/end? 


A. Starts: When full premium is paid. Ends: Policy expiration or premium lapse or after full claim payout.

Q. Where am i protected?

A. Anywhere in Nigeria.