Indemnity Insurance

[p.e.o.]

Anyone have knowledge about indemnity insurance for a sculpture while in transit to its final destination? Or insurance necessary for a public project that will be transported and installed by the artist. I'd appreciate any input on this.
Thanks ya'll.
P.E.O.

[Ries]

There are a couple of different things here-
One, you want to insure the sculpture against damage while in transit.
Often, this can be done by the carrier, if you are paying a trucker to do it.
And I would recommend this- its almost always cheaper, faster, and easier to pay a commercial trucker, as opposed to renting trucks and trying to do it yourself.
I ship 2 or 3 big pieces a year, and always use commercial truckers.
I dont call it "art" though- just "metal fabrication".

Second, you are asking about liability insurance for a public project?
Usually, the public agency will tell you what they require- standard is a one million dollar liability policy.

The best, and cheapest way to deal with this is to get a business policy, which will cover your artwork in transit, your studio against fire and theft, and liability both in your studio and onsite.

cost for this varies depending on amounts- whether you own or rent your studio, how much equipment you want to insure, whether you have employees or not, and so on. Probably for between $1000 and $2000 a year, you can get a business policy that will do all this. Mine runs a bit more than this, but I have 5 studio buildings full of tools, materials, computers, a technical library, and so on, so mine is more expensive than most.

I always build in insurance costs as a line item in my budgets for public pieces- they are requiring it, and they need to pay for it.

[p.e.o.]

Ries, thank you for the response...you've helped answer all my questions and I know how to proceed with my proposal.
sincerely,
P.E.O.