Am I required to maintain insurance on my property while it is in ArtLoan’s custody?
In some cases, ArtLoan’s underwriting department requires clients to maintain insurance on their property during the pendency of their loan. A one-year paid receipt for a fine arts insurance policy or rider for at least the amount of the loan may be required at loan closing. This depends on the size of the loan, the anticipated duration of the loan, and the property used to secure the loan. Although our underwriting department may not ask you to furnish proof of insurance, we strongly advise all clients to maintain insurance on their property even while it is in ArtLoan’s safekeeping.
