As climate change continues to take a toll on our planet, art insurance is becoming increasingly expensive!!
If you visit a museum or buy an art piece from a gallery, these expenses will trickle down to you, the consumer.
Art insurance around the world is expected in conjunction with climate change. Art insurance is typically bought by art museums, galleries, and collectors to help protect not only against theft and damage to the piece, but also for natural disasters.
Between 1980-2021, there was an average number of 7.7 weather and climate disaster events. That’s just in the U.S.
So, because of this, premiums are expected to rise consistently to match the denser quantity of weather and climate-related disasters.
The worse climate change gets, the more expensive things will be in the world.