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Fine Art

STATE OF FLORIDA

FINE ART INSURANCE PROGRAM

This insurance is purchased and administered by the Department of Management Services, Division of State Purchasing. The outline of coverage shown below is provided as an overview; please refer to the insurance policies for specific information. All questions relating to this policy should be directed to State Purchasing at (850) 487-0417 or Suncom 277-0417.

DESCRIPTION OF ELIGIBLE PROPERTY:

Unique fine arts on loan or owned by the state including:

· Museum Collections

· Murals

· Stained Glass

· Sculptures

· Gallery Exhibits

(Indicate whether the property is indoors or outdoors.)

DESCRIPTION OF COVERAGE:

All risk of direct physical loss/damage to insured property.

LIMIT OF INSURANCE:

The lesser of the insured item's value per schedule on file or:

Indoor:

At a named risk-location	$2,000,000 ANY ONE LOSS
At an unnamed risk-location	$2,000,000 ANY ONE LOSS
While in transit	$2,000,000 ANY ONE LOSS
Legal liability	$2,000,000 ANY ONE LOSS

Outdoor:

At a named risk-location	$4,382,000 ANY ONE LOSS
At an unnamed risk-location	$750,000 ANY ONE LOSS
While in transit	$750,000 ANY ONE LOSS
Legal liability	$4,382,000 ANY ONE LOSS

DEDUCTIBLE:

Indoor: None

Outdoor:

$2,500 - each and every loss applicable to the Insured's own property only.

$10,000 - each and every loss applicable to the Insured's own property in respect of vandalism/malicious damage.

$25,000 - for windstorm losses

VALUATION:

Refer to the policy for specific information, which may include:

Current market value, or amounts agreed upon by the insured.

PARTIAL LOSS:

Depreciation (if any) after restoration, up to the value of the property.

RATE: