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24 October 2026 · Updated at 07:47 GMT FR EN ES Member area Log in
Certification

Insurance value

How a conservation report is used to set, justify and update the insured value of a work.

Updated : October 28, 2026· 3 min read

Insure what you can prove

Fragment of a belt (hizam) (1800s)
Fragment of a belt (hizam) (1800s)

A work insured at the right value, with a documented condition, is compensated without argument in the event of a claim. The conservation report is the central piece of this arrangement.

OIMAP does not set the value of a work. It attests to its condition and identity; value is determined by a valuation expert. The report gives the insurer the elements needed to contract and compensate with confidence.

This page describes how to use the report to prepare an insurance policy, a loan or a claim settlement.

  • Valuation
  • Insurer
  • Claim
  • Update

Insurance in figures

5 yearsvalidity of the report
2documents for the insurer: report and certificate
30 daysto declare a claim
−40%price of a follow-up report

Building an insurance file

  1. Identify the work

    Certificate of authenticity, OIMAP number, photographs.

  2. Document the condition

    Up-to-date conservation report (under 5 years old).

  3. Have it valued

    Valuation by an independent expert, dated and signed.

  4. Declare to the insurer

    Submission of the file and choice of insurance mode.

  5. Update

    Review of value and condition at regular intervals.

Common insurance modes

Choosing your cover
ModePrincipleWhen to choose it
Agreed valueValue fixed in advance between insured and insurerHigh-value works
Replacement valueCost of acquiring an equivalent workOrdinary works
Declared valueValue stated by the insuredSmall collections
Door to doorCover throughout transportLoans and exhibitions
Solidus of Justinian I (reverse) (545–565)
Solidus of Justinian I (reverse) (545–565)
Compass and Sun Dial (1700–1750)
Compass and Sun Dial (1700–1750)
American Red Cross War Council Medal (reverse), Daniel Chester French (1920)
American Red Cross War Council Medal (reverse), Daniel Chester French (1920)

A report that protects

Before and after a claim

Nymphs and a Satyr (Amor Vincit Omnia), Nicolas Poussin (c. 1625–27)

Before the claim

Up-to-date report
  • Documented condition
  • Reference photographs
  • Justified agreed value

Fast, dispute-free compensation.

Solidus with Busts of Constans II and Constantine IV (obverse) (659–661)

Without a report

No reference condition
  • Disputed condition
  • Value hard to prove
  • Longer settlement times

Risk of under-compensation.

Change in insured value after a report (average difference)

Old works+12%
Modern works+9%
Contemporary works+6%
Tribal arts+15%

Difference between initial value and value after documentation (indicative).

Timeline for insuring a work

  1. Acquisition

    Registration and certificate.

  2. Report

    Initial condition survey.

  3. Valuation

    Agreed value with the insurer.

  4. Update

    New follow-up report.

  5. Event

    Loan, transport, claim: supplementary report.

Case study: water damage

Compensation without dispute

Situation

A claim damages a painting displayed in a gallery.

Actions
  1. The insured declares the claim within 30 days.
  2. A follow-up report compares the condition before and after.
  3. The insurer adopts the restoration cost from the report.
Outcome

Compensation within six weeks, without adversarial expert examination.

Obligations of the insured

The Shepherd, Paulus Potter (1644)
The Shepherd, Paulus Potter (1644)
Stater: BODVOC on plain field (obverse); Horse, Wheel, and Crescent (reverse) (10 BCE–20 CE)
Stater: BODVOC on plain field (obverse); Horse, Wheel, and Crescent (reverse) (10 BCE–20 CE)
The Judgment of Midas, Nicolaes Clock (1589)
The Judgment of Midas, Nicolaes Clock (1589)

A professional's tip

Guinea: Anne (obverse); Shields and rose (reverse) (1703)
« A report costs a few hundred euros. An insurance dispute, months. »
Certification Department, OIMAP

Vocabulary of insurance

Agreed value
Value fixed by mutual agreement and enforceable in the event of a claim.
Door to door
Door-to-door transport cover.
Claim
Event that causes damage to the work.
Excess
Share of the damage remaining payable by the insured.

Frequently asked questions

Does OIMAP value the work?

No. Valuation is a matter for an independent valuation expert.

Does my insurer require the OIMAP report?

Many insurers accept it as a reference document; check with yours.

Does the report cover works on deposit?

Yes, if the work is registered.

Is the report valid abroad?

Yes, in the 67 Member States.

Useful documents

Contacts

Pair of Drawings: Sketch of the Labyrinth of the Villa Pisani and Piazza San Marco with Doges' Palace, Francesco Guardi (1773–1778(?))
Pair of Drawings: Sketch of the Labyrinth of the Villa Pisani and Piazza San Marco with Doges' Palace, Francesco Guardi (1773–1778(?))
Certification DepartmentParis — Headquarters+33 1 00 00 00 00certification@oimap.exampleMonday to Friday, 9 a.m. – 5 p.m.

Request a conservation report

Marie-Yolande de Fitz-James, Henri Fantin-Latour (1867)

Document the condition of your work before insuring it.

Request a certification
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