Military museums insurance focus

Associate Supplier Hayes Parsons Insurance Brokers consider how military museums might protect their assets and activities.

The UK has an amazing wealth of military museums and many of these rank as top UK visitor attractions. Whether such museums display aircraft, ships, tanks, collections of weapons, combat costumes, memorabilia, art, valuable medals, unique documents, or even expensive multi-media technology to re-tell battles and stories of old, they face unique challenges.

Does it add up right? 

When speaking at the 2022 AIM conference I discussed the valuations of collections, art, and other precious objects. To get the best insurance cover called “Agreed Value” museums will typically have to satisfy insurers that items have been re-valued every five years. There may be cases where this can be stretched, but museums should get such permission in writing.

Security of displays

Sometimes very high value items such as Victoria Crosses are placed in cabinets or even rooms that are not quite as secure as they could be in terms of the grade of cabinet glass, security of locks, door locks, or even how portable any display cabinets are. It’s worth checking these facts with your broker. Likewise, if you have winches that hold up heavy items such as aircraft or large pieces of equipment, or special displays hanging where people walk underneath, do ensure that you get the relevant inspections carried out, and appropriate insurances too.

Storage

When dealing with the storage of art, or military clothing, it’s worth thinking about temperature and humidity. Gradual degradation of your items cannot be covered by insurance so it’s best to be cautious over storage matters.

Multiple locations

If military museums have items in various locations, it is wise to check that insurers have the full list. And when museums move items from location to location, they should ensure adequate transit cover. Sometimes insurers are fussier over the security of higher value items in locations with no alarms.

Special events

Many military museums get involved in all manner of special events both on site and off site, sometimes organised by themselves, and sometimes jointly with other bodies. It is worth flagging these with your broker in good time, so that full details can be disclosed, ensuring maximum protection of your people and the event itself.

Contact Hayes Parsons

To discuss any aspect of your museum insurance, get in touch with our museum expert, Martin Howard Cert CII Account Executive.
0117 930 1668 or 07719 023 194
m.howard@hayesparsons.co.uk