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Limits of Liability and Insurance

Here are some questions and answers regarding limits of liability and insurance when working with Crozier. 

What is the extent of Crozier’s liability for loss or damage to Clients’ property resulting from Crozier’s negligence? 

Crozier’s liability, in line with industry practice, is limited to $0.60 cents per pound as determined by the actual weight of the unwrapped property, unless, in exchange for an increased charge, the Client and Crozier agree on a higher value with respect to certain items.  Our agreements set this out with clarity. 

Do you offer Clients the ability to increase Crozier’s potential liability for loss or damage to Clients’ items? 

Yes.  Upon written request, in compliance with the Uniform Commercial Code, we give clients the opportunity to declare a value in exchange for a higher charge. This increases Crozier’s potential liability from $0.60 per pound by weight to the declared value. As with the $0.60 per pound limitation, Crozier’s actual liability is limited to circumstances where it is shown that Crozier acted negligently in providing services that led to loss or damage.   Clients may find it less costly to procure all risk insurance on the declared value of items.  

Does Crozier offer insurance? 

No. Crozier Clients may however procure insurance through DeWitt Stern, a specialist insurance broker, with Lloyd’s of London under a special insurance policy for Crozier clients. The coverage is described by the insurer as “all risk” subject to certain exclusions, which are reflected in the policy. 

Why would I want to procure the insurance available to Crozier Clients offered by DeWitt Stern? 

Many household insurance policies have exclusions or restrictive cover for items outside the home or in transit and may therefore not provide adequate cover. Some gallery or private collector policies may not provide sufficient transit limits or worldwide cover and an extension may be more expensive than a ‘one-off’ cover arranged through DeWitt Stern. If you have any additional questions you should contact your professional advisors.  

How is the insurance premium calculated? 

DeWitt Stern has negotiated attractive premiums for ‘All Risks’ insurance. You may obtain further information from Emily Weiss at DeWitt Stern: eweiss@dewittstern.com.  

How do I apply for such coverage? 

To apply for coverage, you need to complete DeWitt Stern’s insurance application and return it to DeWitt Stern.