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Guide to Insurance

Understanding Insurance

There are many insurance options available for artists; however, navigating the insurance field can be challenging. This guide will help you to sort out insurance basics and give you a brief overview of how to find the best insurance for your needs.

One way to think about insurance is that it protects you from uncertainty. Risk is unavoidable in our day-to-day lives. Your artwork might be stolen from your studio; a flood or fire may damage your home or workspace; or you could become injured and be unable to work. Insurance provides you with some security knowing that if one or more of these situations occur, you would not have to bear the total financial cost personally.

An insurance policy is a legal contract between you and your insurance provider. Most insurance companies charge a monthly fee for their coverage. By paying a fee every month, your insurance provider is agreeing to pay you in the event you experience a financial or personal loss. You should review all insurance documents carefully because every insurance policy is different. Make sure you understand the terms of the policy. It is especially important to understand what losses are not covered by the plan. When submitting a claim, this information will make the process much easier. When researching insurance policies and providers be sure to get answers to some basic questions: How much does it cost?  What is covered by the plan? What is your deductible? How do I file a claim?

You should also keep in mind that insurance regulations vary by state. You can view health insurance regulations for your state online. View the insurance resources section of this site for online and local organizations that provide assistance and information about insurance for individual artists.

View the Health Insurance Marketplace Calculator by the Kaiser Family Foundation to find out if you qualify for a health insurance subsidy and estimate how much.

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