What it does
PM 00 17 schedules fine arts property and is attached to PM 00 01, alone or with other PIM forms such as the personal property form. Fine arts are generally scheduled on an agreed-value basis, and newly acquired fine arts must be reported within 90 days.
Who needs it
Collectors, including business owners whose art hangs at home.
Quoting and selling notes
- Art displayed at the business premises is a commercial exposure; use a commercial fine arts form.
- Breakage of fragile items may need a specific option.
How the personal inland marine program is assembled
Every ISO personal inland marine policy starts with PM 00 01 (Common Policy Provisions), which holds the general conditions, loss settlement framework and common exclusions, and adds one or more coverage forms: the personal articles forms PM 00 09 (standard loss settlement) or PM 00 10 (agreed value), class forms such as PM 00 11 (jewelry and furs), PM 00 14 (musical instruments), PM 00 17 (fine arts) and PM 00 18 (bicycles), the open-perils personal property form PM 00 19, or the personal effects floater PM 00 20 for property while traveling.
For business owners, remember that business, professional and commercially used property (a photographer's working cameras, a musician's instruments used for pay, a dealer's inventory) generally belongs on a commercial inland marine form rather than these personal forms.
Editions and availability
Current edition: 12 02.
