One purpose of insurance is to allow you to continue with your mission.   If
irreplaceable objects are lost (damage or theft) do you want to just close
the museum doors or are there other objects that could be purchased (with
insurance money) that would allow you to continue doing what you're doing.


Janice Klein
Director, Mitchell Museum of the American Indian
[log in to unmask]
www.mitchellmuseum.org


-----Original Message-----
From: Museum discussion list [mailto:[log in to unmask]]On
Behalf Of Candace Perry
Sent: Thursday, March 17, 2005 3:17 PM
To: [log in to unmask]
Subject: Insuring the irreplaceable


I'm having a problem with this.  How do you insure objects that are
irreplaceable?  And how can they even be valued properly, when they are
most probably unique and there are no comparables?
If the object is stolen, goes missing, or burns up in a fire no big pot of
money is going to bring it back (a good part of our collection is this way!)
I'm really torn.  Insuring for damage, particularly when we lend to small
museums who can't carry large insurance costs but have excellent
professional practices, seems like a better way to go. Thoughts,
suggestions, help?
Candace Perry

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