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Illinois ALPLM - Abraham Lincoln Presidential Library and Museum·Illinois

Fine Art Insurance Policy

Closes 3/17/2025$45k – $450kRequest for Quotation
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Description

The State of Illinois, through the Abraham Lincoln Presidential Library and Museum, is seeking a Fine Art Insurance Policy with a limit of five million dollars, renewable for three years. The policy should cover fine arts and is intended to protect the library and museum's collections. The bid includes the request for quote and details, which can be found in the attachments. The vendor is expected to provide a certificate of insurance naming the State as an additional insured. The contract will be for a period of three years, and the vendor must comply with all applicable federal, state, and local laws. • The policy should have a limit of five million dollars. • The policy should be renewable for three years. • The vendor must provide a certificate of insurance naming the State as an additional insured. • The contract will be for a period of three years. • The vendor must comply with all applicable federal, state, and local laws.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Tammy Miner(Purchaser)

(217)785-4513

Key dates

Opened
3/12/2025
Closes
3/17/2025
Duration
3 years

Last updated

Details

Type
Request for Quotation
Industry
Insurance
NAICS
524130
Solicitation №
25-506ALPLM-ALPLM-B-46908

Budget estimate

$45,000 – $450,000

The budget for this contract can be estimated based on the premium for a fine art insurance policy with a limit of five million dollars. The cost of such a policy can vary depending on several factors, including the value of the artwork, the location, and the level of coverage. However, as a rough estimate, the annual premium for a fine art insurance policy can range from 0.1% to 1% of the total value of the artwork. Based on this, the total budget for the three-year contract could be around $15,000 to $150,000 per year, depending on the premium rate. The total budget for the three-year contract could be around $45,000 to $450,000.

AI estimate from the solicitation

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