Auction House Insurance
Auction house insurance is designed for businesses that handle valuations, display goods, host sales, store customer property, manage viewings and sell items by auction.
Because auction houses can have stock, customer goods, high-value items, public visitors, premises risks, liability exposures and professional advice risks, a specialist broker may be able to help review suitable cover options.
Referral enquiries may be reviewed by a specialist insurance broker, subject to underwriting criteria, insurer acceptance, terms and conditions.
Specialist Referral Support for Auction Houses
Auction houses may need cover for buildings, contents, customer property, goods held in trust, public liability, employers' liability, business interruption, transit, professional indemnity and cyber risks.
Quote Monkey may be able to refer your enquiry to a specialist insurance broker who can review how your auction business operates and discuss suitable cover options.
Common Insurance Sections for Auction Houses
Buildings Insurance
Buildings insurance may help protect the auction premises, including the saleroom, offices, storage areas, valuation rooms, fixtures, fittings, frontage and outbuildings, subject to the policy wording.
Contents, Fixtures and Equipment Insurance
Contents cover may help protect office equipment, display cabinets, shelving, rostrums, computers, photography equipment, security systems, furniture and other business equipment used in the auction house.
Stock and Customer Goods Cover
Auction houses often hold goods belonging to clients, vendors or buyers. Specialist cover may be needed for goods held in trust, consigned items, stock, antiques, artworks, collectables or high-value items.
Public Liability Insurance
Public liability may help protect against claims if a visitor, bidder, vendor, buyer, contractor or member of the public is injured or their property is damaged in connection with the auction house business.
Business Interruption Insurance
Business interruption cover may help protect lost income and ongoing costs if the auction house cannot trade following insured damage, such as fire, flood, theft or storm damage.
Who May Need Auction House Insurance?
Auction house insurance may be suitable for:
Traditional auction houses
Antique auctioneers
Fine art auction houses
General salerooms
Online auction businesses with premises
Valuation businesses
Collectables auctioneers
Commercial asset auctioneers
Furniture and household goods auction houses
Jewellery and watch auctioneers
Vehicle or plant auction operators
Auction businesses with public viewing days
Businesses storing customer goods before or after sale
Auctioneers attending off-site valuations or sales
Goods Held in Trust and High-Value Items
Auction houses may handle items that belong to vendors, buyers or third parties. These can include antiques, jewellery, watches, fine art, furniture, collectibles, vehicles, tools, equipment or commercial assets.
Insurers may ask about maximum values held, average values, storage arrangements, security, alarms, safes, cabinets, transit, photography, cataloguing, viewing days and procedures for collection after sale.
Professional Indemnity and Valuation Risks
Auction houses may provide valuations, descriptions, reserve guidance, condition information and catalogue entries. If a client alleges incorrect advice, misdescription, negligence or financial loss, professional indemnity insurance may be relevant.
This type of cover is separate from ordinary property or public liability insurance, so it should be discussed clearly where valuation or advisory services are provided.
Information a Specialist Broker May Ask For
To review an auction house insurance referral, a broker may ask for:
Business name and trading address
Type of auctions held
Annual turnover and commission income
Maximum value of goods held
Average value of goods held
Whether goods are owned by the business or held on behalf of customers
Types of items auctioned
Security, alarms, CCTV and safes
Storage and warehouse arrangements
Whether goods are transported or collected
Public viewing and sale day arrangements
Number of employees
Claims history
Whether buildings, contents, stock, customer goods, liability, professional indemnity or business interruption cover is required
What May Not Be Covered
Auction house insurance cover depends on the insurer, business activities, stock values, premises security, policy wording, exclusions and conditions. Common restricted or excluded areas may include:
Undeclared high-value goods
Goods held beyond policy limits
Theft without forced or violent entry, depending on policy terms
Unattended goods in transit
Misdescription or valuation errors without professional indemnity cover
Wear and tear or gradual deterioration
Existing damage or known issues
Cyber incidents unless cyber cover is included
Claims outside declared business activities
Failure to comply with security, alarm or storage conditions
Always check the full policy wording, schedule, exclusions and conditions before relying on cover.
Request a Specialist Broker Referral
If you need auction house insurance reviewed by a specialist broker, you can submit details of your saleroom, stock, customer goods, security, turnover and required cover.
Referral enquiries may be reviewed by a specialist insurance broker, subject to underwriting criteria, insurer acceptance, terms and conditions.