Insurance for auction houses – protect the art and your reputation
Owning an auction house can be a very lucrative business. Fine art sells on the free market. As much as beauty is in the eye of the beholder, the value of art depends solely on how much the buyer is willing to pay. And auction houses receive their fair share of profit. However, handling art is also a risky business. When third parties entrust you with their valuable possessions, the last thing you want to do is lose or damage it before it is even auctioned.
Furthermore, with so many expensive artworks going in and out of your facility, you need to keep a watchful eye to prevent them from being stolen or vandalized. And even if you invest in the most advanced security system, it won’t protect the artworks from a fire, flood, earthquake, and other natural disasters. Sadly, in all of these cases, the auction house will be held responsible for the items it stores and ships. The art may be priceless, but it will surely cost you a small fortune to compensate for its loss.
Fortunately, there is a way to protect yourself from unexpected accidents. ArtInsuranceNow.com is a trusted broker providing auction houses with access to the “A” rated insurance companies with the best coverage for art. We will help you find an auction insurance policy that matches all of your requirements at a reasonable price.
Auctioneer insurance checklist
ArtInsuranceNow.com, We are your trusted choice insurance broker that reviews and sells art insurance policies and can arrange great coverage for:
Art Works can be tailored to your particular requirements. We can arrange coverage for your:
- Estate sales
- Artworks in transit
- Owned inventory
- Temporary Storage
Our Insurance companies will use fair valuation methods and offer blanket limits on the property in your care. We also make sure our clients’ insurance policies feature:
- No coinsurance clause
- Buy-back clause
- Pair & sets clause
- Fine art reference libraries
Why is having auction house insurance so important? Because even a single accident can ruin the reputation of your establishment and put you out of business forever. Evaluate the risks and do everything in your power to protect the art that passes through your doors!
Not all carriers offer insurance for the auction property. The ArtInsuranceNow.com team have been working in this field for years and have the necessary experience and connections to give you access to the best policies tailored to your requirements. To apply for insurance, please fill in the form you can find here or contact us if you have any questions.