What is Auctioneer’s Insurance?
Auctioneer’s insurance offers coverage for the inventory held by the auctioneer that has yet to be sold, or that has been sold but not yet delivered to the buyer. As an auctioneer, your inventory is constantly changing, and you need insurance that can keep pace.
Acadia Insurance offers insurance protection uniquely designed for auctioneers. Here are some of the coverage features that are available:
- Coverage for owned and consigned inventory
- Coverage for breakage
- Coverage extension for incidental jewelry, motor vehicles and watercraft held at auction
- Coverage provided at auction site, temporary storage locations and other identified locations
- Coverage for property sold but still in your custody
- Tailored valuation methods to ensure adequate protection