Auction House Insurance Coverage Checklist
The coverages an auction house business may carry — core, prevalent, and situational — why each matters, and the gap most often missed.
Pull out your current policy and check the box next to any coverage you can confirm is already in place — anything unchecked is worth a quick conversation with your advisor. Coverage checklist for auction companies and auction houses, including online and livestock sales. Priorities reflect typical exposure for this class; confirm against the categories sold and how proceeds are handled.
Tick each coverage you can confirm you carry — anything left unticked is a good question for your next policy review.
| Have it? | Coverage | Why this business needs it | Priority |
|---|---|---|---|
| Consigned Property / Bailee | Coverage Covers consignors' goods and sold goods awaiting pickup while in your care — standard property forms often limit property of others. | Core | |
| Auctioneers Errors & Omissions | Covers misdescription, authenticity, clerking, settlement, and wrongful-withdrawal claims. | Core | |
| Commercial General Liability | Covers injuries to bidders and visitors at previews, sales, and loading. | Core | |
| Crime / Fidelity Coverage | Covers employee theft of goods or of sale proceeds held for consignors. | Core | |
| Surety Bonds | Required by many states for auction firms, and by USDA for livestock markets. | Situational | |
| Inland Marine / Transit | Covers goods while being picked up, packed, shipped, or delivered. | Prevalent | |
| Cyber Liability | Covers online bidding platforms, payment fraud, and bidder data. | Prevalent | |
| Fine Art / Jewelry Floater | Needed for high-value lots that exceed general stock limits. | Situational | |
| Workers' Compensation | Required in most states; lifting and loading injuries are common. | Situational |
The coverage gap most often missed
The most commonly missed gap for this class is coverage for other people's property. Before a sale the house holds consignors' goods, and after the sale it often holds buyers' goods awaiting pickup — yet many property policies limit or exclude property of others, and consignment agreements are often silent on who insures what. The house also holds other people's money: proceeds held for consignors are fiduciary funds, and a shortfall from theft or bookkeeping error is a crime and bond exposure, not a routine business loss.
Send us the checklist and we'll review your auction house coverage line by line, then market it across multiple carriers that compete for your account.
Related: Auction House Insurance · Auction House Supplemental (apply) · All coverage checklists
Frequently asked questions
What insurance does an auction house business need?
The core coverages for an auction house business are Consigned Property / Bailee, Auctioneers Errors & Omissions, Commercial General Liability, Crime / Fidelity Coverage. This checklist also lists the prevalent and situational coverages worth considering, with a plain-English note on why each matters.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my auction house coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.