Insuring Antiques Centres

Posted on: October 16th, 2020

Images of antiques

Connoisseur Underwriting is one of the most innovative Insurers in the field of Antiques, Fine Art and collectables, with a willingness to do business with all the trades.

Up until now, we have not been able to find any evidence of Insurance especially designed for Antiques Centres, so we have decided to rectify that.

Yes, there are ordinary commercial policies offered to you, but they don’t really cut the mustard, when it comes to your particular needs.

There are two areas of extra special risk that you face:-

1. Your legal liability for dealer’ stock in your centre (Bailees’ Liability) and

2. Your legal liability for the sale of your dealers’ stock (Products Liability)

I am not going to bore you with all the ‘ins and outs’ of Bailees’ Liability and just advise you that, as you provide space for dealers’ stock, you are normally legally liable, if it can be shown that you are negligent. If you do want to look into this further, I suggest visiting Wikipedia and entering Bailment. Do be aware that most Insurance Policies will exclude your liability for dealers goods.

Our new policy offers you the option of various levels of protection for this risk.

The second risk seems less well understood. Selling goods, if you, as an Antiques Centre, issue a receipt on your own paper and the goods then go on to cause someone to suffer a physical injury, you could well be legally liable. In many cases, it would be pointless trying to shift the blame on to the dealer, as they are unlikely to have Insurance.

Our solution is to grant Public and Products Liability to all dealers operating at your Centre – a simple solution, but one that cuts through the whole risk.

We are aware that many of you regard Insurance as an expensive and boring distraction from selling Antiques and Collectables. Our job is to make it as painless and cost effective an experience as possible!

John Wakefield