Auctioneer Liability Insurance Coverage
No matter the location or how affordable the items are, auctions draw large crowds seeking a chance to getting in a bidding war and come away the winner. Auctions are so much fun people even show up just to look at what’s up for bid without the intention of ever making an offer. Despite how happy people are when they outbid everyone else for the desired item, there’s always the possibility of trouble looming right around the corner. Being an auctioneer, you face the responsibility of not only leading the auction but also being held accountable in the event that something goes wrong. With such a large quantity of items up for bidding, it’s very easy for a mix-up to happen or accidentally getting the starting price wrong.
Pretty much all auction companies have insurance to protect themselves from liability, but this doesn’t always cover the auctioneer’s liability. This is why it’s important for all auctioneers to have auction liability insurance in the event that something goes wrong and they are being held responsible. Since many auctions feature private collectors auctioning off their belongings, an auctioneer could easily face a liability lawsuit seeking monetary damages if something goes wrong, even if it isn’t the auctioneer’s fault. The best way to avoid a misshape like this is to take every precaution necessary and that includes getting a custom auctioneer liability insurance plan.
Authored by Rick J. Lindsey, President, Chairman, and CEO of XINSURANCE
Rick J. Lindsey hails from Salt Lake City, Utah. He began working in the mailroom of his father’s Salt Lake City insurance firm, getting his introduction to the business that became his lifelong career. Rick J. Lindsey quickly rose through the ranks while working in nearly every imaginable insurance industry job. As an entrepreneur, specialty lines underwriter, claims specialist, risk manager, and a licensed surplus lines broker, Rick J. Lindsey is highly skilled in all levels of leadership and execution. As he progressed on his career path, Rick J. Lindsey discovered an urgent need for insurers willing to write policies for high-risk individuals and businesses. He was frequently frustrated that he could not provide the liability protection these entities desperately needed to safeguard their assets. He also formed the belief that insurance companies acted too quickly to settle frivolous claims. Rick J. Lindsey decided to try a different approach. He started an insurance company and became the newly formed entity’s CEO. This opportunity has enabled Rick J. Lindsey to fill a void in the market and provide a valuable service to businesses, individuals, and insurance agents who write high-risk business. XINSURANCE also specializes in helping individuals and businesses who live a lifestyle or participate in activities that make them difficult for traditional carriers to insure. If you’ve been denied, non-renewed, or canceled coverage, don’t give up quite yet. Chances are XINSURANCE can help.
