Antiques Dealer Professional Indemnity Insurance

PI insurance for antiques dealers covers claims arising from professional negligence in your dealing and advisory services. This includes errors in authentication, attribution, dating, and provenance research that cause financial loss to buyers. Coverage extends to legal defence costs and compensation for negligent advice or negligent misrepresentation.

Professional Indemnity insurance is increasingly important for antiques dealers, particularly those selling higher-value items or providing authentication services. While not legally mandated, it protects against claims when items prove inauthentic or misrepresented. Dealers participating in antiques fairs or selling through established platforms may require PI cover.

Key risks include selling items that prove inauthentic or misdated, failing to disclose restorations or repairs that affect value, provenance errors that expose buyers to ownership claims, misidentifying materials or origins, and failing to identify reproductions being sold as genuine antiques.

Yes, PI insurance covers claims arising from negligent authentication opinions and misrepresentation of items. This includes situations where you sell an item as genuine that later proves to be a reproduction or fake, or where dating or attribution proves incorrect.

Coverage requirements depend on the value of items you trade. Dealers handling museum-quality pieces or significant collections typically need $2-5 million in aggregate cover. Those focusing on mid-range antiques may need $1-2 million. We assess your typical transaction values and recommend appropriate limits.