As a real estate agent or broker, you interact with both property owners and buyers every day. Showing properties, negotiating contracts and closing deals all pose unique risks that could jeopardize your business without adequate protection from insurance. Failing this could result in costly financial damages that threaten its viability, which makes having an affordable policy tailored specifically for your firm even more important.
Real Estate Business Insurance
Like every industry, real estate comes with its own set of risks. From slip-and-fall accidents during office visits to damages sustained during home showings, claims against your real estate agency can arise in various forms. One way to reduce these risks is with proper real estate business insurance; our licensed experts can assist in helping determine what specific coverages will work best for your agency.
Professional Liability Insurance should also be part of your standard business practices, often known as errors and omissions coverage. It provides legal coverage in case one of your mistakes leads to client financial loss; for example if a property for sale lists an inaccurate address and is later discovered unavailable by buyers; these buyers could sue your business for lost time and money which is why having E&O coverage is crucial.
With proper real estate agent business insurance coverage in place, you will also be protected against unexpected accidents that might occur while on the field. For instance, should a client slip on icy stairs of your office building or hit their head on unfinished basement during viewings and need medical treatment that would be covered by general liability coverage. In cases of employee injuries on the job, workers’ compensation coverage can provide for their medical costs and lost wages.
Real estate professionals should also invest in commercial auto coverage to cover damage done to their vehicle while transporting clients or property. This policy typically comes bundled together with general liability and commercial property policies for maximum savings – making this an economical solution for real estate professionals.
No matter your experience in real estate, accidents can still arise that could seriously compromise your business. Therefore, having affordable real estate business insurance that provides adequate liability protection is vitally important. Get in touch with us now to discover more of the affordable policies available from us and arrange a quote and explanation of coverages provided; compare policies online easily too if desired! We look forward to speaking to you soon and hope we hear from you soon enough!