Why do Real Estate Agents and Realtors need it?
Real estate agents and realtors are at the heart of today’s economy. Thus, the consequences of mistakes are also more at the forefront. That’s why business insurance that is reliable and customized to your profession has never been more important. BizInsure is where you can get dependable and affordable insurance tailored to exactly what you do. Click or Call us today to compare quotes for free.
Did you Know?
Professional liability insurance or E&O can help protect your real estate business in an event a liability lawsuit is filed against you. It may also help with legal defense that result from that lawsuit.
Real Estate insurance covers a broad range of professions.
We help insure many Real Estate professionals and businesses including (but not limited to):
Professional Liability Insurance (aka E&O insurance) – Real Estate Agents & Realtors
Businesses offering professional advice in the real estate industry are regarded as experts and are therefore often held to a higher standard. If something goes wrong or your clients become upset, you have the potential to be held accountable for costly damages, regardless if you have done anything wrong.
A Professional Liability insurance policy can help protect your real estate business against claims of bad advice, poor planning, failure to deliver and other alleged errors, omissions or negligence. Professional liability is triggered when a third party claims that you caused financial harm and it will cover your defense expenses, settlements and judgements related to the claim.
General Liability – Real Estate Agents & Realtors
General Liability is the most basic form of business insurance policy and is often required by clients, landlords and other outside parties. General Liability protects against accidents that may occur while someone is working with you or when accidental injuries happen to your clients or their property.
General Liability may also cover advertising injury and personal injury claims related to the operation or advertising of your business. These can include claims of libel, slander, defamation or copyright infringement. When real estate agents and realtors rent office space, they are often required by landlords to have a general liability policy in place. Additionally, professionals who visit their clients’ premises may also be required to have a General Liability policy in effect.
Business Owner’s Policy (BOP) – Real Estate Agents & Realtors
A Business Owner’s Policy (BOP) can protect professionals in your industry against a wide range of business-related risks. Any real estate agent or realtor who rents office space or own business property should consider purchasing this inclusive package.
BOP offers standard general liability protection (see above) plus it also may cover your business equipment and property. In addition to that, Business Owner’s Policy can protect against business interruption losses, non-business owned automobile liability, employee dishonesty and more. A BOP is a simple way to protect against several of the more common exposures that any small business owner may face.