Real Estate Agent Insurance
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Real Estate Agent Insurance Solutions
Being the owner of a real estate agency or brokerage means you’re always on the job, always on call, and always working. Not only are your hours not normal, but you don’t share all the same concerns as most other business owners. You show properties, meet clients, and negotiate closings daily – which all come with their own unique risks.
Because you work in a unique and specialized industry, you need to an insurance partner who understands what’s at stake. We’re here to make sure you’re covered if those risks become reality with real estate agent insurance solutions you can rely on.
Is insurance important for real estate professionals?
The business of a real estate professional isn’t just complex, it’s full of potential hazards that expose your business to serious risks. That’s why you need to work with an insurance agency that understands your business and can keep you protected from the challenges that may come.
Additionally, you want an insurance company that has all the products for your unique needs. We are experts in helping real estate professionals with their business insurance, and our insurance carrier partners have programs created especially for real estate professionals.
Who needs real estate agent insurance?
Real Estate Agents
Real Estate Brokers
Property Managers
Real Estate Appraisers
Escrow Agents
Is a BOP the best policy for Real Estate Professionals?
It’s common for small business owners to start with a Business Owner’s Policy (BOP). BOPs most of the protection a small business needs, in a convenient package policy. Whether in a BOP or purchased individually, here are the coverages real estate professionals should consider:
General liability insurance
Nearly all small businesses need this coverage. It protects against things like bodily injury, property damage, completed operations, and advertising injury that may arise from your business.
Workers Compensation
This coverage protects you and your employees. It helps pay for medical costs and lost wages to employees who become injured or ill on the job or in the course and scope of their employment.
Cyber Insurance
Protects against electronic threats, data breaches, and cyber-attacks. Real estate agencies frequently store or process sensitive customer data and need this coverage.
Business owners policy
This coverage packages general liability and property coverage into one convenient policy. It’s a common choice for small businesses with commercial buildings or business personal property.
Professional Liability
This is one of the most important coverages for a real estate professional. It protects against claims of professional negligence. It’s commonly known as Errors and Omissions insurance.
Commercial Auto
If you use business-owned vehicles for client meetings and showings, this coverage can protect your vehicle-related exposures. You may also need hired and non-owned auto.
How much does real estate agent insurance cost?
There are many sites that will share their average costs for real estate agent insurance. However, if you’re not like the average business, then your costs will be different. The best thing to know what things go into determining your premium:
- Real estate services offered
- Business equipment and property
- Revenue
- Location
- Number of employees
The best way to know is to get a quote. Start a quote online to find your costs.
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