Real Estate Agents & Broker’s Insurance

Real estate agents and brokers are often independent business professionals who work in shared offices with other agents. As time goes on, you may open your own agency or get your own private office. Whether you are an independent agent or you run a full-fledged agency, there are a number of potential risks and hazards you must deal with each business day. Protect yourself from losses caused by unexpected events with the right commercial insurance coverage.

General Liability

Property Coverage

Professional Liability

Commercial Auto

General Liability Insurance

General liability insurance is designed to provide your real estate agency with a broad level of protection. It can protect you from advertising liability, customer bodily injury and property damage caused to a customer’s belongings. General liability covers most potential business losses such as fire, vandalism or even water damage as long as they are not specifically excluded from your commercial insurance policy contract.

Business Owners Policy (BOP)

A business owners insurance policy (BOP) helps protect your company from the financial hardships that are created from property loss or damage. It includes general liability protection in addition to covering your property and business contents.

Equipment Breakdown – Office equipment can break down without prior notice. Fixing or replacing machines or equipment can be costly to your real estate agency. A BOP can cover all costs when specific types of machines or equipment fails.
Buildings and Contents – A BOP provides you with damage and loss coverage to your business buildings and the physical assets you have inside. For example, if your real estate office is subject to smoke from a nearby fire and the furnishings are ruined from all the smoke, the BOP can repair or replace all damaged items.
Business Income and Extra Expense – When extensive damages occur, the building your real estate office operates from may need to close down for repairs or clean up. In case of relocation, your BOP can provide for your income losses and help you with extra expenses that come up during this recovery period.
Electronic Data – The business files that your company keeps on computers and disks is subject to loss and damage from computer viruses, water exposure or power outages.
Newly Acquired or Constructed Buildings – When you purchase new buildings for your agency, your BOP can provide automatic coverage for a stated amount of time at no additional premium.
Valuable Papers Protection – Real estate agents often handle critical and valuable paperwork as a part of their routine business operations. A BOP can help with the expenses of replacing valuable papers if they’re ever damaged or destroyed.
Employee Dishonesty Coverage – Small businesses can lose as much as six percent of their annual revenue from dishonest actions by employees.

Professional Liability Or Errors & Omissions

Professional liability or errors and omissions, is business insurance that protects you from litigation and settlements when you make professional mistakes that bring financial hardship to your clients.

WORKERS COMP Insurance

If you employ one or more persons in your real estate agency, state law requires you to carry workers comp insurance. Workers compensation pays for the employee’s medical and hospital bills and helps with recovery if they receive injuries while performing their job duties.

Business Auto Insurance

Real estate agents drive frequently and are at a higher risk of having auto accidents. Protect your company from expensive repairs and damages with a business auto insurance policy.