If you own/operate a real estate agency, it is critical that you have the right insurance to protect yourself, your business, and your agents in the event of a lawsuit, accident, or natural disaster. The fact is that real estate agencies can be subject to any number of potentially costly lawsuits if an agent makes a mistake or offers bad advice. Even if you do everything right yourself, you may still be legally liable for the actions of your agents, making it critical that you protect yourself with the proper business insurance including:
Professional Liability Coverage
Also often referred to as errors and omission insurance, professional liability insurance is a critical policy for any real estate agency to have, as it can help to cover legal fees in the event that you or one of your agents makes an omission in paperwork or offers faulty advice to a client. Even if each of your agents has their own errors and omissions coverage, it is still critical that you have coverage for yourself as well in case a customer tries to come after you because of a mistake that one of your agents made.
It is also critical that you invest in property insurance in order to protect your office, and the belongings within it, in the event of a covered loss such as from fire, theft, or certain natural disasters. Such an event can not only leave you with thousands of dollars in losses, but it can also leave you unable to work for a period of time. Property insurance can cover these losses and help to get you back on your feet.
General Liability Insurance
If clients, contractors, and other guests frequently visit your office, then it is also critical that you have general liability insurance. This coverage protects you in the event that someone is injured on your property and tries to sue you for damages by helping to cover legal fees and settlement costs if necessary.
Having the right business insurance policy is critical for any real estate agency.
If you would to like to discuss your options for business insurance please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:30 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.