A simple mistake could have a big impact on your small real estate company. Business insurance can help you recover from a discrepancy in a listing, a lawsuit over tenant complaints, or a fire at your office.
E&O, also called professional liability insurance, can cover legal fees for lawsuits related to your business decisions, including errors and oversights.
This policy covers basic real estate business risks, such as customer property damage and injuries. Bundle it with property insurance for savings in a business owner’s policy (BOP).
Most states require workers' comp for real estate businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
A BOP bundles property insurance and general liability insurance under one plan. It's often one of the most cost-effective commercial insurance policies for real estate professionals.
Commercial auto insurance covers costs when a real estate business's car is involved in an accident. Most states require this coverage for vehicles owned by a business.
This policy helps real estate professionals recover financially from data breaches and cyberattacks. It's recommended for any business that stores customer information.
It’s easy to find real estate insurance with Insureon. Whether you’re an independent real estate agent, a property manager, or a mortgage broker, you’ll need to have some basic information about your business available.
Our application will ask you for your annual revenue and payroll, among other details. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
Insureon's licensed insurance agents work with top-rated U.S. providers to find the right insurance solutions for your real estate business, whether you work alone or run an agency with multiple employees.
Whether you're required to carry errors and omissions insurance depends on your profession and the laws in your state. In particular, real estate agents and brokers sometimes need to carry a certain amount of this coverage to get licensed in their state.
Every real estate professional can benefit from this coverage, especially when an error or oversight could prove financially damaging to a client. The combination of E&O insurance and general liability insurance together will protect you against the most common lawsuits from clients, as part of a recommended risk management plan.
When you rent out a building, you take on risks that may require specialized coverage. Insureon's licensed agents recommend these policies for commercial landlords and other real estate owners:
All real estate businesses can benefit from the following policies, in addition to those mentioned above. They can help you in the event of catastrophic losses from a lawsuit, or a devastating property claim that forces your business to close.
An Insureon agent can help you find coverage options for other exposures, such as flood insurance for water damage, to make sure you’re fully protected.
You may see the term hold harmless agreement during your search for real estate insurance. Also called an indemnity agreement, it protects your business by requiring others to agree not to sue you in certain circumstances.
As an example, a commercial landlord might ask their renters to sign a hold harmless agreement in order to avoid liability if someone gets injured or their property is damaged while visiting them. It's a good way for businesses that would otherwise face high risks to avoid costly lawsuits.
Errors and omissions (E&O) insurance can cover your legal expenses if an unsatisfied client sues your business for any mistakes or oversights. Anyone who provides professional advice or services to...