As a real estate agent, your job exposes you to a lot of risks. To ensure that your business and assets are protected, you need to have the right insurance coverage. Here are three insurance types you should consider getting to cover your business.
Also known as Errors & Omissions, professional liability insurance for real estate agents covers your business in case an error on your part has detrimental effects on someone else. In an environment where many people are inclined to file lawsuits even with no chance of winning, you want to be properly covered.
What would happen if a client were to get injured on your premises and decided to sue? If you don’t know the answer, then you need to sign up for general liability insurance. You don’t want your business to bear the financial burden of lawsuits due to an accident happening on your property.
If your property is damaged, lost, or stolen, commercial property insurance will cover the cost to repair or replace them rather than your business having to foot the bill. If you miss out on potential income due to the damages, some policies will even cover that amount as well.
Commercial property, general liability and professional liability insurance for insurance agents are just three types of coverages you should consider for your business. It’s best to work with company that understands your needs to help you find the right coverage rather than going at it alone.