Professional Indemnity Insurance for Real Estate Professionals
Real Estate Agents PI Insurance*
Whether you’re a small local business or a big nationwide company, it’s important to have professional indemnity insurance. Not only does it help to protect your business from claims of negligence, it can help to minimize your exposure to costly legal fees.
Generally, there are two types of professional indemnity insurance. The first is errors and omissions, or E&O. This type of insurance is most commonly used by consultants, brokers and other agents.
The other is director and officer insurance. This is designed to protect executives from personal financial responsibility. It also offers protection for injury and property damage.
Although it’s not always clear which type of insurance is right for your business, a combination of different insurance policies is often a good idea. For example, a good real estate insurance policy may include general liability insurance, E&O insurance, cyber insurance, and a directors & officers insurance policy.
The benefits of the best professional indemnity insurance for real estate agents is that it may help to protect your business from lawsuits and help to minimize the financial and personal effects of such claims. It may also help to minimize the risk of being exposed to unavoidable class-action lawsuits.
Some of the most common claims and legal battles over professional errors involve a real estate agent making a mistake while managing a property. These can be costly to the business and bankrupt the agent.
A professional indemnity insurance for real estate agents can be obtained through a SMART business insurance broker. They will help you find a policy that meets your needs and your budget.