Insurance customized to the needs of a real estate agent is real estate insurance. It can protect against the high cost of a claim made against you. Therefore, selecting the right real estate agent insurance coverages to fit your needs is vital. Fortunately, creating your real estate agent insurance policy is easy with the help of InsureWise.
How Much Does Insurance Cost for Real Estate Agents & Brokers?
From business size to claims history, real estate agent insurance cost is calculated based on several factors. For instance, there are different costs for an independent agent as opposed to a real estate firm with ten employees.
Standard Real Estate Agent Coverage
General Liability Insurance: When it comes to accidents and lawsuits that your business could be held liable for, this real estate agent liability insurance protects you. Most business have general liability for the basic protection. A customer becomes injured after tripping in the office over a cord, for instance. Their medical expenses may be covered with general liability.
Professional Liability: Protection against claims of negligence against you and your real estate agent business comes from the professional liability coverage, which is also called errors and omissions (E&O) insurance.
Commercial Auto Insurance: You will need a commercial auto policy if in the event your vehicle is used for business purposes, such as transporting clients to a showing.
Workers’ Compensation Insurance: Should they become injured or ill at work, workers’ comp protects your employees.
Business Owners’ Policy (BOP): Into one policy, a BOP rolls general liability and additional real estate agent insurance coverages, such as property damage.
Insurance for Real Estate Agents & Brokers
Contact InsureWise to tailor your custom real estate agent insurance. We can help you find the best coverage for your real estate agent or broker needs.