Finding the Right Amount of Insurance for Your Real Estate Biz

Realtor meeting with a couple with insuranceAs a real estate agent or broker, you have developed the expertise to navigate complex deals and work hard for your clients. However, with all business ventures, there is the chance for something to go wrong. In the real estate industry, professionals are open to an additional layer of risk because clients are basing major financial decisions on the information you provide. Regardless of how good you are at your job, it is impossible to guarantee that an unhappy client won’t turn the blame on you. Therefore, it’s essential to have the right insurance coverage to protect you and your company.

Realtor Insurance for Every Real Estate Professional

Whether you have a growing firm or you are on your own, it is important to develop policies to protect your business from a range of risks. Here is a list of essential types insurance coverage for every real estate professional:

Business Owners Policy – Both General Liability Insurance and Commercial Property Insurance are essential coverages for any small business, whether it is a sole proprietorship or an incorporation.

Realtor E&O Insurance While most real estate professionals have contracts in place, they often only go so far in protecting you from potential lawsuits. As clients base major financial decisions on your professional advice, errors and omissions insurance becomes incredibly essential to help cover the cost of mounting a defense and any resulting settlements or judgments.

Commercial AutoNot only do you drive from location to location as a real estate professional, you often have clients riding with you. Most personal auto policies do not provide coverage for an accident that occurs when conducting company business.

Cyber Liability / Data Breach Insurance – With contracts and sensitive information often being sent over the internet, realtors and real estate brokers should be sure they are covered if something goes wrong.

Umbrella InsuranceEspecially for real estate professionals who work with high-value properties, umbrella insurance coverage adds an essential layer of coverage. If you exhaust your other policies, your umbrella insurance ensures you are still protected.

Additional Coverage for Growing Real Estate Firms

As your business grows, your insurance needs will inevitably change. From your first employee, you need to make sure you are protecting yourself with these additional coverages.

The Right Amount of Coverage

Leveraging over 100 years of experience, BearStar Insurance agents have a deep understanding of what California business owners need - and don’t need - when it comes to their insurance coverage. From general business and workers’ compensation to independent contractors and cybersecurity, we work with some of the best carriers in the industry to provide you with custom-fitted, comprehensive protection at the best possible price. We value the relationships we build with our clients; fill out this form to get a quote or call us today at 949-979-5251 to speak with your local agent.

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