Real Estate Information
Working as a real estate agent means showing properties, meeting clients and negotiating contracts daily, all of which come with risks. Having adequate insurance coverage can protect your business and save you from costly damages when things go wrong.
Learn more about insurance coverage for real estate agents by contacting an Eagle Insurance Agency agent.
What Is Real Estate Insurance?
Real estate insurance is a mix of insurance policies that make up a comprehensive coverage classified as real estate insurance. A variety of insurance options are available, including:
- General liability insurance helps cover basic real estate business risks such as injuries. This coverage can often be bundled along with commercial property insurance to create a business owner’s policy.
- Workers’ compensation insurance benefits employees who suffer work-related injuries or illnesses. If you have employees, workers’ compensation insurance is not only vital but often required.
- Errors and omissions (E&&O) insurance helps cover legal fees if you’re involved in a lawsuit related to mistakes and oversights you make in providing professional services. E&O insurance is sometimes called professional liability insurance.
- Commercial auto insurance helps pay for damages and injuries if your business-owned vehicles are involved in an accident.
- Commercial property insurance protects your agency’s physical assets from hazards such as fire, explosions, burst pipes, storms, theft and vandalism.
- Cyber liability insurance helps cover costs and expenses related to cyber attacks.
To determine the types of coverage you need, talk to an Eagle Insurance Agency agent.
Who Needs Real Estate Insurance?
People who work in the following roles likely need real estate insurance:
· Real estate agents
· Real estate brokers
· Real estate appraisers
· Escrow agents
If you’re unsure of whether or not you need real estate insurance, contact your Eagle Insurance Agency agent to learn more.
How Much Does Real Estate Insurance Cost?
The cost of real estate insurance coverage varies, depending on your coverage needs. Coverage cost may depend on the following:
· Real estate services offered
· Value of business property and equipment
· Business size and revenue
· Types of business insurance purchased
· Policy limits and deductibles
Be sure to discuss your needs with an agent at Eagle Insurance Agency to receive a quote on your coverage.
Learn More About Real Estate Insurance
At Eagle Insurance Agency, we’re ready to help you with your real estate insurance options. To learn more about your comprehensive coverage, reach out to an agent to get started.