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Real Estate

Real Estate Information

Real estate agents understand that homeowners must have property insurance in order to protect their greatest investment; but so, too, must realtors. Not only is an office (whether at home or at a commercial location) a large investment, but for most realtors it’s also their most profitable one. Protecting that endeavor with the right commercial property insurance policy is vital to staying in business over the years. If the real estate office is in a flood zone, then a realtor might consider also adding flood insurance to cover relevant claims since they are excluded from commercial property insurance.

Another way to protect your income as a realtor is to invest in business continuation insurance, which will replace lost income should your business be forced to shut down due to one of the hazards listed in the policy. Additionally, this policy can cover the expenses of a temporary relocation, which will allow you to keep your business running for little to no extra cost as your office is being repaired or rebuilt.

Auto insurance is extremely important for realtors because of the nature of their job. Securing insurance that guards against the cost of both bodily injury and personal property damage liabilities as well as protecting your vehicle is a great way to minimizing your overall business expenses.

While there are many different types of liability insurance that realtors should consider, one of the most important is errors and omissions insurance. E&O is a professional liability policy that will cover the cost of defending a lawsuit or paying a claim that results from an accidental error or omission made by the realtor. This can include discrepancies in posted home listings, problems with contracts, errors in submitted bids and accidental misrepresentation of property qualities.

What types of Real Estate insurance are available?

There is a wide variety of contractor insurance options. Here are common coverage's for independent contractors.

  • General Liability Insurance: Providing coverage for all premises, operations, products and completed operations. Liability lawsuits from clients, employees, suppliers and the public.
  • Workers Compensation and Employers Liability Insurance: Providing yourself and your employees against the unexpected. (Accidents. Injuries)
  • Disability Insurance: Provides partial wage replacement to eligible workers and Employers who are unable to work because of a disability.
  • Umbrella / Excess Liability Insurance: Provides additional limits over your existing liability policies.
  • Commercial Auto Insurance: Protection against Vehicle claims and losses.
  • Builder's Risk Insurance: This coverage protects against loss to a construction project due to property damage sustained during the course of construction. Any owner or contractor seeking to renovate existing structures or build new ones, needs this coverage.
  • Tools / Equipment Floater Insurance: Covering valuable equipment and tools you use to get the job done.

  • Hartford
  • Travelers
  • Guard
  • Blue Cross Blue Shield
  • Mercury
  • MetLife
  • Zurich
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