As a real estate professional, you are dedicated to your clients. However, regardless of the size of your business you face potential exposures with increasing consumer expectations and lawsuits. Real estate liability insurance offers protection for an extensive range of emerging exposures to protect your firm from damages due to errors and omissions and negligence in the performance of professional services.
Types of Real Estate Liability Claims
Coverage extends to all employees acting within the scope of their employment duties. A few of the standard coverage augmentations include defense expenses for licensing proceedings and Fair Housing Act discrimination cases, failure to disclose pollutants coverage and lockbox coverage. Claims against real estate agents usually relate to:
- Failure to disclose material facts
- Discrimination, libel or slander
- Failure to recommend a reasonable price
- Delays in closing a transaction
- Failure to inspect the property
- Failure to provide documentation or reports
Real estate liability insurance policies and products specifically address vulnerabilities unique to specialists and organizations that handle business in the real estate industry. The design focuses on real estate professionals.
Make Smart Choices
Policies vary among insurance companies, and their experience allows them to examine available coverages that can address your exposures specifically. By working with multiple top insurance companies specializing in real estate liability insurance you can secure the correct policy for your needs by personalizing a professional liability program for your business.