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Why Do Real Estate Agents Need to Have Business Insurance

Why Do Real Estate Agents Need to Have Business Insurance?

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Real estate agents often face lawsuits for failing to disclose defects, negligent misrepresentations, and missed disclaimers.

Real estate transactions may not be the only component of your small business’s services. You might also be interested to learn more about related insurance. Insurance license classes are one of the best ways to learn about business insurance, why it is needed, and how it can benefit you and your business.

General liability and professional liability claims can both be costly and surprise you. No matter how small or large the mistake you make, lawsuits can be devastating in this emotional and personal area.

Why Do Real Estate Agents Need to Have Business Insurance?

These are six reasons real estate agents and independent brokers should protect their business and help them navigate the insurance claims process.

  • Flexible payment options: To help manage your cash flow, we offer monthly payments without any additional fees.
  • Tailored insurance: We are experts in the needs of businesses like yours, and can tailor our coverage to your specific industry.
  • Hiscox claims responsiveness: Once a covered claim has been reported, a designated claims representative will be assigned to you.
  • Contract insurance coverage: Our architect’s insurance coverage meets most standard contract insurance requirements.
  • Hiscox covers the entire world: Hiscox provides worldwide coverage for businesses that are insured. Canada or Territory
  • Passion for service: We are recommended by 4.7/5 of those surveyed.

Why Do Real Estate Agents Need to Have Business Insurance?

Why is professional liability insurance important? Real estate agents are exposed to the risk of discrimination claims. If a client files a claim for wrongful discrimination against your agent, having the right professional liability insurance will help protect you. Discrimination claims are serious and something you do not want to have to face on your own. Request a quote for insurance on your real estate agent today to empower your business.

 

General liability insurance (sometimes called commercial general liability) could protect your company from claims by another person or entity for bodily injury, medical expenses, and property damage.

Real estate agents are often not prepared for these kinds of problems. There are many online real estate courses that can be taken to better understand how and why you need to have insurance as a real estate agent.

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