Realtor Insurance

 Whether you run a large real estate brokerage with many agents and locations or are just opening up your first office, the business risks are very similar. 

Some of the common policies many real estate offices have include:

1. Commercial General Liability (CGL) tailored to your real estate business. This could range from liability limits as little as $1,000,000 for a small home office to $10,000,000 for a large real estate brokerage with hundreds of agents. 
2. Professional Liability Insurance. As a realtor, you have a fiduciary duty to clients. In an event where a realtor offers incorrect advice and a client sues them for damage, their Errors and omissions policy may recover their losses. 
3. Content Insurance. If you lease your office and have physical assets such as equipment, furniture, printers and computers, you can insure them through content coverage. This may also include betterments to your unit such as upgraded kitchen or floors. 
4. Auto Insurance For Businesses.  As a realtor, you likely use your personal vehicle to get to showings, meetings and transporting clients. Its very important that your auto insurance policy includes business use coverage designed specifically for realtors. Failing to include this could result in claims being denied.
5. Commercial Property Insurance. If you purchase an office for your real estate agency or brokerage, you should purchase a commercial property insurance policy specifically made for the real estate business.
6. Cyber Insurance. Real estate companies keep a lot of sensitive client  information that if hacked, could cause a major financial loss to the company. Cyber insurance can help recover costs from losses resulting from a data breach or hack.
7. Business Interruption Insurance. If your operations are halted as a result of a claim, your business interruption coverage could pay out for lost income until operations resume.