Types of Liability Coverage for Your Real Estate Firm

If you work in the real estate industry, you understand the pressures you face to meet clients’ demands and to help them achieve their goals. Unfortunately, real estate has a high exposure to lawsuits and other legal matters. To protect your business, you need to seek professional liability insurance program for real estate firms.

Discrimination Allegations

Real estate professionals must exercise extreme caution when turning down clients’ requests and applications. If a client can’t get into the home he or she wants, that person could claim you discriminated against him or her and that was the reason for the missed opportunity. You can select a package to guard against loss from these allegations.

Environmental Hazards

If you sell a home with environmental issues to someone, you could face severe consequences. Even if you’re not at fault, you could be left in financial ruin. Professional liability insurance program for real estate firms have packages to compensate you for these legal expenses and defense.

Privacy Breach

In your work, you have access to clients’ sensitive personal information. Make sure you get coverage to protect against allegations that you’ve used this information against your clients for your own gain.

Choose liability coverage for your firm today. The right plans can save you significant amounts of money and keep your business moving forward even in the face of legal challenges.

What Is Covered in a Real Estate Firm Liability Insurance Program?

Real estate firms may find themselves at especially high risk for getting wrapped up in unwanted litigation. It is not uncommon for these firms to be brokering deals with clients that have never spent this much money at once. Add to this the fact that if the client is buying a home, they likely have a very high emotional investment in the purchase. All of this increases the legal risk and demonstrates the importance of learning about professional liability insurance programs for real estate firms.

Available Coverage

While finding the right program for your firm will likely require sitting down and discussing your specific needs with an insurance wholesaler, it is important to know about the type of coverage available to you. This includes coverage for the following:

  • Property Management
  • Prior Acts
  • Environmental Hazards
  • Privacy Breach
  • Fair Housing Claims Defense
  • Lock Box Claims
  • Business Brokerage

Importance of Quality Coverage

The right program for your firm can be the difference between a lengthy and costly legal battle and peace of mind. When you work with an insurance wholesaler to understand the available professional liability insurance programs for real estate firms, you are making a move to protect you and your firm so that you can provide the best service possible to your clients.