Professional Indemnity Insurance is one of the main covers Real Estate Agents need to consider because it can respond to certain claims arising from professional advice, services, errors or omissions.

Depending on the agency, other insurance can include:

• Public and Products Liability Insurance
• Cyber Insurance
• Management Liability Insurance
• Business Insurance
• Commercial Motor Insurance
• Workers Compensation where applicable

What determines the insurance required? #

Relevant factors can include:

• Services provided
• Business structure
• Number of employees
• States and territories where the agency operates
• Residential, commercial or rural property work
• Property management activities
• Franchise arrangements
• Contractual obligations
• Licensing requirements

One policy should not be assumed to cover every exposure.

For example, Professional Indemnity Insurance generally addresses certain claims arising from professional services, while Public Liability Insurance generally addresses certain third-party personal injury and property damage claims.

Contact our team if you would like help reviewing insurance for a real estate business.