Buyers Agent Insurance

Helping home buyers find their dream homes, advising sellers on how to get the most money when putting their homes up for sale, or finding tenants for properties with furnished options — if you’ve ever wondered what it means to be a real estate agent, that list alone proves that there is more than just buying and selling involved. You work closely with your clients on one of their biggest purchases in life, but it’s important to look out for yourself too.

Understanding insurance needs for real estate professionals :

• Professional Indemnity Insurance: Provides indemnity for a range of potential misfortunes, such as claims for alleged negligence or breach of duty arising from an act, error or omission in the performance of professional services.
• Public Liability Insurance: Public liability insurance is something that businesses should consider if things such as damage to property or injury to others is a concern. Public liability claims can be costly and those that haven’t taken the necessary precautions can risk their business crumbling for it.
• Business Insurance: A policy for business insurance will protect you against losses due to events that may happen during the regular course of business. Business coverage is available in a variety of lines. Property, liability, and employee benefit insurance are common ones.
• Cyber Insurance: Cyber insurance is a type of insurance specifically designed to protect businesses from cyber-attacks and data breaches. Information that may be available online — such as your company records, your customers’ credit card details, your employee’s payroll information – will create business liability in the event of a breach, where hackers get access to or steal these types of sensitive information. Cyber insurance protects companies against cyber-attacks and will cover the costs incurred if an employee’s personal identity has been stolen or hacked for example, while also protecting against other eventualities such as business interruption by a cyber-attack.
• Management Liability Insurance: It is the most comprehensive protection available to small business owners and sole traders with standard or simplified accounting systems. Having inadequate levels of business management liability coverage leaves entrepreneurs open to paying out of their own pocket when somebody makes a complaint against them, such as by breaking a contract, with claims made against you by employees, competitors, shareholders and clients that could potentially cost you your home.