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The Many Types of Real Estate Professional Liability Coverage

As a realtor, you work tirelessly to help meet your client’s needs. Yet your clients may not always recognize the value of that work. They typically have a lot of money and personal and/or professional interests tied up in their deals. If and when those deals go south, you’re often viewed as the reason behind the failure. Thus, having real estate professional liability insurance becomes less of a luxury for you as a real estate professional and more of a business necessity.

Real estate professionals face liability issues from all sides. Those operating in any of the following fields may find themselves to be particularly at risk:

  • Commercial and residential properties
  • Property management
  • Foreclosures
  • REO
  • Property preservation

The Protection Professional Liability Coverage Provides

A general liability policy often won’t provide you or your firm with coverage against all of types of scenarios. In fact, many are remarkably limited in the amount of protection they provide. Fortunately, a real estate professional liability extension will offer special coverage for almost any and all unforeseen scenarios, including:

  • Network and information security
  • Property damage
  • Bodily injury
  • Crisis event expenses

Plus, with this extension, you get the added assistance of an insurance professional to provide any claim and pre-claim assistance.

While you certainly never plan to encounter difficulties with any of your clients or their real estate deals, real estate professional liability insurance has to be viewed among the cost of doing business in today’s litigious society. Ultimately, you can’t afford to not surround yourself and your firm with this added layer of protection.

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