Insurance for Real Estate Agents
Businessowners Policy - Real Estate Agents Office
Fire & Lightning
Windstorm & Hail
Vehicle or Aircraft Damage
Building Glass Breakage
Any other risk of physical damage to building and contents not
Replacement cost coverage on building and contents
Loss of business income - no dollar limit
Valuable papers coverage up to $1000
OPTIONAL COVERAGES (May be added for an additional premium)
Grade floor glass
Money and Securities
Flood; earthquake; enforcement
of building codes, laws or ordinances; deterioration, wear
& tear; damage caused by animals or insects; power failures;
oil leaks or other pollution; workers compensation claims
Broad Form liability
Pays only for losses in excess of deductible selected.
bodily injury and property damage
libel, slander, defamation of character, false arrest, products,
contractual, host liquor, fire damage legal liability and medical
Provides coverage for liability arising out of the ownership,
operation, maintenance or use of:
The premises you use for general
Premises listed with you for sale or rental,if:
You do not own, operate, manage or rent the
They are not in your, care custody or control
You do not act as agent
for the collection of rents, or in any supervisory
Real Estate Property Managers Liability Policy
Provides coverage for Bodily
Injury and Property Damage for your Property Management operations
subject to the following:
Does not apply to Property Damage to property
you operate or manage or as to which you act as agent for the
collection of rents or in any other supervisory capacity.
coverage is provided by the owner's property insurance).
This exclusion may be mitigated by
including a "Waiver of Rights of
" in your Rental Management Agreement.
With respect to your liability arising out of your management of
property for which you are acting as real estate manager this
insurance is excess over any other valid and collectible insurance
available to you.
Property Manager means a
person providing the following services in connection with the
management of commercial or residential property:
A. development and implementation
of management plans and budget;
B. oversight of physical maintenance of property;
C. solicitation, evaluation and securing of tenants and
management of tenant relations, collection of rents and
D.development, implementation and management of loss control and
risk management plans for real property;
E.development, implementation and management of contracts and
subcontracts (excluding property and liability insurance
contracts) necessary to the daily functioning of the property;
F.personnel administration and record keeping in connection with
a managed property;
Property Manager does not include a construction manager
Real Estate Professionals Errors and Omissions Policy
Covers all amounts you become legally obligated to pay as damages as
a result of a claim by reason of an act or omission in the rendering
of professional real estate services.
Why do I need errors and omissions insurance?
- Environmental hazards included to policy limits at no
- Discrimination coverage for defense and damages ($100,000
sublimit) at no additional premium
- Employment practices liability coverage for up to 100 staff
members; by endorsement
Nonowned & Hired Car Coverage
Non owned auto coverage
would insure your business for claims
arising out of employees' use of their own autos in your business.
For example, if an employee running an errand for the business were
involved in a serious accident, the business would probably be sued
as well as the employee.
It is important to note that coverage does not extend to the
employee - it covers only the business itself. It is sometimes
possible to obtain coverage for employees for an additional premium.
Hired auto coverage
would extend your business auto coverage to
vehicles which you might rent or borrow (excluding those of
employees, partners or their households).