Real Estate Agents

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As a real estate agent, your days of appraising property values, representing your clients' best interests and selling real estate can be a lot to handle. In such a fast-paced industry, keeping on top of certain risks you may face on a regular basis can be challenging. Perils like liability claims, property damage, data loss and more could jeopardize your business. Real estate agent insurance solutions from AmTrust Financial can help you remain protected against the industry’s many uncertainties.

The way you run your real estate business might be different from the way other agents run theirs. For example, you may lease office space for your agency, or you may run your small business from your home. Either way, your risk management plan should be tailored to fit your specific needs. Bespoke insurance solutions from AmTrust can be customized to incorporate the coverage you need to provide the best security options for real estate agents, agencies, brokers, appraisers and other professionals in your industry.


Protection for Your Property and Finances with a Businessowers Policy (BOP)


A businessowners policy (BOP) combines three fundamental insurance coverages that are necessary for most real estate professionals:

General Liability Insurance: This policy can safeguard your business from most third-party claims including property damage, bodily injury, and advertising injury. In other words, if a client alleges that you caused damage to his or her house while showing the property to a prospective buyer, general liability could cover your legal expenses.
Commercial Property Insurance: This type of policy can help you pay for repairs if the building you own or lease becomes damaged, stolen, or vandalized. Coverage often includes your inventory, equipment, computers, documents, and other resources.
Loss of Business Income: If an unanticipated circumstance such as a cyberattack, flood, or fire temporarily prevents you from being about to operate your real estate business, this policy can help you recover some of your lost income. Additionally, if you decide to relocate your business because of a covered interruption, the insurance could help to offset some of the expenses relating to the move.


Workers’ Compensation Protection for Real Estate Agency Employees


If you have at least one employee, your state may require you to have workers' compensation insurance. This kind of policy helps to cover the costs of medical expenses and lost wages if an employee suffers a workplace accident, illness, or injury. Workers' comp may also protect your business for being sued for employees' workplace-related injuries.

Workers' comp may provide coverage for an injured employee's hospitalization, vocational retraining, rehabilitation, and partial lost wages. Depending on the situation and policy terms, if an employee draws benefits, he or she may be prohibited from suing your business for damages, and having a policy will help cover the costs of any claims made.

If an incident occurs, workers' comp coverage helps to protect your business and your employees by:

• Covering the costs of medical treatment, including x-rays, prescription drugs, hospital stays and surgeries
• Paying a portion of the employee's regular wages until he or she can return to work
• Covering the employer's costs for a claim


Cyber Liability Insurance Protection for Data Breaches


Part of your job might involve collecting important personal information from buyers and sellers and storing their data online. If a hacker is able to gain access to a client's personal information, you could be held liable. Cyber liability insurance can help you recover financially from the legal costs associated with a data breach or cyberattack. A policy could help you cover some of the costs associated with recovering from a data breach and paying for liability claims.


How Do I Get Real Estate Agency Business Insurance Coverage?


AmTrust Financial understands the challenges real estate agents face on a regular basis. We’re here to help keep you and your small business protected with customizable insurance solutions. Let AmTrust  help you find insurance policies and coverage limits to help keep your insurance agency safeguarded. We work alongside you to find an insurance package suited to your needs. To learn more about real estate agents workers' compensation packages and other top-rated insurance products that are available through AmTrust. Contact us today for more information.
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