Being a real estate agent comes with a lot of upsides. You can make a lot of money, be your own boss, and learn a lot. However, there are definitely some risks involved with this business as well. Real estate agents can end up paying high costs out of pocket if they run into unexpected issues like employee error, data loss, or property damage. Luckily, real estate insurance can help you mitigate these risks.
What Types Of Coverage Do You Need as a Real Estate Agent?
There are many different types of coverage that are available for real estate agents so it can be tricky to narrow your options down. There are a few types of coverage that every real estate agent should have if they want to keep their bases covered.
Real estate liability insurance is vital for all real estate agents. General liability insurance can protect you from claims of bodily injury or property damage. Professional liability insurance can help protect you from claims of negligence against you.
Other Types Of Insurance
You should also have business income insurance to make sure you don’t stop making money if you are forced to close temporarily. If you use vehicles for business purposes, you will also want to have a commercial auto policy.
Being a real estate agent is not always easy. Good insurance can help everything run far more smoothly.