A profession in real estate has many benefits and perks. However, a career in this field also comes with some potential risks. When you work with large sums of money for many clients, legal claims may arise. Defending yourself against claims is an expensive process. Real estate professional liability insurance helps mitigate the associated costs to protect you from financial loss.
What Does Professional Liability Insurance Cover?
These errors and omissions policies cover claims related to the services you provide. Your clients rely on you for accurate and timely information. If you miss details, fail to meet deadlines or forget to provide information that costs your client money, they may file a claim against you. A professional liability policy covers claims related to these errors, such as:
- Failure to act in a timely manner
- Inaccurate advice
How Do You Choose a Liability Policy?
When purchasing real estate professional liability insurance, it is vital to contact an experienced insurance agent who understands the unique risks you face in your industry. Working with an agency with expertise in real estate coverage is essential to ensure you obtain adequate financial protection.
Mistakes and oversights happen in every job field. As a real estate agent, you work with many different clients, and when money is on the line, lawsuits may occur. Protect your finances with a liability policy to pay for settlements and legal fees resulting from performance or negligence claims