No matter what your profession is, chances are there’s a specific type of insurance coverage you’ll want to at least consider in order to protect your business and your peace of mind. Real estate liability insurance might not only protect a real estate agent’s business, it can get them more business as well. So why should you have real estate insurance?
You Might Be Required to Have It
Your clients might require that you have errors and omissions (E&O) insurance before they agree to hire you as their agent. If you don’t already have E&O insurance and have been losing jobs, getting a policy can potentially bring in business.
It’s Cost Efficient
Just like you want to do everything you can to get as much commission as possible from a buy or sale, you also want to do what you can to make operating your business as cost efficient and financially secure as possible. Real estate liability insurance can go a long way in accomplishing both goals, and that’s especially true should you ever have to file a claim.
Contracts Aren’t Enough
No matter how well planned out your contracts are, they can still be contested in court. Even if a case doesn’t have a good chance of winning, it can still cost you quite a bit of money just to defend yourself.
You want to do everything you can to help your clients find the perfect home or buyer, so why not do everything you can to protect your real estate business?