26th November 2019
Estate Agents Insurance
Estate agent’s insurance should cover a multitude of risks facing a residential estate agent/letting agent.
Arranging specialist insurance to protect your estate agent/letting agency business is vital when you start to think about the ways your business could be exposed:
- Your accused of failing to manage a sale or letting properly.
- You cause damage to a customer’s property during a visit.
- Would a fire or flood at your business premises stop you from trading?
We have put together a list of insurance covers we feel estate agents should consider in order to protect their business. You don’t need to purchase them all as you can mix and match the covers you need to protect your individual estate agent’s business.
It doesn’t need to be a long process we can help you arrange your estate agent’s insurance online in minutes. Our simple quote system asks about your business activities and offers you covers that may be of interest. You can choose to buy all or just some of the covers quoted, so you will only ever pay for the insurance you need.
Covers we can offer:
Professional indemnity insurance for estate agents
Professional indemnity insurance covers the cost of defending your business against allegations of professional negligence (such as giving your client incorrect or wrongful advice) and if unsuccessful, the cost of damages awarded against you. This cover is essential for all types of estate and letting agents.
Public Liability insurance for estate agents
Public liability insurance can provide peace of mind for estate agents as it will protect your business against a claim for compensation made by a member of the public or a client due to bodily injury or property damage.
For example, if a client or a potential buyer were to slip and injure themselves on a spillage in your office, a public liability policy would cover the cost of settling or defending a resulting claim.
Employer Liability insurance for estate agents
Employer’s liability insurance is a legal requirement if your business has employees then you need this cover. It basically covers your business against claims for injury or illness suffered by employees arising from their employment.
Estate Agents Office Insurance
Office insurance for estate agents covers your office buildings, office contents and computer equipment against theft or damage. You can also choose to insure your business against loss of income and/or additional trading expenses following events such as damage to your property.
Directors & Officers Insurance
Covers the costs of defending you, as a director or officer of your company, against allegations of wrongful acts and any damages subsequently awarded against you.
Anyone from regulators to shareholders to competitors can accuse you of not running a business with due care.
Directors are personally liable for their actions, this insurance covers your defence cost (legal fees and expenses) of defending your actions and compensation you may have to pay.
Employment Practices Liability
Employment practices liability insurance (EPL insurance or EPLI) provides coverage to employers against claims made by employees alleging:
- Discrimination (based on sex, race, age or disability, for example).
- Wrongful termination.
- Harassment.
- Other employment-related issues, such as failure to promote.
