Working in real estate means being ready to go at the drop of a hat. The industry is always changing as are the people and the properties with which you work. There are a lot of areas where mistakes can be made and oversights can occur, even with the best in the industry. Having real estate liability insurance is imperative to ensure that you and your company are properly covered in any unfortunate cases.
Having insurance doesn’t simply cover mistakes that may be made on your part. It can also cover mistakes made on your behalf. Whether you are actually at fault is not always the issue, however. Many times, even in cases where you are not at fault, court costs can add up leaving you with serious legal bills. Having real estate liability insurance can help cover your legal costs throughout the proceedings. If you are found to be at fault, your coverage can also assist in any legal payouts.
Insurance can cover you in claims that include the following:
- Failure to inspect property, recommend a reasonable price, disclose material facts, or provide documentation
- Libel or slander
- Delays in closing transaction
Having a lucrative career includes not leaving yourself vulnerable to lawsuits, which can place a financial drain on you and your business in a short period of time. Protect yourself with real estate liability insurance for peace of mind so you can focus on the property at hand.