What To Know About Real Estate Insurance

Property owners have unique requirements, compared to other professionals, when it comes to being fully insured. In addition to general liability, real estate insurance has the ability to cover complex needs such as:

Cyber Liability Coverage

Cyber attacks, especially wire transfer fraud, are on the rise and can wreak havoc on a business owner. With wire transfer fraud, a criminal is able to have money transferred into a phony account by posing as a representative of a real estate company. 

In a recent case, a hacker was able to have the broker’s money sent to an offshore account by accessing the broker’s email account and changing the instructions to wire funds. These funds were not recovered. 

Terrorism Coverage

You do your best to protect your assets, but did you know a terrorist attack that happens on, or even near, your property could not only interrupt business but also damage your reputation? Financial losses due to a denial of access to the premises, property damage, or loss of human life may result from a terrorist event.

The right real estate insurance can give you the coverage needed to protect your assets and has the potential to save you time and money should the unthinkable occur.