Insurance is important for many of today’s businesses. The right insurance can provide protection against unforeseen costs and minimize your risks. If you work in real estate, an important policy to consider is errors and omissions insurance for real estate agents. This coverage offers many significant benefits, including these two.
- Protect Against Mistakes – In nearly every industry, mistakes can happen. Unfortunately, even the smallest error can end up costing a lot of money. This is why so many people choose to carry errors and omissions insurance. This coverage can protect professionals when they make mistakes. The real estate industry has become increasingly complex, and it is easier than ever to make a mistake. If you have the right insurance, you will not have to worry about the financial ramifications of your mistakes.
- Avoid Expensive Lawsuits – When you carry errors and omissions insurance for real estate agents, you are likely to avoid costly lawsuits. Litigation cases are common in the following circumstances:
- Failure to inspect property
- Delays in closing transaction
- Failure to disclose material facts
- Failure to recommendation a fair price
If you do get sued for one of the reasons, your insurance company can handle the case.
Errors and omissions insurance for real estate agents is a smart investment. Contact an insurance company today for more information on this type of coverage.