Real Estate Insurance in Florida

The real estate industry can be exciting, fast-paced, and on-the-go especially in times when the real estate market is on the rise. This makes it a fun and profitable profession, but at the same time increases the likelihood for insurance claims against real estate professionals. Whether you work in Jacksonville, Miami, Tampa, or anywhere in between, if you work in Florida odds are 98+% of real estate professionals invest in various insurance policies to manage their exposure. Below we explain the 3 main types of real estate insurance and how working in Florida may be different.

Types of Real Estate Insurance in Florida

There are 3 main types of insurance for real estate:

  • errors and omissions
  • cyber liability
  • general liability insurance

Although errors and omissions insurance is not mandated by Florida, E&O insurance is often required by another authority such as your real estate franchise or bank partners. Regardless of whether it is actually mandatory, common sense or past experiences often make signing up for errors and omissions insurance in Florida an obvious choice.

Errors and Omissions Insurance in Florida

Just as the name would suggest, errors and omissions insurance covers errors and omissions made by real estate professionals working on behalf of a real estate brokerage. Specifically, E&O typically covers situations like not disclosing relevant information about the property, or not showing a property to a prospective buyer to even bodily injury or damage that could happen during a showing. In general terms, broadform E&O policies protect both the brokerages and individual real estate agents if they’re sued by a client because of a mistake they’ve made related to transactions in real estate.

Errors and omissions insurance for real estate often covers defense costs, legal costs, and court costs related to a claim.

Prior Knowledge 1
fraud scam danger theft Insurance for Real Estate

Cyber Liability Insurance for Real Estate in Florida

Cyber Liability Insurance for real estate is a relatively new type of insurance policy in Florida that is designed to protect businesses from both 1st and 3rd party risks associated with cyber attacks and fraud. Real Estate professionals are a prime target for these types of attacks, because real estate deals involve complicated, multi-party, high value transactions and sensitive personal data.

First party Cyber Liability policies cover the real estate agent directly and include things like Cyber Extortion, Electronic Transfer Fraud, Deceptive Funds Transfer, and Telephone Tolls, to name a few. Direct coverage is important, but from what we have seen are rarely the reason why real estate professionals decide to purchase cyber liability policies. It’s the 3rd party protection that is usually the consideration, because that coverage would protect the vendor/partner or clients and in real estate deals, this is where the majority of the money is.

General Liability Insurance for Real Estate in Florida

General Liability Insurance or business liability insurance is a common type of coverage in any industry that protects businesses from claims resulting from normal business operations not specifically related to the real estate industry.

Specifically, General Liability Insurance in Florida will cover personal and advertising injury, damage to properties that are rented to your business, as well as, bodily injury or medical claims, and other common business liability exposure.

real estate agents at office

Finding the Right Partner

Trust PBI Group for your Real Estate Insurance

Navigating the regulations and designing a comprehensive policy for real estate professionals requires finding a partner with the right knowledge and experience. At PBI Group, we have written over 50,000 real estate E&O policies for thousands of real estate companies throughout the 50 states. For Cyber Liability insurance, a comprehensive plan specifically for real estate professionals doesn’t yet exist and the risks are changing and evolving constantly. PBI Group is committed to researching and working with carriers to create the best plan.

PBI Group is founded on the principles of trust, partnership, fanatical service and, most of all, industry leading E&O coverages. We do what we do because we believe there is a better way to buy professional liability insurance than online portals with cheap premiums and minimalist coverage. When your policy comes up for review, don’t just accept your renewal quote without finding out the benefits that come along with best.

RECOGNIZE ANY OF THESE RESPECTED REAL ESTATE PROFESSIONALS?We Love our Clients!

A.J. Horne
Advantage Realty #1

It has been a superb experience with PBI group. Paul Bondy has provided us with exceptional support and guidance over the past five years. Premiums are very competitive and renewals straightforward; easier than most others. Highly recommended!

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Cissy Scott
Better Homes and Gardens Real Estate Main Street Properties

Working with PBI Group on my E&O insurance for my real estate brokerage is always a pleasure. They are professional and provide all of the information requested. The customer service level is world-class.

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Clint Bishop
Bishop Realty Associates

I have worked with Paul for several years now. He has always done whatever needs to be done. If I have questions, he’s ready to answer me. He is an asset to your company.

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Dawna Cantway
Florida's Choice Realty

PBI Group was referred to me from another brokerage for real estate E&O insurance. I am very pleased that I took their advice.

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Donna Dunaway
Century 21 Affiliates Realty

Paul at PBI Group came highly recommended. I submitted my application to several E&O companies. Paul not only responded immediately, his quote saved my company $2K+ for the “same” amount of coverage. I can’t thank the PBI Group enough!!

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Emilio Cardinal
Interinvestments Realty, Inc.

Paul Bondy at PBI Group is very professional and always available to help. Paul and his company are one of the best in the market. We are very happy to have him as our agent. I have and will continue to recommended him to brokers for their E&O coverage.

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Gayle Lowry
Coldwell Banker Ellison Realty, Inc.

We have done business with PBI Group for several years now and can only say that it is a fantastic experience working with you all in helping our firm provide the E&O for our company and it’s agents.

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Greg Karlson
Advantage Realty #1

It was a great experience to work with PBI Group for my Florida real estate E&O insurance. Paul is very knowledgeable and well versed in the intricacies of E&O insurance. He goes the extra mile in looking out for his clients (before and after the sale). You can be assured that you will be provided with the best quality product for your needs at a very competitive price. We would heartily recommend PBI Group to all our real estate colleagues and business associates!

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Jim Morton
Century21, J.W. Morton Real Estate, Inc.

The PBI Group is a wonderful and professional group for Flordia real estate E&O insurance. I have had dealings with Paul Bondy and he is great to work with. No matter if you call or email you get your answers. Thanks for your wonderful service.

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Karriemah Lashley
Lashley Realty Group

I received excellent customer service from PBI Group. All my questions were answered. Paul took his time to explain the policy with me. I am confident I choose the right company to help me with my real estate E&O insurance needs.

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Kendall Caputo
Better Homes and Gardens Real Estate Synergy

Responsive + coverage that works. That is all I ask from a real estate E&O insurance provider. That is exactly what I get.

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Laurie Adams
Keller Williams Realty of Jupiter

Paul Bondy at PBI Group is very knowledgeable about every aspect of E&O insurance for real estate. Any questions asked are answered completely and in a timely manner.

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Leslie Poole
Keller Williams Realty Peace River Partners

Paul Bondy is simply the BEST! He is extremely knowledgeable and responsive to any real estate E&O questions we may have. He takes the time to explain the coverage and offers suggestions to better cover our needs. Having come from the insurance industry, Paul is exactly the kind of professional that I want to represent us.

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Margaret Neubauer
ERA Neubauer Real Estate

We have entrusted Paul Bondy and the PBI Group with our real estate errors and omissions coverage for nearly 20 years. Easy to work with, answers all our questions, quick response time, and provides a great product at a great price.

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Maria Nazur
La Costa Homes Realty

Great service, always ready to answer questions and provide solutions

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Marilyn Hottle
Coldwell Banker Camelot Realty

I have to express my satisfaction with Paul Bondy of PBI Group . I have worked with Paul for several years, and have found him to be extremely helpful, responsive, professional, and most importantly to me, caring. Paul earned my business, and was relentless in finding the product to meet my needs at a savings from previous carriers. He was available and responsive, and I would recommend him highly.

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Millie Larsen
Millicent Bergeron Larsen

Chris Dittes is always very professional and helpful. He makes doing business with y’all extremely easy.

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Nikki Ubaldini
Keller Williams Clearwater

I have utilized Paul Bondy and PBI Group for many years to secure E&O coverage for my three Florida Market Centers. Paul went above and beyond in helping me to find and place real estate E&O coverage and spent extra time with me explaining the process and review of the actual policy. I highly recommend Paul, as he is exceptionally knowledgeable and very customer service friendly.

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Ray Matot
Coldwell Banker Sunstar Realty

Sunstar Realty, Inc. would like to extend our appreciation to Paul Bondy and PBI Group for his assistance in selecting an E&O carrier which we feel would provide us with the best protection available. Paul was extremely helpful in comparing the differences between various policies available as well as our current policy. We are confident that the coverage will provide us the protection needed for the coming year.

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Ray Turner
Turner Real Estate Network

Quick, informative responses. When shopping insurance you need someone that can break it down for you in a concise manner. Price isn’t everything, but it helps that PBI Group is extremely competitive. I will, and already have, referred peers/clients to their services.

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Summer Williamson
Keller Williams Realty Atlantic Partners St. Augustine

PBI Group has been awesome from the start, very attentive, and answered every E&O insurance question we had without rushing the process! Thank you PBI Group!

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Tammy Slater-Kendrick
Keller Williams Realty Suncoast

Paul is always available to answer questions (even providing info for questions I didn’t know I needed to ask). Quick response, knowledgeable and extremely helpful.

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Trevor Olson
EXIT Real Estate Results

”Paul, thanks for all the hard work. You saved me over 40% on my renewal, and followed up from the year before. Look forward to doing business for many years.”

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